Montana Code Annotated
Part 3. Formation and Reorganization
32-1-301. Organization and incorporation -- articles of incorporation

32-1-301. Organization and incorporation -- articles of incorporation. (1) A person desiring to organize a banking corporation shall make and file articles of incorporation with the department and, upon approval by the department, may file the articles with the secretary of state as provided in Title 35, chapter 14. The articles of incorporation must set forth:
(a) the information required by 35-14-202(1);
(b) the name of the city or town and county in which the principal office of the corporation is to be located;
(c) the names and places of residence of the initial shareholders and the number of shares subscribed by each;
(d) the number of the board of directors and the names of those agreed upon for the first year; and
(e) the purpose for which the banking corporation is formed, which may be set forth by the use of the general terms defined in this chapter, with reference to each line of business in which the proposed corporation desires to engage.
(2) In addition to provisions required in subsection (1), the articles of incorporation may also contain provisions set forth in 35-14-202(2).
(3) A banking corporation may not adopt or use the name of any other banking corporation or association, and the corporation name must comply with 35-14-401(2) through (4).
(4) A banking corporation may not be organized or incorporated until the articles of incorporation have been submitted to and have been approved by the department and until it has obtained a certificate from the board authorizing the proposed corporation to transact the business specified in the articles of incorporation within this state.
(5) A banking corporation may not amend or restate its articles of incorporation until its articles of amendment or articles of restatement have been submitted to and have been approved by the department and until it has obtained approval from the department authorizing the proposed amendment or restatement.
(6) For banks organized before October 1, 1993, articles of agreement are considered articles of incorporation.
History: Ap. p. Sec. 6, Ch. 89, L. 1927; re-en. Sec. 6014.10, R.C.M. 1935; amd. Sec. 1, Ch. 7, L. 1965; Sec. 5-201, R.C.M. 1947; Ap. p. Sec. 2661, C. Civ. Proc. 1895; re-en. Sec. 7361, Rev. C. 1907; amd. Sec. 1, Ch. 39, L. 1921; re-en. Sec. 9964, R.C.M. 1921; re-en. Sec. 9964, R.C.M. 1935; amd. Sec. 21, Ch. 240, L. 1971; amd. Sec. 33, Ch. 94, L. 1973; amd. Sec. 59, Ch. 535, L. 1975; Sec. 93-100-2, R.C.M. 1947; R.C.M. 1947, 5-201, 93-100-2(part); amd. Sec. 1, Ch. 179, L. 1985; amd. Sec. 1, Ch. 278, L. 1989; amd. Sec. 14, Ch. 395, L. 1993; amd. Sec. 77, Ch. 382, L. 1997; amd. Sec. 13, Ch. 163, L. 2005; amd. Sec. 228, Ch. 271, L. 2019.

Structure Montana Code Annotated

Montana Code Annotated

Title 32. Financial Institutions

Chapter 1. Banks and Trust Companies

Part 3. Formation and Reorganization

32-1-301. Organization and incorporation -- articles of incorporation

32-1-302. Incorporation

32-1-303. Board to refuse or approve application

32-1-304. Repealed

32-1-305. Repealed

32-1-306. Repealed

32-1-307. Amount of capital

32-1-308. Bylaws

32-1-309. through 32-1-320 reserved

32-1-321. Calling of first meeting -- cancellation of certificate

32-1-322. Board of directors -- qualifications, tenure, and vacancies

32-1-323. Repealed

32-1-324. Repealed

32-1-325. Selection of officers and employees -- minutes of meetings

32-1-326. through 32-1-330 reserved

32-1-331. Repealed

32-1-332. Repealed

32-1-333. Repealed

32-1-334. Repealed

32-1-335. Purchase or loan of own capital stock prohibited -- exception

32-1-336. Repealed

32-1-337. Repealed

32-1-338. Repealed

32-1-339. Right of examination by stockholder

32-1-340. Conversion of surplus and undivided profits to capital stock

32-1-341. through 32-1-350 reserved

32-1-351. Repealed

32-1-352. Repealed

32-1-353. Repealed

32-1-354. Repealed

32-1-355. Repealed

32-1-356. Repealed

32-1-357. through 32-1-360 reserved

32-1-361. Change from state to national bank

32-1-362. National bank powers extended to state banks

32-1-363. Surrender of charter by state bank

32-1-364. Increase or reduction of capital stock

32-1-365. Certificate of change to national bank

32-1-366. through 32-1-369 reserved

32-1-370. Interstate merger of banks -- interstate agreements

32-1-371. Merger of banks

32-1-372. Branch bank

32-1-373. Banks may join federal reserve bank

32-1-374. Conversion of national bank to state bank

32-1-375. Prohibition of acquisition -- exception

32-1-376. Sale of branch bank

32-1-377. Agreement of purchase and sale

32-1-378. Bank acquisition or control -- notice or application -- registration statement -- violations -- penalties

32-1-379. Bank acquisition or control -- disapproval by department -- change of officers

32-1-380. Rulemaking

32-1-381. Repealed

32-1-382. Repealed

32-1-383. Repealed

32-1-384. Federal applications -- comments