Idaho § 41-2870 - Definitions
Full text of Idaho Idaho Statutes § 41-2870 — Definitions, with citation guidance and answers to common questions.
§ 41-2870. Definitions
As used in this act:
(1) "Securities" means instruments as defined in section 28-8-102 (1)(o), Idaho Code.
(2) "Clearing corporation" means a corporation as defined in section 28-8-102 (1)(e), Idaho Code.
(3) "Direct participant" means a national bank, state bank or trust company that maintains an account in its name in a clearing corporation and through which an insurance company participates in a clearing corporation.
(4) "Federal reserve book-entry system" means the computerized systems sponsored by the United States department of the treasury and certain agencies and instrumentalities of the United States for holding and transferring securities of the United States government and such agencies and instrumentalities, respectively, in federal reserve banks through banks that are members of the federal reserve system.
(5) "Member bank" means a national bank, state bank or trust company that is a member of the federal reserve system and to which an insurance company participates in the federal reserve book-entry system.
[41-2870, added 1981, ch. 174, sec. 2, p. 308; am. 2021, ch. 321, sec. 28, p. 970.]
Frequently Asked Questions About Idaho § 41-2870
What does Idaho Statutes § 41-2870 cover?
Section 41-2870 ("Definitions") 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 § 41-2870?
A common citation format is "Idaho Statutes § 41-2870" (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 § 41-2870 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.