Idaho Code § 14-5-601
This is the official text of Idaho Code § 14-5-601, part of Idaho’s Code — part of the compiled statutory law of Idaho, published by the state as "Code." Browse the sections below, each linked to its official government source.
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14-5-601 DEFINITION OF “GOOD FAITH.”
Official statutory text
PART 6
TAKING CUSTODY OF PROPERTY BY ADMINISTRATOR
14-5-601. DEFINITION OF "GOOD FAITH." For the purposes of this part, payment or delivery of property is made in good faith if a holder:
(1) Had a reasonable basis for believing, based on the facts then known, that the property was required or permitted to be paid or delivered to the administrator under this chapter; or
(2) Made payment or delivery:
(a) In response to a demand by the administrator or administrator's agent; or
(b) Under a guidance or ruling issued by the administrator that the holder reasonably believed required or permitted the property to be paid or delivered.
History:
[14-5-601, added 2024, ch. 27, sec. 2, p. 199.]
TAKING CUSTODY OF PROPERTY BY ADMINISTRATOR
14-5-601. DEFINITION OF "GOOD FAITH." For the purposes of this part, payment or delivery of property is made in good faith if a holder:
(1) Had a reasonable basis for believing, based on the facts then known, that the property was required or permitted to be paid or delivered to the administrator under this chapter; or
(2) Made payment or delivery:
(a) In response to a demand by the administrator or administrator's agent; or
(b) Under a guidance or ruling issued by the administrator that the holder reasonably believed required or permitted the property to be paid or delivered.
History:
[14-5-601, added 2024, ch. 27, sec. 2, p. 199.]
Status: in_force · Read it on the official government site
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