(1) The department of finance shall keep
proper books and records of all regulatory acts, matters and things done by it
under the provisions of chapters 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 18,
21, 26, 32, 33, 34, 35, 36 and 37, title 26, Idaho Code, as records of its
office, but the same shall be subject to disclosure according to chapter 3,
title 9, Idaho Code, except as otherwise provided in this section and in
sections 26-1112 and 67-2743E, Idaho Code.
(2) All written communications and copies thereof, between the
department, the director, department employees and any bank, bank holding
company, trust company, savings and loan association and credit union which
relate in any manner to the examination or condition of the financial
institution, are the property of the department of finance and, if acquired by
any person, shall be returned to the department upon written demand.
(3) (a) The director of the department of finance, any federal bank or
other financial institution regulatory or supervisory agency, and any
bank, bank holding company, trust company, savings and loan association,
or credit union incorporated or chartered under title 26, Idaho Code, or
under federal law or the law of any state and doing business in the state
of Idaho, shall each have a privilege to refuse to disclose and to prevent
any other person from disclosing confidential communications, and the
contents of any documents relating to any confidential communications,
between the financial institution and the department of finance or federal
bank or financial institution regulatory or supervisory agency made during
the regulatory relationship.
(b) A communication is confidential if it is made during the regulatory
relationship between the department of finance or the federal bank or
other financial institution regulatory or supervisory agency and any such
bank, bank holding company, trust company, savings and loan association or
credit union, and if the communication is not designed or intended for
disclosure to any other parties.
(c) The privilege may be claimed by the financial institution or by the
department of finance or the federal bank or other financial institution
regulatory or supervisory agency, or by the lawyer for either. The
privilege may be waived only in accordance with this section and sections
26-1112 and 67-2743E, Idaho Code.
(d) The director of the department of finance or the appropriate officer
or employee of the federal bank or other financial institution regulatory
or supervisory agency may disclose confidential communications between the
department or agency and financial institutions to the court, in camera,
in a civil action. Such disclosure shall also be a privileged
communication and the privilege may be claimed by the director, officer or
employee or his lawyer.
(e) No sanction may be imposed upon any financial institution as a result
of the claim of a privilege by the financial institution or the director
of the department of finance or the officer or employee of the federal
supervisory agency under this section. |
