ID S1132

Amends Idaho Code Section 14-542 to include broadband service alongside telecommunications and electric power as services provided by nonprofit corporations eligible for unclaimed property exemptions.

Allows nonprofit corporations providing telecommunications, broadband, or electric service to exempt themselves from reporting unclaimed capital credits by filing notice with the administrator.

Nonprofit corporations electing this exemption must establish procedures in their bylaws or policies to determine when capital credits are unclaimed and attempt to locate and return them to members.

Permits nonprofit corporations to use unclaimed capital credits for the benefit of general membership or communities served if funds remain unclaimed for two (2) years after being determined unclaimed, regardless of other provisions of law.

Allows nonprofit corporations to elect publication by the administrator pursuant to Idaho Code Section 14-518 as part of their procedures to attempt locating members with unclaimed credits.