Idaho State Statutes - Idaho Attorney Directory

(1) When the reserve of any bank falls
below the amount required by section 26-601, Idaho Code, for a biweekly
period, the bank shall immediately restore its reserve to the amount required
by section 26-601, Idaho Code, and in addition:
(a) If a bank is deficient in reserve for two (2) nonconsecutive biweekly
periods in a calendar year, the bank shall pay to the department of
finance at the end of [the] second biweekly period a fine of three hundred
dollars ($300).
(b) If a bank is deficient in reserves for three (3) nonconsecutive
biweekly periods in a calendar year, the bank shall pay to the department
of finance at the end of the third biweekly period a fine equal to five
percent (5%) of the dollar amount by which it was deficient in reserves
for the third biweekly period or five hundred dollars ($500), whichever is
greater.
(c) If a bank is deficient in reserves for more than three (3)
nonconsecutive biweekly or for two (2) or more consecutive periods in a
calendar year, the director shall proceed as provided in section 26-1115,
Idaho Code. The bank shall not increase its loans or discounts until its
reserve is fully restored and the director may by order set a minimum
level of cash reserves which the bank must maintain until such time as the
director has reason to believe that the bank will comply with the reserve
requirements of section 26-601, Idaho Code.
(2) The penalties set out in subsection (1) of this section are not
exclusive. The director may in proper cases proceed in his discretion as
provided in section 26-1115, Idaho Code, or chapter 10, title 26, Idaho Code.

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