Idaho State Statutes - Idaho Attorney Directory

Any bank shall have the power to
subscribe to the capital stock and become a member of a federal reserve bank.
Any bank incorporated under the laws of this state which is or which
becomes a member of a federal reserve bank is, by the bank act, vested with
all powers conferred upon member banks of the federal reserve banks by the
terms of the Federal Reserve Act as fully and completely as if such powers
were specifically enumerated and described herein. All such powers shall be
exercised subject to all restrictions and limitations imposed by the Federal
Reserve Act, or by regulations of the Federal Reserve Board, made pursuant
thereto. The right of the legislature to revoke or to amend the powers herein
converted is, however, expressly reserved.
Compliance on the part of any such bank with the reserve requirements of
the Federal Reserve Act shall be held to be in full compliance with those
provisions of the laws of this state which require banks to maintain cash
balances in their vaults or with other banks, and no such bank shall be
required to carry or maintain reserve other than such as is required under the
terms of the Federal Reserve Act. Any such bank shall continue to be subject
to the supervision and examinations required by the laws of this state, except
that the Federal Reserve Board shall have the right, if it deems necessary, to
make examinations; and the authorities of this state having supervision over
such bank may disclose to the Federal Reserve Board or to examiners duly
appointed by it, all information in reference to the affairs of any bank which
has become or desires to become a member of a federal reserve bank.

Click here to visit the Official Idaho State Statutes