Idaho § 54-2043 - Interest-bearing trust accounts
Full text of Idaho Idaho Statutes § 54-2043 — Interest-bearing trust accounts, with citation guidance and answers to common questions.
§ 54-2043. Interest-bearing trust accounts
The broker may deposit funds in a separate, interest-bearing trust account for a single transaction if directed in writing by both parties to the transaction, and only if the following additional requirements are met:
(1) The interest-bearing trust account must be established in accordance with all requirements in section 54-2042 , Idaho Code. However, the interest-bearing trust account shall be created at an approved depository.
(2) The deposit shall be made in the name of the broker, as described above, and each such account shall contain only the funds relating to one (1) transaction.
(3) The interest-bearing trust account, when created for this purpose, must allow for withdrawal of the funds upon the broker’s demand, unless all parties direct the broker in writing to do otherwise.
(4) There must be a written agreement signed by both the buyer and the seller stating who is to receive the interest accrued from the deposit. This agreement is to be retained by the responsible broker in the transaction file with a copy given to the buyer and the seller.
[54-2043, added 2000, ch. 285, sec. 3, p. 934; am. 2005, ch. 107, sec. 14, p. 353.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 54-2043
What does Idaho Statutes § 54-2043 cover?
Section 54-2043 ("Interest-bearing trust accounts") 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 § 54-2043?
A common citation format is "Idaho Statutes § 54-2043" (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 § 54-2043 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.