Corporations — Constitution Of The State Of Idaho

TITLE 30 CORPORATIONS CHAPTER 5 CORPORATIONS 30-501. Corporations — Constitution of the state of Idaho. (1) Every corporation organized for any lawful purpose or purposes, whether a general business corporation or a designated class of corporation, shall, by the act of filing incorporation documents with the state of Idaho, acknowledge and accept the provisions of the constitution of the state of Idaho and the provisions of this chapter as binding upon that corporation. (2)  Except as expressly authorized by the legislature through the enactment of general laws or pursuant to subsection (4) of this section, the state shall not file or cause to be filed on its behalf articles of incorporation for any corporation that is provided for in subsection (1) of this section. If any articles of incorporation are filed by the state or on its behalf without the authorization of the legislature as required pursuant to this subsection, the secretary of state shall not accept such articles of incorporation. In no instance shall the state constitute the voting majority of the board of directors or members of a corporation or its subsidiary. For purposes of this section, "state" means the state of Idaho, a state officer acting in an official capacity, a state employee acting within the scope of employment, or a state agency, department, division, bureau, board, commission, or institution. (3)  The state shall not file or cause to be filed on its behalf articles of incorporation for a corporation to carry out a purpose or function in lieu of the state or to receive or expend appropriated funds in furtherance of such purpose or function. (4)  It is not a violation of the provisions of this section for the state to: (a)  Create or to authorize the creation of an independent public body politic and corporate; or (b)  Associate with a corporation to provide a benefit to the state, provided that the state is not an owner, stockholder, or controlling member of such corporation. (5)  For the purposes of this section, "independent public body politic and corporate" means an entity that is: (a)  Created in statute to carry out a public purpose; (b)  Devoid of any private party with the right to control the entity or manage it; and (c)  Lacking any potential for private parties to change the fundamental structure or public purpose of the entity as provided for in the statute that created it.