Senate Bill No. 1049 Summary

• Allows bank board of directors meetings to be held outside Idaho with director approval and permits remote participation by directors through simultaneous communication methods.

• Reduces required annual board meetings from ten to six meetings per year, with no more than 90 days allowed between meetings, and permits the director to approve further reductions upon written application.

• Removes provisions restricting bank real estate holdings and clarifies procedures for appraising and evaluating real estate acquired through debt satisfaction or foreclosure.

• Revises the state bank licensing fee schedule, increasing maximum fees for larger banks: banks with $10-$20 billion in assets increase from $369,425 to $752,850, and banks with $20 billion and over increase from $689,425 to $1,052,850.