Idaho § 41-2862 - Restrictions on sale of equity securities
Full text of Idaho Idaho Statutes § 41-2862 — Restrictions on sale of equity securities, with citation guidance and answers to common questions.
§ 41-2862. Restrictions on sale of equity securities
It shall be unlawful for any such beneficial owner, director or officer, directly or indirectly, to sell any equity security of such company if the person selling the security or his principal:
(a) does not own the security sold; or
(b) if owning the security, does not deliver it against such sale within twenty (20) days thereafter, or does not within five (5) days after such sale deposit in the mails or other usual channels of transportation; but no person shall be deemed to have violated this section if he proves that notwithstanding the exercise of good faith he was unable to make such delivery or deposit within such time, or that to do so would cause undue inconvenience or expense.
[41-2862, added 1965, ch. 294, sec. 3, p. 782.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 41-2862
What does Idaho Statutes § 41-2862 cover?
Section 41-2862 ("Restrictions on sale of equity securities") 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 § 41-2862?
A common citation format is "Idaho Statutes § 41-2862" (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 § 41-2862 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.