Idaho § 26-804 - Borrowing money - Accounting
Full text of Idaho Idaho Statutes § 26-804 — Borrowing money - Accounting, with citation guidance and answers to common questions.
§ 26-804. Borrowing money - Accounting
No officer or employee of any bank shall issue the note of such corporation for money borrowed or rediscount any of its paper, or pledge or hypothecate any of its assets, except when authorized by resolution of its board of directors, or by an authorized committee thereof.
All borrowings shall be carried on the books of the bank, and in all reports of such bank under liabilities.
All rediscounted paper containing the endorsement of or guarantee of the bank discounting the same, except when endorsed without recourse, shall be carried on the books of the bank and in all reports of such bank under liabilities as "rediscounts," until the same are actually paid by the makers, other than by renewal, or the rediscounting bank itself takes up the paper.
[26-804, added 1979, ch. 41, sec. 2, p. 95.]
Frequently Asked Questions About Idaho § 26-804
What does Idaho Statutes § 26-804 cover?
Section 26-804 ("Borrowing money - Accounting") 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 § 26-804?
A common citation format is "Idaho Statutes § 26-804" (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 § 26-804 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.