Idaho State Statutes - Idaho Attorney Directory

All conversions from one (1) form of charter to
another issued by the department shall be approved in advance in writing by
the director. All conversion applications filed with the director involving
savings banks, including conversion applications under section 26-1813, Idaho
Code, shall include a plan for establishing and maintaining adequate capital
to assure the continued safe and sound operation of the bank, savings bank or
credit union. Capital plans shall be subject to the approval of the director.
(1) A federal savings and loan association or a federal savings bank, if
organized on a capital stock basis, may convert its charter to that of an
Idaho bank or a savings bank by proceeding in accordance with section 26-906,
Idaho Code.
(2) A federal savings bank organized on a mutual basis may converts
[convert] its charter to that of an Idaho mutual savings bank by filing an
application in a form approved by the director.
(3) A savings bank may convert its state charter to a federal charter by
complying with applicable federal law.
(4) A mutual savings bank may convert its form of organization to that of
a stock savings bank by complying with section 26-1813, Idaho Code.
(5) A mutual savings bank may convert its form of organization to that of
a credit union by filing an application in a form approved by the director.
(6) A stock savings bank may convert its charter to that of a state bank
by proceeding in accordance with section 26-906, Idaho Code.
(7) A bank chartered under the Idaho bank act may convert its charter to
that of a stock savings bank by filing an application on a form approved by
the director.
(8) A credit union organized under chapter 21, title 26, Idaho Code, may
change its charter to that of a mutual savings bank by filing an application
on a form approved by the director.
(9) If permitted by federal law, a national bank may convert its charter
to that of a stock savings bank by filing an application on a form approved by
the director.
(10) If permitted by federal law, a federal credit union may convert its
charter to that of a mutual savings bank by filing an application on a form
approved by the director.

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