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Idaho Statutes Title 26. Banks and Banking § 26-2143. Head office and branch offices

Current as of January 01, 2024 | Updated by Findlaw Staff

(1) A credit union may relocate its head office and the location of its books and records upon written notice to the director.

(2) A credit union may, under such rules as the director may adopt, establish branch offices at locations other than its head office. A credit union shall notify the director in writing at least thirty (30) days before opening a branch office location to conduct business.

(3) Prior to opening a branch office location, a credit union must obtain written approval from the director if:

(a) The credit union is subject to an order issued by the director pursuant to this chapter;

(b) The credit union's current CAMELS rating or its current management or capital CAMELS component ratings, as issued by the director, is a “3,” “4,” or “5”; or

(c) The location of a proposed branch office is outside of the credit union's current field of membership if its membership is based on a well-defined neighborhood, community, or rural district.

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Cite this article: FindLaw.com - Idaho Statutes Title 26. Banks and Banking § 26-2143. Head office and branch offices - last updated January 01, 2024 | https://codes.findlaw.com/id/title-26-banks-and-banking/id-st-sect-26-2143/

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