32-3-1008. Concealing actions from directors. (1) An officer or employee of a credit union who intentionally conceals from the directors or a committee of the directors any of the actions under subsection (2) may be charged with a misdemeanor, and upon being found guilty or pleading guilty is subject for each offense to a term of not more than 12 months in the county jail or a fine by the department of administration of not more than $500, or both.
(2) The following actions intentionally concealed from the directors are violations of this chapter:
(a) providing a discount, an extension of credit, or a loan made on behalf of the credit union; or
(b) purchasing a security, selling any of the credit union's securities, or making any guarantee, repurchase agreement, or other agreement obligating the credit union.
History: En. Sec. 4, Ch. 480, L. 2019.
Structure Montana Code Annotated
Title 32. Financial Institutions
32-3-1001. and 32-3-1002 reserved
32-3-1003. Penalty for false statements or entries to books and records
32-3-1004. Penalty for fraud by director, executive officer, agent, or employee
32-3-1006. and 32-3-1007 reserved
32-3-1008. Concealing actions from directors
32-3-1009. False statement to obtain or extend loan
32-3-1010. through 32-3-1012 reserved
32-3-1013. Removal of directors, officers, employees -- hearing