Idaho § 26-802 - Issuance of convertible or nonconvertible capital debentures and notes
Full text of Idaho Idaho Statutes § 26-802 — Issuance of convertible or nonconvertible capital debentures and notes, with citation guidance and answers to common questions.
§ 26-802. Issuance of convertible or nonconvertible capital debentures and notes
The issuance of convertible or nonconvertible capital debentures and notes by banks in accordance with normal business considerations is permissible.
With the consent of the director, every bank is, however, authorized to issue and sell its capital notes or debentures, for all capital purposes, in an amount not to exceed one hundred percent (100%) of its unimpaired, paid-in capital stock, plus fifty percent (50%) of its unimpaired surplus fund. A bank may, with the approval of stockholders owning two-thirds (2/3) of the stock of the bank, entitled to vote, or without such approval if authorized by its articles of incorporation, issue convertible or nonconvertible capital debentures and notes in such amounts and under such terms and conditions as shall be approved by the director.
[26-802, added 1979, ch. 41, sec. 2, p. 95.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 26-802
What does Idaho Statutes § 26-802 cover?
Section 26-802 ("Issuance of convertible or nonconvertible capital debentures and notes") 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 § 26-802?
A common citation format is "Idaho Statutes § 26-802" (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 § 26-802 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.