Montana Code Annotated
Part 10. Dissolution, Closing, and Liquidation
32-2-1005. Penalty for receiving deposits when insolvent or for making false statement

32-2-1005. Penalty for receiving deposits when insolvent or for making false statement. (1) Any officer, agent, or clerk of a mutual association, knowing the mutual association to be insolvent, who receives money, bank bills, notes of the United States, or currency or other bills or drafts circulating as money or currency, except in the manner set forth in 32-2-1004, who subscribes or makes any false statements or entries in the books of the mutual association, who knowingly subscribes or exhibits any false paper with the intent to deceive any person authorized to examine as to the condition of the mutual association, or who willfully subscribes or makes false reports is subject to the penalties set forth in 32-2-607(5).
(2) Any person or the members of any partnership or mutual association who willfully or knowingly receive deposits, money, or commercial papers circulating as money, when the person, partnership, or mutual association is insolvent, or who subscribe or make any false statement or entries in the books of any such mutual association, who knowingly subscribe or exhibit any false papers with the intention of deceiving any person authorized to examine the condition of any mutual association provided for in this chapter, or who willfully subscribe or make false reports to the department are subject to the penalties set forth in 32-2-607(5).
History: En. Sec. 92, Ch. 431, L. 2021.

Structure Montana Code Annotated

Montana Code Annotated

Title 32. Financial Institutions

Chapter 2. Mutual Savings and Loan Associations

Part 10. Dissolution, Closing, and Liquidation

32-2-1001. Dissolution and disincorporation

32-2-1002. Grounds for closing mutual association

32-2-1003. When mutual association insolvent

32-2-1004. Deposits in insolvent mutual associations

32-2-1005. Penalty for receiving deposits when insolvent or for making false statement

32-2-1006. Power of closed mutual associations to borrow money from governmental agencies

32-2-1007. Corporate existence -- cessation

32-2-1008. Taxes on mutual associations that have ceased to do business

32-2-1009. Penalty for maliciously declaring mutual association insolvent

32-2-1010. Resumption after closing

32-2-1011. Powers of department on closing mutual association -- court proceedings

32-2-1012. Recourse of aggrieved mutual association -- injunction

32-2-1013. Department may retain mutual association employees -- liquidating agent's salary and expenses

32-2-1014. Compensation of agents and attorneys

32-2-1015. Notice to creditors of insolvent mutual association

32-2-1016. Claims -- allowance and rejection

32-2-1017. Payment of claims

32-2-1018. Claims -- order of payment -- priorities

32-2-1019. Claims -- partial payments -- assignments

32-2-1020. Deposit of funds in department's hands

32-2-1021. Disposition of unclaimed funds

32-2-1022. Disposition of assets remaining after payment of claims

32-2-1023. Further duties of liquidating officer

32-2-1024. Department to file inventory -- report required -- exception

32-2-1025. through 32-2-1029 reserved

32-2-1030. Definitions

32-2-1031. Power of department

32-2-1032. Powers of officers

32-2-1033. Notice of mutual association closing

32-2-1034. Effect of closing