Idaho § 68-701 - Establishment of common trust funds
Full text of Idaho Idaho Statutes § 68-701 — Establishment of common trust funds, with citation guidance and answers to common questions.
§ 68-701. Establishment of common trust funds
(1) Any bank or trust company, state or national, qualified to act as fiduciary in this state may establish common trust funds for the purpose of furnishing investments to itself as fiduciary, to an affiliated bank or trust company as fiduciary, or to itself or an affiliated bank or trust company and others, as co-fiduciaries; and may, as such fiduciary, affiliate of a fiduciary or co-fiduciary, or co-fiduciary, invest funds which it lawfully holds for investment in interests in such common trust funds administered by itself or by any affiliated bank or trust company, if such investment is not prohibited by the instrument, judgment, decree, or order creating such fiduciary relationship, and if, in the case of co-fiduciaries, the bank or trust company procures the consent of its co-fiduciaries to such investment.
(2) For purposes of this section, two (2) or more banks or trust companies are affiliated if they are members of the same affiliated group, within the meaning of section 1504 of the United States internal revenue code, as amended, whether the affiliate’s principal place of business is within or without the state of Idaho.
[68-701, added1949, ch. 34, sec. 1, p. 57; am. 1986, ch. 55, sec. 1, p. 162.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 68-701
What does Idaho Statutes § 68-701 cover?
Section 68-701 ("Establishment of common trust funds") 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 § 68-701?
A common citation format is "Idaho Statutes § 68-701" (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 § 68-701 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.