Montana Code Annotated
Part 10. Dissolution, Closing, and Liquidation
32-2-1031. Power of department

32-2-1031. Power of department. When the department feels that an emergency exists or is impending in this state or in any part of this state, it may, by proclamation, authorize mutual associations located in the affected area to close any of their offices. In addition, if the department is of the opinion that an emergency exists or is impending that affects or may affect a particular mutual association or mutual associations, or a particular office or offices of a particular mutual association, but not mutual associations located in the area generally, it may authorize the particular mutual association or mutual associations or office or offices so affected to close. The closed office or offices must remain closed until the department proclaims that the emergency has ended or until an earlier time that the officers of the mutual association determine that one or more of the closed offices should reopen and, in either event, for the amount of time afterward as may reasonably be required for them to reopen.
History: En. Sec. 113, 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