STATEMENT OF PURPOSE
RS28297 / S1049
The purpose of this legislation is to focus on three main areas: providing regulatory relief for state-chartered
banks, bringing bank management concerns into today’s reality of remote meetings, and distancing, and
updating fees owed for banks over $10 billion in asset size. Below are the specific amendments to this bill:
• Updates the requirement to conduct regular or special meetings of stockholders, board of directors, board
committees, or the executive committee remotely
• Eliminates the residency requirements for a bank’s board of directors;
• Decreases the number of annual required bank board meetings from ten to six;
• Eliminates the twenty percent write-down on bank-owned real estate during the Department of Finance
Director-approved second 5-year period;
• Updates bank fees for institutions with excess of $10 billion in total assets.
FISCAL NOTE
This legislation will have no impact to the Idaho General Fund because it is administrative in nature. Idaho
does not have any banks that are over the $10 billion asset threshold so there will not be a positive or negative
financial impact to the adjustments on the fees in either category.
Contact:
Representative Rod Furniss
(208) 589-1100
DISCLAIMER: This statement of purpose and fiscal note are a mere attachment to this bill and prepared by a proponent
of the bill. It is neither intended as an expression of legislative intent nor intended for any use outside of the legislative
process, including judicial review (Joint Rule 18).
Statement of Purpose / Fiscal Note Bill SOP/FN INTRODUCED: 02/02/2021, 4:07 PM


Statutes affected:
Bill Text: 26-208, 26-213, 26-707, 26-1104