Idaho Code
Idaho Code § 30-1503 (2026)
Exempt person — Transactions.
✓ current as of May 2026
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Exempt person — Transactions.
(1) The prohibitions in section 30-1502, Idaho Code, shall not apply to any transaction offered by and in which any of the following persons or any employee, officer or director thereof, acting solely in that capacity is the purchaser or seller:
(a) A person registered with the commodity futures trading commission as a futures commission merchant or as a leverage transaction merchant whose activities require such registration;
(b) A person registered with the securities and exchange commission or under the laws of this state as a securities broker-dealer whose activities require such registration;
(c) A person affiliated with, and whose obligations and liabilities under the transaction are guaranteed by a person referred to in paragraph (a) or (b) of this subsection;
(d) A person who is a member of a contract market designated by the commodity futures trading commission or any clearinghouse thereof; or
(e) A financial institution.
(2) The exemption provided in this section shall not apply to any transaction or activity which is prohibited by the commodity exchange act or CFTC rule.
Notes of Decisions
Cited in 3
cases, 1977–1978 · leading case: Great W. United Corp. v. Kidwell, 439 F. Supp. 420 (N.D. Tex. 1977).
Great W. United Corp. v. Kidwell, 439 F. Supp. 420 (N.D. Tex. 1977). “Baptie, indicating that he found Great Western’s disclosures inadequate and that the twenty day time period for a hearing, provided by the Idaho takeover statute, Idaho Code § 30-1503 (5), would not start to run until a complete statement was received, completeness to be…”
Langbein v. Kirkland, 577 F.2d 1296 (5th Cir. 1978). “21 Idaho Code § 30-1503 (1) states, in part, that “It is unlawful for any person to make a take-over offer involving a target company in this state, or to acquire any equity securities of a target company pursuant to the offer, unless the offer is effective under this chapter or…”
Great W. United Corp. v. Kidwell, 577 F.2d 1256 (5th Cir. 1978). “See Aranow, Einhorn & Berlstein, Developments in Tender Offers for Corporate Control 227 (1977). A similar argument can be made about withdrawal privileges.”
— Idaho Code § 30-1503(1) — 2 cases
Great W. United Corp. v. Kidwell, 577 F.2d 1256 (5th Cir. 1978). “See Aranow, Einhorn & Berlstein, Developments in Tender Offers for Corporate Control 227 (1977). A similar argument can be made about withdrawal privileges.”
Langbein v. Kirkland, 577 F.2d 1296 (5th Cir. 1978). “21 Idaho Code § 30-1503 (1) states, in part, that “It is unlawful for any person to make a take-over offer involving a target company in this state, or to acquire any equity securities of a target company pursuant to the offer, unless the offer is effective under this chapter or…”
— Idaho Code § 30-1503(4) — 2 cases
Great W. United Corp. v. Kidwell, 577 F.2d 1256 (5th Cir. 1978). “See Aranow, Einhorn & Berlstein, Developments in Tender Offers for Corporate Control 227 (1977). A similar argument can be made about withdrawal privileges.”
Langbein v. Kirkland, 577 F.2d 1296 (5th Cir. 1978). “21 Idaho Code § 30-1503 (1) states, in part, that “It is unlawful for any person to make a take-over offer involving a target company in this state, or to acquire any equity securities of a target company pursuant to the offer, unless the offer is effective under this chapter or…”
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