Idaho State Statutes - Idaho Attorney Directory

Any director,
officer or employee of any bank holding company found by the director to be
negligent, dishonest, reckless or incompetent, in his official duties shall be
removed from office by the board of directors of such bank holding company on
the written order of the director, and if the directors neglect or refuse to
remove such director, officer, or employee, in the event any losses accrue to
such bank holding company thereafter by reason of the negligence, dishonesty,
recklessness or incompetency of such director, officer or employee, the
written order of the director shall be deemed to be conclusive evidence of the
negligence of the directors failing to act upon the same in any action brought
against them, or any of them, for recovery of such losses. The directors
[director], officer or employee affected by order of the director may petition
the district court in the judicial district in which the bank is located to
set aside the order of the director. Upon the filing of such petition the
court shall have the jurisdiction to affirm, set aside, or modify the order of
the director. If the directors fail to [or] neglect to remove such director,
officer or employee, and the director of the department of finance has
reasonable cause to believe that the continued participation in the affairs of
the bank holding company by the director, officer or employee will place the
bank holding company in an unsafe or unsound condition, the director of the
department of finance may apply to the district court for a temporary
restraining order and injunction preventing the participation of the director,
officer or employee in the affairs of the bank holding company. The findings
of the director as to the facts, if supported by substantial evidence, shall
be conclusive that the bank holding company director, officer or employee who
is the subject of an order for removal by the director is or has been
negligent, dishonest, reckless or incompetent in the performance of his
duties.

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