It shall be unlawful for the officers or directors of the banking corporation to accept the note of any subscriber or stockholder in payment or part payment of the par value of the common stock, surplus or undivided profits.
Idaho Code § 26-1218
Notes for stock subscription illegal
Current official text: Idaho Statutes (Idaho Legislature). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Idaho statutes; confirm against the official source for the current text. Not legal advice.