32-2-909. Insurance activities -- exemption -- rulemaking. (1) A mutual association may:
(a) except for title insurance, sell insurance of all types, including annuities, credit life insurance, and disability insurance; and
(b) act as an insurance producer, adjuster, consultant, or administrator as defined in Title 33, chapter 17.
(2) A mutual association that engages in insurance activities authorized in subsection (1) is subject to the provisions of Title 33.
(3) A mutual association may, upon application to and approval by the department pursuant to 32-2-824, offer debt cancellation and suspension programs. Debt cancellation or suspension programs offered pursuant to this subsection are not insurance products subject to the provisions of Title 33. The department shall adopt rules to implement this subsection that must be substantially equivalent to or more stringent than federal laws, regulations, and regulatory guidelines that are applicable to debt cancellation or suspension programs offered by federal savings associations.
History: En. Sec. 50, Ch. 431, L. 2021.
Structure Montana Code Annotated
Title 32. Financial Institutions
Chapter 2. Mutual Savings and Loan Associations
Part 9. Operation and Regulation
32-2-901. Mutual association advertising before issuance of charter
32-2-902. Prohibitions on advertising as mutual association -- trade names restricted
32-2-903. Penalty for transacting business without certificate
32-2-904. Mutual associations -- powers and duties
32-2-905. Extent that assets may be pledged
32-2-906. Issuance of capital certificates
32-2-907. No certificate of deposit to be issued for borrowed money
32-2-908. Investments of financial institutions
32-2-909. Insurance activities -- exemption -- rulemaking
32-2-911. Investment in certain securities -- rulemaking
32-2-913. Federal housing securities eligible collateral
32-2-914. Acceptance and issuance of drafts -- rulemaking
32-2-917. Deposit in name of minor
32-2-918. Demand or time deposits
32-2-919. Safe deposit department
32-2-920. Giving security for deposit prohibited -- exceptions
32-2-921. Payments to foreign administrator
32-2-922. Calculation of profits
32-2-923. Past-due and doubtful paper
32-2-924. Reserve requirements
32-2-925. Limitations on loans -- rulemaking
32-2-926. through 32-2-929 reserved
32-2-930. Bonding of employees
32-2-931. Persons previously convicted -- rulemaking
32-2-932. Sale of securities by officer to mutual association
32-2-933. Real estate that mutual associations may purchase, hold, or convey
32-2-934. Purchase of obligation of mutual association by officer
32-2-935. Fraud by director, officer, agent, or employee
32-2-936. Removal of directors, officers, or employees -- hearing
32-2-937. Penalty for unlawful hypothecation of property received
32-2-938. Concealing actions from directors
32-2-939. Theft of funds by directors, officers, or employees
32-2-940. False statement to obtain loan
32-2-941. Mutual association holidays
32-2-942. Transaction on holiday
32-2-943. Closing on Saturdays authorized -- Saturday treated as holiday
32-2-944. Mutual association hours and business days
32-2-945. Interest payable at mutual association on Saturday -- how paid
32-2-946. through 32-2-949 reserved
32-2-950. Destruction of records -- rulemaking
32-2-952. Admissibility of copies in evidence -- exception when original available