TITLE 26

BANKS AND BANKING

CHAPTER 21

IDAHO CREDIT UNION ACT

26-2143.  HEAD OFFICE AND BRANCH OFFICES. (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.

History:

[26-2143, added 2022, ch. 78, sec. 12, p. 225.]