Montana Code Annotated
Part 10. Dissolution, Closing, and Liquidation
32-2-1021. Disposition of unclaimed funds

32-2-1021. Disposition of unclaimed funds. (1) The department shall certify to the state treasurer a complete list of funds remaining with the department that are uncalled for and that have been left with it in its official capacity in trust for depositors in and creditors of a liquidated mutual association after the funds have been held by the department for 6 months from the date of the final liquidation of the institution. Along with this certificate, the department shall transmit to the state treasurer the funds, with accumulated interest on them, that it has held in trust for 6 months. A copy of the certificate must also be filed with the state auditor, who shall make a record of it.
(2) The state treasurer shall deposit the funds and interest in the general fund.
(3) A depositor or creditor of a liquidated mutual association who has not been paid the amount standing to the person's credit as certified to the state treasurer may apply to the department for the amount due. The depositor or creditor shall make an affidavit and offer proof of identity and of the amount due. When satisfied as to the correctness of the claim and of the identity of the person, the department shall forward it to the state treasurer, who shall audit the claim and, if the claim is found to be correct, certify the claim to the department. If the department approves the claim, it shall pay the claim to the depositor or creditor.
History: En. Sec. 108, 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