If an application has been submitted by such out-of-state financial institution holding company to, and prior written approval has been obtained from the director, pursuant to section 26-2606, Idaho Code, an out-of-state financial institution holding company may:
(a) Acquire control of;
(b) Acquire all or substantially all of the assets of;
(c) Merge or consolidate with; or
(d) Assume the deposit liabilities of an Idaho financial institution.
Terms Used In Idaho Code 26-2605
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Director: means the director of the department of finance. See Idaho Code 26-2603
- Financial institution: means any state bank, national bank, trust company, savings and loan association, savings bank, federal savings and loan association, federal savings bank, or credit union, as those terms are defined in title 26, Idaho Code, or any federal credit union organized under the federal credit union act (12 U. See Idaho Code 26-2603
- Financial institution holding company: means a person, other than an individual, that has or acquires control over any financial institution. See Idaho Code 26-2603
- Idaho financial institution: means :
Idaho Code 26-2603
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.