Idaho Code § 26-216

This is the official text of Idaho Code § 26-216, 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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26-216 CUSTODIAL ACCOUNTS.

Official statutory text

26-216. Custodial accounts. A bank is authorized to act as custodian or fiduciary, and may receive reasonable compensation for so acting, under any written trust instrument or custodial agreement in connection with a tax-advantaged savings plan authorized under the Internal Revenue Code or chapter 30, title 63, Idaho Code, if the funds of such trust or funds subject to the custodial agreement are invested only in savings accounts or deposits in such bank or in obligations or securities issued by such bank. All funds held in such custodial or fiduciary capacity by any such bank may be commingled for appropriate purposes of investment, but individual records shall be kept by the custodian for each participant and shall show in proper detail all transactions engaged in under the authority of this section.

History:

[26-216, added 1979, ch. 41, sec. 2, p. 76; am. 2020, ch. 181, sec. 1, p. 557.]

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.