Idaho State Statutes - Idaho Attorney Directory

BANKS EMPOWERED TO COMPLY WITH REQUIREMENTS FOR FEDERAL DEPOSIT
INSURANCE. Any banking institution now or hereafter organized under the laws
of this state is hereby empowered, on the authority of its board of directors,
or a majority thereof, to enter into such contracts, incur such obligations
and generally to do and perform any and all such acts and things whatsoever as
may be necessary or appropriate in order to take advantage of any and all
memberships, loans, subscriptions, contracts, grants, rights, or privileges,
which may at any time be available or enure to banking institutions or to
their depositors, creditors, stockholders, conservators, receivers or
liquidators, by virtue of those provisions of section 8 of the federal
"Banking Act of 1933" (sec. 12B of the Federal Reserve Act, as amended), which
establish the Federal Deposit Insurance Corporation and provide for the
insurance of deposits, or of any other provisions of that or of any other act
or resolution of congress to aid, regulate or safeguard banking institutions
and their depositors, including any amendments of the same or any
substitutions therefor; also, to subscribe for and acquire any stock,
debentures, bonds or other types of securities of the Federal Deposit
Insurance Corporation and to comply with the lawful regulations and
requirements from time to time issued or made by such corporation.

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