Idaho State Statutes - Idaho Attorney Directory

(1) The business of a
licensee shall be the business of providing financing assistance and
management assistance to business firms. A licensee shall not engage in a
business other than the business of providing financing assistance and
management assistance to business firms.
(2) In addition to the powers and privileges provided to a licensee by
this chapter, a licensee has all powers and privileges conferred by its
incorporating statute which are not inconsistent with or limited by this
chapter. The powers of a licensee include, but are not limited to, all of the
following:
(a) To borrow money and otherwise incur indebtedness for its purposes,
including issuance of corporate bonds, debentures, notes, or other
evidence of indebtedness. A licensee's indebtedness may be secured or
unsecured, and may involve equity features including, but not limited to,
provisions for conversion to stock and warrants to purchase stock.
(b) To make contracts. Such contracts may include contracts to provide
management assistance to business firms, which contracts shall be in
writing, and the terms of which shall govern all aspects of the
relationship between the licensee and the business firm regarding the
management assistance provided by the licensee.
(c) To incur and pay necessary and incidental operating expenses.
(d) To purchase, receive, hold, lease, or otherwise acquire, or to sell,
convey, mortgage, lease, pledge, or otherwise dispose of, real or personal
property, together with rights and privileges that are incidental and
appurtenant to these transactions of real or personal property, if the
real or personal property is for the licensee's use in operating its
business or if the real or personal property is acquired by the licensee
from time to time in satisfaction of debts or enforcement of obligations.
(e) To make donations for charitable, educational, research, or similar
purposes.
(f) To implement a reasonable and prudent policy for conserving and
investing its money before the money is used to provide financing
assistance to business firms or to pay the expenses of the licensee.

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