Idaho § 26-3501 - Prerequisite to engaging in trust business
Full text of Idaho Idaho Statutes § 26-3501 — Prerequisite to engaging in trust business, with citation guidance and answers to common questions.
§ 26-3501. Prerequisite to engaging in trust business
(1) A corporation duly organized for the purpose of engaging in the trust business may apply for a charter to operate as a state trust company. A state trust company may perform any act as a fiduciary or engage in any trust business within or without this state.
(2) A bank having the power to engage in the trust business, which is organized under the laws of this state or authorized to do business in this state, and which is chartered under the provisions of the Idaho bank act to engage in banking business in the state of Idaho, may apply for a charter from the director authorizing it to operate a trust department.
(3) To the extent not inconsistent with specific provisions of this chapter, and in the discretion of the director, provisions of the Idaho bank act regarding organization, operation and closing of banks shall apply to applicants for a charter under this chapter and to state trust companies.
[26-3501, added 2000, ch. 288, sec. 11, p. 985.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 26-3501
What does Idaho Statutes § 26-3501 cover?
Section 26-3501 ("Prerequisite to engaging in trust business") is part of the Idaho Statutes, the codified statutory law of Idaho. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Idaho § 26-3501?
A common citation format is "Idaho Statutes § 26-3501" (Idaho). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 26-3501 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Idaho.