32-1-565. Effect of closing. (1) A day on which a bank or any of its offices is closed during any part of its normal banking hours under 32-1-562 and 32-1-563 with respect to that bank or, if not all of its offices are closed, then with respect to the office or offices which are closed shall be a legal holiday for all purposes with respect to any banking business. No liability or loss of rights of any kind on the part of a bank, or director, officer, or employee thereof, may accrue or result by virtue of a closing authorized by 32-1-562 and 32-1-563.
(2) The provisions of 32-1-561 through 32-1-565 are in addition to any other law of this state or of the United States authorizing the closing of a bank or excusing the delay by a bank in the performance of its duties and obligations because of emergencies or conditions beyond the bank's control or otherwise.
History: En. Sec. 5, Ch. 32, L. 1971; amd. Sec. 42, Ch. 431, L. 1975; R.C.M. 1947, 5-1062.
Structure Montana Code Annotated
Title 32. Financial Institutions
Chapter 1. Banks and Trust Companies
Part 5. Dissolution, Closing, and Liquidation
32-1-501. Dissolution and disincorporation
32-1-502. Grounds for closing bank
32-1-504. Deposits in insolvent bank
32-1-505. Penalty for receiving deposits when insolvent or for making false statements
32-1-506. Assessment on capital stock to make good impairment
32-1-507. Power of closed banks to borrow money from governmental agencies
32-1-508. Corporate existence -- ceases when
32-1-509. Taxes on banks which have ceased to do business
32-1-510. Penalty for maliciously declaring bank insolvent
32-1-511. Bank may be placed in department's possession
32-1-512. Effect of posting notice
32-1-513. Taking possession of bank -- notice
32-1-514. Resumption after closing
32-1-515. Powers of department on closing bank -- court proceedings
32-1-516. Recourse of aggrieved bank -- injunction
32-1-517. Department may retain bank employees -- liquidating agent's salary and expenses
32-1-518. Compensation of agents and attorneys
32-1-519. through 32-1-530 reserved
32-1-531. Notice to creditors of insolvent bank
32-1-532. Claims -- allowance and rejection
32-1-534. Claims -- order of payment -- priorities
32-1-535. Claims -- partial payments -- assignments
32-1-536. Deposit of funds in department's hands
32-1-537. Disposition of unclaimed funds
32-1-538. Disposition of assets remaining after payment of claims
32-1-539. through 32-1-550 reserved
32-1-551. Liquidating officer's powers and duties
32-1-552. Further duties of liquidating officer
32-1-553. Department to file inventory -- report required -- exception
32-1-554. through 32-1-560 reserved