Idaho § 26-3504 - Minimum capital
Full text of Idaho Idaho Statutes § 26-3504 — Minimum capital, with citation guidance and answers to common questions.
§ 26-3504. Minimum capital
(1) A charter shall not be issued to a corporation applying for a state trust company charter having a paid-in capital of less than one million five hundred thousand dollars ($1,500,000).
(2) A charter to operate a trust department shall not be issued to a bank unless the capital of the bank is in an amount of not less than one million five hundred thousand dollars ($1,500,000), in addition to its statutory required minimum capital for a bank charter required by section 26-205 , Idaho Code.
(3) Subject to subsection (4) of this section, a state trust company or state bank shall at all times maintain capital in at least the amount required under subsections (1) and (2) of this section.
(4) The director may require additional capital for a proposed or existing state trust company or state bank or, on application in the exercise of discretion consistent with protecting safety and soundness, reduce the amount of minimum capital required for a proposed or existing state trust company or state bank.
[26-3504, added 2000, ch. 288, sec. 11, p. 986.]
Frequently Asked Questions About Idaho § 26-3504
What does Idaho Statutes § 26-3504 cover?
Section 26-3504 ("Minimum capital") 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 § 26-3504?
A common citation format is "Idaho Statutes § 26-3504" (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 § 26-3504 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.