26-2901 Short Title
26-2902 Definitions
26-2903 License Required
26-2904 Exemptions
26-2905 License Qualifications
26-2906 Permissible Investments
26-2907 License Application
26-2908 Bond or Other Security Device
26-2909 Application Fee
26-2910 Issuance of License
26-2911 Renewal of License and Annual Report
26-2912 Extraordinary Reporting Requirements
26-2913 Changes in Control of a License
26-2914 Authority to Conduct Examinations and Investigations
26-2915 Maintenance of Records
26-2916 Confidentiality of Data Submitted to the Director
26-2917 Suspension or Revocation of Licenses
26-2918 Authorized Representative Contracts
26-2919 Authorized Representative Conduct
26-2920 Revocation or Suspension of Authorized Representatives
26-2921 Licensee Liability
26-2922 Hearings — Procedures
26-2923 Civil Penalties
26-2924 Enforcement
26-2925 Criminal Penalties
26-2926 Promulgation of Rules
26-2927 Severability
26-2928 Appointment of Director as Agent for Service of Process

Terms Used In Idaho Code > Title 26 > Chapter 29 - Money Transmission

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Applicant: means a person filing an application for a license under the provisions of this chapter. See Idaho Code 26-2902
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Authorized representative: means an entity designated by the licensee under the provisions of this chapter to sell or issue payment instruments or engage in the business of transmitting money on behalf of a licensee. See Idaho Code 26-2902
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Control: means ownership of, or the power to vote, twenty-five percent (25%) or more of the outstanding voting securities of a licensee or controlling person. See Idaho Code 26-2902
  • Controlling person: means any person in control of a licensee. See Idaho Code 26-2902
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Department: means the Idaho department of finance. See Idaho Code 26-2902
  • Director: means the director of the department of finance. See Idaho Code 26-2902
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Executive officer: means the licensee’s president, chief executive officer, treasurer, chief financial officer and any other person who performs similar functions. See Idaho Code 26-2902
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Key shareholder: means any person, or group of persons acting in concert, who is the owner of twenty-five percent (25%) or more of any class of an applicant’s stock. See Idaho Code 26-2902
  • Licensee: means a person licensed under the provisions of this chapter. See Idaho Code 26-2902
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Material litigation: means any litigation that, according to generally accepted accounting principles, is deemed significant to the financial health of a business and would be required to be referenced in the business’s annual audited financial statements, report to shareholders or similar documents. See Idaho Code 26-2902
  • Money transmission: means the sale or issuance of payment instruments or engaging in the business of receiving money for transmission or the business of transmitting money within the United States or to locations outside the United States by any and all means including, but not limited to, payment instrument, wire, facsimile or electronic transfer. See Idaho Code 26-2902
  • Oath: A promise to tell the truth.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Payment instrument: means any check, draft, money order, traveler’s check or other instrument or written order for the transmission or payment of money, sold or issued to one (1) or more persons, whether or not such instrument is negotiable. See Idaho Code 26-2902
  • Permissible investments: means :
Idaho Code 26-2902
  • Person: means any individual, partnership, association, joint stock association, limited liability company, trust or corporation. See Idaho Code 26-2902
  • Property: includes both real and personal property. See Idaho Code 73-114
  • Service of process: The service of writs or summonses to the appropriate party.
  • State: means the state of Idaho. See Idaho Code 26-2902
  • Subpoena: A command to a witness to appear and give testimony.
  • Subpoena duces tecum: A command to a witness to produce documents.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.