House Bill 583, effective July 1, 2022, enacts the Digital Assets Act, which among other things, classifies digital assets as general intangibles and digital securities as investment property and provides for perfection by control and possession.
House Bill 103, effective July 1, 2021, amends the nonprofit corporation act to provide for remote meetings to the extent authorized by the board of directors.
Reliance on SOS Records of Corporate Status
Hollingsworth v. Thompson, No. 47488, decided December 23, 2020. The Idaho Supreme Court held that the plaintiff in a medical malpractice suit could rely on the Secretary of State’s records that indicated the defendant hospital was owned and operated by a private nonprofit corporation. The defendants admitted a nonprofit corporation was formed to help what had been a county-owned hospital obtain a loan. However they argued that the corporation was never actively operated and that the hospital was also county owned – which meant a notice of claim had to be filed. The court disagreed, noting that even if the corporation was not active and was allowed to be administratively dissolved, it still existed on paper and in the public records. The plaintiff was not required to investigate its ownership further and was not required to file a notice of claim.
May 21, 2020 — Idaho’s Attorney General and Secretary of State issued an alert to Idaho business owners regarding a deceptive and misleading mailing. The mailing is a request form for a 2020 certificate of existence. The alert states that the mailing was not authorized by the Secretary of State, that the sender is not affiliated with the state in any way, and any certificates sold by the company sending out the mailing are not official.