Idaho Code § 26-2902, Definitions (Idaho Money Transmitters Act)

Document text

Research, not advice. Part of the Bitcoin research archive (October 2026). Claims labelled unverified, contested or fringe are reported, not endorsed; statuses of bills and rules are as of the date checked. Government, court and patent records are public domain; the research notes are CC BY 4.0.

Section 26-2902 – Idaho State Legislature

                            The official website of the

Idaho Legislature

State of Idaho

Who’s My Legislator?

×
Search Entire SiteSearch Idaho StatutesSearch Idaho ConstitutionSearch House of RepresentativesSearch SenateSearch Capitol ServicesSearch 2026 Regular Legislative SessionSearch 2025 Regular Legislative SessionSearch 2024 Regular Legislative SessionSearch 2023 Regular Legislative SessionSearch 2022 Extraordinary Legislative SessionSearch 2022 Regular Legislative SessionSearch 2021 Regular Legislative SessionSearch 2020 Extraordinary Legislative SessionSearch 2020 Regular Legislative SessionSearch 2019 Regular Legislative SessionSearch 2018 Regular Legislative SessionSearch 2017 Regular Legislative SessionSearch 2016 Regular Legislative SessionSearch 2015 Extraordinary Legislative SessionSearch 2015 Regular Legislative SessionSearch 2014 Regular Legislative SessionSearch 2013 Regular Legislative SessionSearch 2012 Regular Legislative SessionSearch 2011 Regular Legislative SessionSearch 2010 Regular Legislative SessionSearch 2009 Regular Legislative SessionSearch 2008 Regular Legislative SessionSearch 2007 Regular Legislative SessionSearch 2006 Extraordinary Legislative SessionSearch 2006 Regular Legislative SessionSearch 2005 Regular Legislative SessionSearch 2004 Regular Legislative SessionSearch 2003 Regular Legislative SessionSearch 2002 Regular Legislative SessionSearch 2001 Regular Legislative SessionSearch 2000 Extraordinary Legislative SessionSearch 2000 Regular Legislative SessionSearch 1999 Regular Legislative SessionSearch 1998 Regular Legislative Session
 Search

Senate

Senate Leadership

Senate Membership

Senate Reading Calendars

Senate Standing Committees

Senate/Joint Rules

Senate Staff

Senate Page Program

Session Job Opportunities

Legislative Housing

House

House Leadership

House Membership

House Reading Calendars

House Standing Committees

House/Joint Rules

House Staff

House Page Program

Session Job Opportunities

Legislative Housing

Committees

Senate Standing Committees

House Standing Committees

Joint Standing Committees

Interim/Special Committees

Legislative Compensation

Legislative Council

Testiying Before Legislative Committees

Legislators

Senate Membership

House Membership

Who’s My Legislator?

Contacting Legislators

Laws/Rules

Idaho Statutes

Idaho Constitution

Idaho Session Laws

Administrative Rules

Senate Rules

House Rules

Joint Senate and House Rules

Legislative Sessions

Live Audio/Video Streaming

Home
Idaho Laws & Rules
Idaho Statutes
Title 26
Chapter 29
Section 26-2902

            Print Friendly

                 Idaho Statutes
Idaho Statutes are updated to the website July 1 following the legislative session.

Search Idaho Statutes

            Search Statutes

             Search Constitution

pecnv.out

TITLE 26

BANKS AND BANKING

CHAPTER 29

MONEY TRANSMISSION

26-2902.  Definitions. Unless otherwise indicated, the following definitions shall apply to the terms set forth below wherever such terms are used in this chapter:

(1)  "Applicant" means a person filing an application for a license under the provisions of this chapter.

(2)  "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.

(3)  "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.

(4)  "Controlling person" means any person in control of a licensee. On application the director shall determine whether a particular person qualifies as a controlling person. The director may waive any or all requirements of this chapter pertaining to a controlling person for good cause shown.

(5)  "Department" means the Idaho department of finance.

(6)  "Director" means the director of the department of finance.

(7)  "Executive officer" means the licensee’s president, chief executive officer, treasurer, chief financial officer and any other person who performs similar functions.

(8)  "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.

(9)  "Licensee" means a person licensed under the provisions of this chapter.

(10) "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.

(11) "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.

(12) "Outstanding payment instrument" means any payment instrument issued by the licensee which has been sold in the United States directly by the licensee or by an authorized representative of the licensee, which has been reported to the licensee as having been sold and which has not yet been paid by or for the licensee.

(13) "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. The term "payment instrument" does not include any credit card voucher, any letter of credit or any instrument which is redeemable by the issuer in goods or services.

(14) "Permissible investments" means:

(a)  Cash;

(b)  Certificate of deposit or other debt obligations of a financial institution, either domestic or foreign;

(c)  Bills of exchange or time drafts drawn on and accepted by a commercial bank, otherwise known as bankers’ acceptances, which are eligible for purchase by member banks of the federal reserve system;

(d)  Any investment bearing a rating of one (1) of the three (3) highest grades as defined by a nationally recognized organization that rates such securities;

(e)  Investment securities that are obligations of the United States, its agencies or instrumentalities, or obligations that are guaranteed fully as to principal and interest of the United States, or any obligations of any state, municipality or any political subdivision thereof;

(f)  Shares in a money market mutual fund, interest-bearing bills or notes or bonds, debentures or stock traded on any national securities exchange or on a national over-the-counter market, or mutual funds primarily composed of such securities;

(g)  Any demand borrowing agreement or agreements made to a corporation or a subsidiary of a corporation whose capital stock is listed on a national exchange; or

(h)  Receivables which are due to a licensee from its authorized representatives pursuant to a contract described in section 26-2918, Idaho Code, which are not past due or doubtful of collection; or any other investments approved by the director.

(15)  "Person" means any individual, partnership, association, joint stock association, limited liability company, trust or corporation.

(16)  "State" means the state of Idaho.

History:

[26-2902, added 1994, ch. 410, sec. 1, p. 1282.]

How current is this law?

Who’s My Legislator?

State Senate

P.O. Box 83720
Boise, ID 83720-0081
P: 208-332-1000 | F: 208-334-2320

Public Records Request: P: 208-334-2475

E: [email protected]

House of Representatives

P.O. Box 83720
Boise, ID 83720-0038
P: 208-332-1000

Information Center: P: 208-332-1000

E: [email protected]

Legislative Services Office

P.O. Box 83720
Boise, ID 83720-0054
P: 208-334-2475
TTY/TTD  Call: 7-1-1

Website issues: E: [email protected]

Capitol Gift Shop

Congressional Delegation

                    © 2026 Idaho State Legislature. | Maintained By: [email protected]
 Site Disclaimer -- Privacy Policy -- Cybersecurity