Idaho § 26-3509
Full text of Idaho Idaho Statutes § 26-3509, with citation guidance and answers to common questions.
§ 26-3509.
Loans to directors, officers or employees prohibited - Loans to affiliates or subsidiaries prohibited. (1) A state trust company or bank having a trust department shall not make any loan to any director, officer or employee of the trust institution or to any affiliate or subsidiary corporation or to any director, officer or employee of an affiliate or subsidiary corporation from its trust funds. A state trust company or bank having a trust department shall not permit any director, officer, employee, affiliate or subsidiary corporation to become indebted to it in any manner out of its trust funds unless specifically authorized to do so by the terms of the trust.
(2) This section shall not prevent the maintenance by a state trust company of its trust funds in time or demand deposits in an affiliate which is a bank, or a trust department of a bank from maintaining its trust funds in the bank in accordance with section 26-3508 , Idaho Code.
[26-3509, added 2000, ch. 288, sec. 11, p. 987.]
Frequently Asked Questions About Idaho § 26-3509
What does Idaho Statutes § 26-3509 cover?
Section 26-3509 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 § 26-3509?
A common citation format is "Idaho Statutes § 26-3509" (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 § 26-3509 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.