Idaho State Statutes - Idaho Attorney Directory

(1) The shares of stock of a bank shall be
deemed personal property and shall be transferred on the books of the bank in
such manner as the bylaws thereof shall direct.
(2) All transfer [transfers] of seven percent (7%) or more of the
outstanding stock of a bank by sale, gift or otherwise shall be reported to
the director thirty (30) days prior to such transfer and shall be approved by
the director prior to such transfer. The director may disapprove a transfer of
stock if he finds that the transferee has been removed from a position as a
director, officer or employee of a bank or other financial institution
pursuant to an order of a state or federal agency, has been convicted of a
felony or if in his opinion the transferee does not satisfy the requirements
of a stockholder, director or officer as set out in section 26-202, Idaho
Code. The provisions of this subsection shall not apply to a voting trust
existing prior to July 1, 1978.
(3) All transfers of stock shall be certified by the president of the
bank or secretary of the board of directors to the department within twenty
(20) days after such transfer.

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