32-1-363. Surrender of charter by state bank. (1) Any bank which will become a corporation for carrying on the business of banking under the laws of the United States shall cease to be a corporation under the laws of this state, except that for the term of 3 years thereafter its corporate existence shall be deemed to continue for the purposes of prosecuting and defending suits by and against it and of enabling it to close its concerns and to dispose of and convey its property.
(2) The members of the board of directors last in office, when such corporation shall have become a corporation under the laws of the United States, shall continue to be the board of directors of the corporation, with power to take all necessary measures to carry out and perfect such organization by signing the articles of association and the organization certificate and adopting such regulations as may be just and proper and not inconsistent with the acts of congress in relation thereto.
(3) Such change from a state to a national bank corporation shall not release any such bank from its obligations to pay and discharge all the liabilities created by law or incurred by it before becoming a national bank corporation or any tax imposed by the laws of this state up to the date of its becoming such national bank corporation, in proportion to the time which has elapsed since the next preceding payment thereof.
History: En. Sec. 76, Ch. 89, L. 1927; re-en. Sec. 6014.87, R.C.M. 1935; R.C.M. 1947, 5-1003.
Structure 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
32-1-303. Board to refuse or approve application
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
32-1-325. Selection of officers and employees -- minutes of meetings
32-1-326. through 32-1-330 reserved
32-1-335. Purchase or loan of own capital stock prohibited -- exception
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
32-1-357. 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
32-1-373. Banks may join federal reserve bank
32-1-374. Conversion of national bank to state bank
32-1-375. Prohibition of acquisition -- exception
32-1-377. Agreement of purchase and sale
32-1-379. Bank acquisition or control -- disapproval by department -- change of officers