Montana Code Annotated
Title 32. Financial Institutions
Chapter 2. Mutual Savings and Loan Associations

32-2-607. Notice of violation -- administrative hearing -- penalties -- liability - 32-2-607. Notice of violation -- administrative hearing -- penalties --...

32-2-608. Criminal liabilities - 32-2-608. Criminal liabilities. (1) A person who knowingly and purposefully...

Part 7. Department Responsibility

32-2-701. Examination and supervision by department -- duties -- rulemaking - 32-2-701. Examination and supervision by department -- duties -- rulemaking....

32-2-702. Payments by mutual associations - 32-2-702. Payments by mutual associations. Each mutual association under the...

32-2-703. Examination -- request of directors - 32-2-703. Examination -- request of directors. If requested in writing,...

32-2-704. Department rulemaking - 32-2-704. Department rulemaking. (1) The department may promulgate reasonable rules...

32-2-705. Reliance on order -- limit on liability - 32-2-705. Reliance on order -- limit on liability. (1) A...

32-2-706. Reports to department - 32-2-706. Reports to department. (1) A mutual association shall make...

32-2-707. Special reports to department - 32-2-707. Special reports to department. In addition to the information...

32-2-708. and 32-2-709 reserved - 32-2-708 and 32-2-709 reserved.

32-2-710. Confidentiality -- penalties - 32-2-710. Confidentiality -- penalties. (1) (a) Reports and statement under...

32-2-711. Prohibited practices - 32-2-711. Prohibited practices. (1) It is unlawful for any person...

Part 8. Formation and Reorganization

32-2-801. Formation - 32-2-801. Formation. (1) Five or more individuals who are residents...

32-2-802. Notice of acceptance of application - 32-2-802. Notice of acceptance of application. If the department determines...

32-2-803. Notice of proposed incorporation - 32-2-803. Notice of proposed incorporation. (1) (a) Within 10 days...

32-2-804. Department investigation - 32-2-804. Department investigation. (1) The department may gather all available...

32-2-805. Articles of incorporation - 32-2-805. Articles of incorporation. (1) A mutual association's articles of...

32-2-806. Incorporation - 32-2-806. Incorporation. The proposed articles of incorporation must be presented...

32-2-807. Bylaws - 32-2-807. Bylaws. (1) The bylaws must be in conformity with...

32-2-808. Capital - 32-2-808. Capital. (1) The capital of a mutual association must...

32-2-809. Review of application - 32-2-809. Review of application. (1) The commissioner shall examine all...

32-2-810. Certificate of authority to commence business - 32-2-810. Certificate of authority to commence business. (1) A mutual...

32-2-811. Failure to commence business - 32-2-811. Failure to commence business. (1) Any mutual association that...

32-2-812. through 32-2-815 reserved - 32-2-812 through 32-2-815 reserved.

32-2-816. Conversion from federal mutual savings and loan association -- state mutual savings and loan association - 32-2-816. Conversion from federal mutual savings and loan association --...

32-2-817. Conversion into federal savings and loan association - 32-2-817. Conversion into federal savings and loan association. (1) Any...

32-2-818. Requirements of state mutual association - 32-2-818. Requirements of state mutual association. A mutual association must...

32-2-819. Directors -- meetings -- officers - 32-2-819. Directors -- meetings -- officers. (1) Within 30 days...

32-2-820. Board of directors -- qualifications, tenure, and vacancies - 32-2-820. Board of directors -- qualifications, tenure, and vacancies. (1)...

32-2-821. Selection of officers and employees -- minutes of meetings - 32-2-821. Selection of officers and employees -- minutes of meetings....

32-2-822. Members -- proxies - 32-2-822. Members -- proxies. (1) A depositor of a mutual...

32-2-823. Right of examination by member - 32-2-823. Right of examination by member. A member of a...

32-2-824. Federal savings association powers extended to state mutual associations - 32-2-824. Federal savings association powers extended to state mutual associations....

32-2-825. Surrender of charter by state mutual association - 32-2-825. Surrender of charter by state mutual association. (1) Any...

32-2-826. Membership in federal home loan bank - 32-2-826. Membership in federal home loan bank. (1) A mutual...

32-2-827. Merger of mutual associations - 32-2-827. Merger of mutual associations. (1) (a) Any mutual association...

32-2-828. Branches - 32-2-828. Branches. (1) A mutual association may establish and maintain...

32-2-829. Sale of branch - 32-2-829. Sale of branch. Any mutual association may, with the...

32-2-830. Loan production office -- rulemaking - 32-2-830. Loan production office -- rulemaking. (1) A mutual association...

32-2-831. Agreement of purchase and sale - 32-2-831. Agreement of purchase and sale. (1) The selling and...

Part 9. Operation and Regulation

32-2-901. Mutual association advertising before issuance of charter - 32-2-901. Mutual association advertising before issuance of charter. It is...

32-2-902. Prohibitions on advertising as mutual association -- trade names restricted - 32-2-902. Prohibitions on advertising as mutual association -- trade names...

32-2-903. Penalty for transacting business without certificate - 32-2-903. Penalty for transacting business without certificate. (1) A person,...

32-2-904. Mutual associations -- powers and duties - 32-2-904. Mutual associations -- powers and duties. (1) A mutual...

32-2-905. Extent that assets may be pledged - 32-2-905. Extent that assets may be pledged. No mutual association,...

32-2-906. Issuance of capital certificates - 32-2-906. Issuance of capital certificates. A mutual association may issue...

32-2-907. No certificate of deposit to be issued for borrowed money - 32-2-907. No certificate of deposit to be issued for borrowed...

32-2-908. Investments of financial institutions - 32-2-908. Investments of financial institutions. (1) Notwithstanding other provisions of...

32-2-909. Insurance activities -- exemption -- rulemaking - 32-2-909. Insurance activities -- exemption -- rulemaking. (1) A mutual...

32-2-910. Authority of state mutual associations to make real estate loans -- borrower insurance requirements - 32-2-910. Authority of state mutual associations to make real estate...

32-2-911. Investment in certain securities -- rulemaking - 32-2-911. Investment in certain securities -- rulemaking. (1) A mutual...

32-2-912. Mutual associations authorized to obtain insurance and make loans when approved by federal housing administrator - 32-2-912. Mutual associations authorized to obtain insurance and make loans...

32-2-913. Federal housing securities eligible collateral - 32-2-913. Federal housing securities eligible collateral. If collateral must or...

32-2-914. Acceptance and issuance of drafts -- rulemaking - 32-2-914. Acceptance and issuance of drafts -- rulemaking. (1) A...

32-2-915. Mutual association's responsibility to provide notice when funds become available for withdrawal - 32-2-915. Mutual association's responsibility to provide notice when funds become...

32-2-916. Certified checks - 32-2-916. Certified checks. (1) Whenever a check drawn on a...

32-2-917. Deposit in name of minor - 32-2-917. Deposit in name of minor. Whenever a deposit is...

32-2-918. Demand or time deposits - 32-2-918. Demand or time deposits. Demand deposits, within the meaning...

32-2-919. Safe deposit department - 32-2-919. Safe deposit department. A mutual association may conduct a...

32-2-920. Giving security for deposit prohibited -- exceptions - 32-2-920. Giving security for deposit prohibited -- exceptions. (1) It...

32-2-921. Payments to foreign administrator - 32-2-921. Payments to foreign administrator. A mutual association doing business...

32-2-922. Calculation of profits - 32-2-922. Calculation of profits. Interest or commissions unpaid, although due...

32-2-923. Past-due and doubtful paper - 32-2-923. Past-due and doubtful paper. A savings association carrying any...

32-2-924. Reserve requirements - 32-2-924. Reserve requirements. (1) A mutual association shall maintain at...

32-2-925. Limitations on loans -- rulemaking - 32-2-925. Limitations on loans -- rulemaking. (1) The total loans...

32-2-926. through 32-2-929 reserved - 32-2-926 through 32-2-929 reserved.

32-2-930. Bonding of employees - 32-2-930. Bonding of employees. (1) The board of directors of...

32-2-931. Persons previously convicted -- rulemaking - 32-2-931. Persons previously convicted -- rulemaking. (1) Unless the commissioner...

32-2-932. Sale of securities by officer to mutual association - 32-2-932. Sale of securities by officer to mutual association. (1)...

32-2-933. Real estate that mutual associations may purchase, hold, or convey - 32-2-933. Real estate that mutual associations may purchase, hold, or...

32-2-934. Purchase of obligation of mutual association by officer - 32-2-934. Purchase of obligation of mutual association by officer. A...

32-2-935. Fraud by director, officer, agent, or employee - 32-2-935. Fraud by director, officer, agent, or employee. A director,...

32-2-936. Removal of directors, officers, or employees -- hearing - 32-2-936. Removal of directors, officers, or employees -- hearing. (1)...

32-2-937. Penalty for unlawful hypothecation of property received - 32-2-937. Penalty for unlawful hypothecation of property received. An officer...

32-2-938. Concealing actions from directors - 32-2-938. Concealing actions from directors. An officer or employee of...

32-2-939. Theft of funds by directors, officers, or employees - 32-2-939. Theft of funds by directors, officers, or employees. A...

32-2-940. False statement to obtain loan - 32-2-940. False statement to obtain loan. A person who makes...

32-2-941. Mutual association holidays - 32-2-941. Mutual association holidays. In addition to emergency closings authorized...

32-2-942. Transaction on holiday - 32-2-942. Transaction on holiday. No law of this state may...

32-2-943. Closing on Saturdays authorized -- Saturday treated as holiday - 32-2-943. Closing on Saturdays authorized -- Saturday treated as holiday....

32-2-944. Mutual association hours and business days - 32-2-944. Mutual association hours and business days. A mutual association...

32-2-945. Interest payable at mutual association on Saturday -- how paid - 32-2-945. Interest payable at mutual association on Saturday -- how...

32-2-946. through 32-2-949 reserved - 32-2-946 through 32-2-949 reserved.

32-2-950. Destruction of records -- rulemaking - 32-2-950. Destruction of records -- rulemaking. (1) Mutual associations are...

32-2-951. Definitions -- reproductions of mutual association records -- admissibility in evidence -- cost recovery - 32-2-951. Definitions -- reproductions of mutual association records -- admissibility...

32-2-952. Admissibility of copies in evidence -- exception when original available - 32-2-952. Admissibility of copies in evidence -- exception when original...

32-2-953. Destruction or reproduction - 32-2-953. Destruction or reproduction. Destruction in the regular course of...

32-2-954. Application - 32-2-954. Application. The provisions of 32-2-950 through 32-2-954 are applicable...

Part 10. Dissolution, Closing, and Liquidation

32-2-1001. Dissolution and disincorporation - 32-2-1001. Dissolution and disincorporation. (1) Mutual associations may be dissolved...

32-2-1002. Grounds for closing mutual association - 32-2-1002. Grounds for closing mutual association. (1) If it appears...

32-2-1003. When mutual association insolvent - 32-2-1003. When mutual association insolvent. A mutual association is insolvent...

32-2-1004. Deposits in insolvent mutual associations - 32-2-1004. Deposits in insolvent mutual associations. (1) Except as otherwise...

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...

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

32-2-1007. Corporate existence -- cessation - 32-2-1007. Corporate existence -- cessation. (1) The charters and the...

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

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

32-2-1010. Resumption after closing - 32-2-1010. Resumption after closing. After the department has taken possession...

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

32-2-1012. Recourse of aggrieved mutual association -- injunction - 32-2-1012. Recourse of aggrieved mutual association -- injunction. (1) A...

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

32-2-1014. Compensation of agents and attorneys - 32-2-1014. Compensation of agents and attorneys. (1) Except as provided...

32-2-1015. Notice to creditors of insolvent mutual association - 32-2-1015. Notice to creditors of insolvent mutual association. (1) Except...

32-2-1016. Claims -- allowance and rejection - 32-2-1016. Claims -- allowance and rejection. (1) Except as provided...

32-2-1017. Payment of claims - 32-2-1017. Payment of claims. (1) Claims presented to the department...

32-2-1018. Claims -- order of payment -- priorities - 32-2-1018. Claims -- order of payment -- priorities. (1) Except...

32-2-1019. Claims -- partial payments -- assignments - 32-2-1019. Claims -- partial payments -- assignments. (1) At any...

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

32-2-1021. Disposition of unclaimed funds - 32-2-1021. Disposition of unclaimed funds. (1) The department shall certify...

32-2-1022. Disposition of assets remaining after payment of claims - 32-2-1022. Disposition of assets remaining after payment of claims. (1)...

32-2-1023. Further duties of liquidating officer - 32-2-1023. Further duties of liquidating officer. (1) The liquidating officer...

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

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

32-2-1030. Definitions - 32-2-1030. Definitions. As used in 32-2-1030 through 32-2-1034, unless the...

32-2-1031. Power of department - 32-2-1031. Power of department. When the department feels that an...

32-2-1032. Powers of officers - 32-2-1032. Powers of officers. (1) When the officers of a...

32-2-1033. Notice of mutual association closing - 32-2-1033. Notice of mutual association closing. A mutual association closing...

32-2-1034. Effect of closing - 32-2-1034. Effect of closing. (1) A day on which a...

Part 11. Federal Deposit Insurance Corporation

32-2-1101. Definition of savings institution - 32-2-1101. Definition of savings institution. As used in this part,...

32-2-1102. Savings institutions empowered to receive federal deposit insurance corporation aid - 32-2-1102. Savings institutions empowered to receive federal deposit insurance corporation...

32-2-1103. Appointment of corporation as agent in liquidation - 32-2-1103. Appointment of corporation as agent in liquidation. If a...

32-2-1104. Subrogation of corporation - 32-2-1104. Subrogation of corporation. Whenever any savings institution has been...

32-2-1105. Examinations by corporation - 32-2-1105. Examinations by corporation. (1) The department may accept, in...

32-2-1106. Closed savings institutions empowered to borrow from corporation - 32-2-1106. Closed savings institutions empowered to borrow from corporation. (1)...

Part 12. Removal of Directors or Officers

32-2-1201. Definitions - 32-2-1201. Definitions. As used in this part, the following definitions...

32-2-1202. Notice of charges -- hearing -- cease and desist order -- effective date - 32-2-1202. Notice of charges -- hearing -- cease and desist...

32-2-1203. Informal conferences -- time for application - 32-2-1203. Informal conferences -- time for application. Within 15 days...

32-2-1204. Temporary cease and desist order -- grounds for issuance -- effective date -- injunctive relief - 32-2-1204. Temporary cease and desist order -- grounds for issuance...

32-2-1205. Notice of intention to remove board member or officer -- prohibiting participation -- suspension - 32-2-1205. Notice of intention to remove board member or officer...

32-2-1206. Informal conferences -- time for application - 32-2-1206. Informal conferences -- time for application. Within 15 days...

32-2-1207. Suspension or prohibition effective on service -- stay - 32-2-1207. Suspension or prohibition effective on service -- stay. (1)...

32-2-1208. Felony charges -- suspension or prohibition - 32-2-1208. Felony charges -- suspension or prohibition. (1) (a) If...

32-2-1209. through 32-2-1212 reserved - 32-2-1209 through 32-2-1212 reserved.

32-2-1213. Board of directors -- lack of quorum -- temporary board members - 32-2-1213. Board of directors -- lack of quorum -- temporary...

32-2-1214. Hearings -- decision -- review, modification, termination, or stay of orders - 32-2-1214. Hearings -- decision -- review, modification, termination, or stay...

32-2-1215. Notices and orders -- manner of service -- copies to federal authorities - 32-2-1215. Notices and orders -- manner of service -- copies...

32-2-1216. Enforcement of notices or orders - 32-2-1216. Enforcement of notices or orders. The commissioner may apply...

32-2-1217. Violation of notice or final order -- penalties - 32-2-1217. Violation of notice or final order -- penalties. Any...

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Montana Code Annotated Title 32. Financial Institutions Chapter 2. Mutual Savings and Loan Associations

Montana Code Annotated
Title 32. Financial Institutions
Chapter 2. Mutual Savings and Loan Associations