Montana Code Annotated
Title 32. Financial Institutions
Chapter 3. Credit Unions

32-3-205. Cease and desist orders -- suspension -- involuntary liquidation - 32-3-205. Cease and desist orders -- suspension -- involuntary liquidation....

32-3-206. Authorized activities of credit unions - 32-3-206. Authorized activities of credit unions. Upon written application to...

32-3-207. Confidentiality -- penalties - 32-3-207. Confidentiality -- penalties. (1) (a) Any report of examination...

32-3-208. through 32-3-210 reserved - 32-3-208 through 32-3-210 reserved.

32-3-211. Conservatorship - 32-3-211. Conservatorship. (1) In conjunction with a suspension order or...

32-3-212. Involuntary merger - 32-3-212. Involuntary merger. The department of administration may initiate the...

32-3-213. and 32-3-214 reserved - 32-3-213 and 32-3-214 reserved.

32-3-215. Out-of-state credit unions - 32-3-215. Out-of-state credit unions. (1) A credit union chartered under...

32-3-216. Conducting business outside this state - 32-3-216. Conducting business outside this state. (1) A credit union...

Part 3. Organization, Membership, and Dissolution

32-3-301. Organization procedure - 32-3-301. Organization procedure. (1) Any seven or more residents of...

32-3-302. Form of articles and bylaws - 32-3-302. Form of articles and bylaws. In order to simplify...

32-3-303. Amendments - 32-3-303. Amendments. (1) The articles of incorporation or the bylaws...

32-3-304. Membership defined - 32-3-304. Membership defined. (1) The membership of a credit union...

32-3-305. Societies -- associations - 32-3-305. Societies -- associations. (1) Societies and partnerships composed primarily...

32-3-306. Other credit unions - 32-3-306. Other credit unions. Any credit union organized under this...

32-3-307. Limited-income persons - 32-3-307. Limited-income persons. Existing credit unions may include within their...

32-3-308. Members who leave field - 32-3-308. Members who leave field. Members who leave the field...

32-3-309. Liability of members - 32-3-309. Liability of members. The members of the credit union...

32-3-310. Meetings of members - 32-3-310. Meetings of members. (1) The annual meeting and any...

32-3-311. through 32-3-320 reserved - 32-3-311 through 32-3-320 reserved.

32-3-321. Liquidation - 32-3-321. Liquidation. (1) A credit union may elect to dissolve...

32-3-322. Merger - 32-3-322. Merger. (1) Any credit union may, with the approval...

32-3-323. Conversion of charter - 32-3-323. Conversion of charter. (1) A credit union chartered under...

Part 4. Operation and Officers

32-3-401. General powers - 32-3-401. General powers. A credit union may: (1) make contracts...

32-3-402. Incidental powers - 32-3-402. Incidental powers. A credit union may exercise such incidental...

32-3-403. Election or appointment of officials - 32-3-403. Election or appointment of officials. (1) The credit union...

32-3-404. Record of board and committee members - 32-3-404. Record of board and committee members. Within 30 days...

32-3-405. Vacancies - 32-3-405. Vacancies. (1) The board of directors shall fill any...

32-3-406. Compensation of officials - 32-3-406. Compensation of officials. (1) An official of the credit...

32-3-407. Conflicts of interest - 32-3-407. Conflicts of interest. A director, committee member, officer, agent,...

32-3-408. Executive officers - 32-3-408. Executive officers. (1) At their next meeting following each...

32-3-409. Authority of directors - 32-3-409. Authority of directors. The board of directors shall have...

32-3-410. Executive committee - 32-3-410. Executive committee. From the persons elected to the board,...

32-3-411. Meetings of board of directors and committees - 32-3-411. Meetings of board of directors and committees. (1) Either...

32-3-412. Repealed - 32-3-412. Repealed. Sec. 2, Ch. 117, L. 2015. History: En....

32-3-413. Repealed - 32-3-413. Repealed. Sec. 14, Ch. 317, L. 2015. History: En....

32-3-414. Repealed - 32-3-414. Repealed. Sec. 14, Ch. 317, L. 2015. History: En....

32-3-415. Repealed - 32-3-415. Repealed. Sec. 14, Ch. 317, L. 2015. History: En....

32-3-416. Credit committee or credit manager duties - 32-3-416. Credit committee or credit manager duties. (1) A credit...

32-3-417. Audits - 32-3-417. Audits. (1) The board of directors or supervisory committee...

32-3-418. Suspension and removal of officials - 32-3-418. Suspension and removal of officials. (1) The supervisory committee...

32-3-419. Calling of special meeting - 32-3-419. Calling of special meeting. The supervisory committee by a...

32-3-420. and 32-3-421 reserved - 32-3-420 and 32-3-421 reserved.

32-3-422. Duties of directors -- rulemaking - 32-3-422. Duties of directors -- rulemaking. (1) General duties of...

Part 5. Shares and Accounts

32-3-501. Shares - 32-3-501. Shares. (1) The capital of a credit union consists...

32-3-502. Dividends - 32-3-502. Dividends. At the intervals and for the periods that...

32-3-503. Thrift accounts - 32-3-503. Thrift accounts. Christmas clubs, vacation clubs, and other thrift...

32-3-504. Minors' accounts - 32-3-504. Minors' accounts. Shares may be issued to a minor...

32-3-505. Joint accounts - 32-3-505. Joint accounts. (1) A member may designate any person...

32-3-506. Shares in trust - 32-3-506. Shares in trust. (1) Shares may be issued in...

32-3-507. Liens - 32-3-507. Liens. The credit union has a lien on the...

32-3-508. Dormant accounts - 32-3-508. Dormant accounts. When administering member accounts that are dormant,...

32-3-509. Reduction in shares - 32-3-509. Reduction in shares. (1) Whenever the losses of any...

32-3-510. Withdrawals - 32-3-510. Withdrawals. Shares may be withdrawn for payment to the...

Part 6. Loans and Insurance

32-3-601. Repealed - 32-3-601. Repealed. Sec. 14, Ch. 317, L. 2015. History: En....

32-3-602. Loan application - 32-3-602. Loan application. Every application for a loan must be...

32-3-603. Loan limit - 32-3-603. Loan limit. No loan shall be made to any...

32-3-604. Security -- real property loans - 32-3-604. Security -- real property loans. (1) In addition to...

32-3-605. Installments - 32-3-605. Installments. A member may receive a loan in installments...

32-3-606. Line of credit - 32-3-606. Line of credit. Upon their own motion or upon...

32-3-607. Other loan programs - 32-3-607. Other loan programs. (1) A credit union may participate...

32-3-608. Loans to officials - 32-3-608. Loans to officials. (1) (a) Except as provided in...

32-3-609. Insurance for members -- debt cancellation and suspension programs - 32-3-609. Insurance for members -- debt cancellation and suspension programs....

32-3-610. Liability insurance for officers - 32-3-610. Liability insurance for officers. A credit union may purchase...

32-3-611. Share insurance - 32-3-611. Share insurance. (1) Each credit union shall maintain insurance...

Part 7. Investments and Reserves

32-3-701. Investment of funds -- rulemaking - 32-3-701. Investment of funds -- rulemaking. (1) Funds not used...

32-3-702. Maintenance of regular reserve account - 32-3-702. Maintenance of regular reserve account. The department of administration...

32-3-703. Use of regular reserve account - 32-3-703. Use of regular reserve account. The regular reserve account...

32-3-704. Repealed - 32-3-704. Repealed. Sec. 3, Ch. 64, L. 2003; sec. 40,...

32-3-705. Special reserves - 32-3-705. Special reserves. In addition to the regular reserve account,...

Part 8. Corporate Credit Unions

32-3-801. Organization - 32-3-801. Organization. A corporate credit union may be organized and...

32-3-802. Purpose -- membership - 32-3-802. Purpose -- membership. (1) A corporate credit union must...

32-3-803. Voting representative -- conflict of interest - 32-3-803. Voting representative -- conflict of interest. (1) Each credit...

32-3-804. Additional rights and powers -- department rules - 32-3-804. Additional rights and powers -- department rules. (1) Except...

32-3-805. Membership capital accounts - 32-3-805. Membership capital accounts. (1) A corporate credit union may...

32-3-806. Fixed assets -- department rules - 32-3-806. Fixed assets -- department rules. (1) A corporate credit...

32-3-807. Corporate reserves -- department rules - 32-3-807. Corporate reserves -- department rules. (1) A corporate credit...

32-3-808. Annual audit - 32-3-808. Annual audit. (1) The supervisory committee of a corporate...

32-3-809. Contracts and written agreements - 32-3-809. Contracts and written agreements. Services, facilities, personnel, or equipment...

32-3-810. Paid-in capital defined -- authorized - 32-3-810. Paid-in capital defined -- authorized. (1) "Paid-in capital" means...

Part 9. Taxation

32-3-901. Taxation - 32-3-901. Taxation. All credit unions organized under this or any...

32-3-902. Stock transfer taxes - 32-3-902. Stock transfer taxes. The shares of any credit union...

32-3-903. Effect of participation in government programs - 32-3-903. Effect of participation in government programs. The participation by...

Part 10. Penalties

32-3-1001. and 32-3-1002 reserved - 32-3-1001 and 32-3-1002 reserved.

32-3-1003. Penalty for false statements or entries to books and records - 32-3-1003. Penalty for false statements or entries to books and...

32-3-1004. Penalty for fraud by director, executive officer, agent, or employee - 32-3-1004. Penalty for fraud by director, executive officer, agent, or...

32-3-1005. Theft of funds - 32-3-1005. Theft of funds. (1) The following conditions are considered...

32-3-1006. and 32-3-1007 reserved - 32-3-1006 and 32-3-1007 reserved.

32-3-1008. Concealing actions from directors - 32-3-1008. Concealing actions from directors. (1) An officer or employee...

32-3-1009. False statement to obtain or extend loan - 32-3-1009. False statement to obtain or extend loan. An individual...

32-3-1010. through 32-3-1012 reserved - 32-3-1010 through 32-3-1012 reserved.

32-3-1013. Removal of directors, officers, employees -- hearing - 32-3-1013. Removal of directors, officers, employees -- hearing. (1) A...

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Montana Code Annotated Title 32. Financial Institutions Chapter 3. Credit Unions

Montana Code Annotated
Title 32. Financial Institutions
Chapter 3. Credit Unions