reglab/housing_qa huggingface dataset:
MT Code § 32-2-831 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 8. Formation and Reorganization|32-2-831. Agreement of purchase and sale

  32-2-831. Agreement of purchase and sale. (1) The selling and purchasing mutual associations shall enter into an agreement that must contain:  (a) all of the terms and conditions of the sale;   (b) proper provision for the assumption, payment, transfer, or retention of all of the liabilities of the selling mutual association as to the branch assets and business sold; and   (c) proper provision for the assumption, payment, transfer, or retention of the purchasing mutual association of all fiduciary obligations of the branch or branch business sold.   (2) The agreement for purchase and sale of a state mutual association must be authorized and approved by the department. The agreement of purchase and sale of a national savings association must be in accordance with the laws applicable to national savings associations.   History: En. Sec. 41, Ch. 431, L. 2021.
MT Code § 32-2-901 (2021)
2021 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

  32-2-901. Mutual association advertising before issuance of charter. It is unlawful for any individual, firm, or corporation to advertise, publish, or otherwise promulgate that it is engaged in the mutual association business without first having obtained authority from the department. Any person who violates this section is subject to the penalties in 32-2-607(5).  History: En. Sec. 42, Ch. 431, L. 2021.
MT Code § 32-2-903 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-903. Penalty for transacting business without certificate

  32-2-903. Penalty for transacting business without certificate. (1) A person, firm, company, partnership, or corporation, domestic or foreign, advertising that the person or entity is receiving or accepting money or savings for deposit, investment, or otherwise and issuing notes or certificates of deposit for them or advertising that the person or entity is transacting the business of a mutual association or making use of an office sign at the place where the business is transacted, having on it an artificial or corporate name or other words indicating that the place or office is the place or office of a mutual association, or that deposits are received there or payments made on check or that interest is paid on deposits or that certificates of deposit, with or without interest, are being issued or that any other form of mutual association business is transacted, and a person, firm, company, partnership, or corporation, domestic or foreign, using or circulating any letterheads, billheads, blank notes, blank receipts, certificates, or circulars or any written or printed or partly written and partly printed paper whatever, having on it an artificial or corporate name or advertising that the business is the business of a mutual association, must have the proper capital set aside for the purpose of transacting that business and must have received form the department, as provided in this chapter, a certificate to do a mutual association business.  (2) A person who violates any provision of this section is subject to the penalties set forth in 32-2-607(5).   (3) Upon action brought by the department, the court may issue an injunction restraining a person, firm, company, partnership, or corporation from further violating any provision of this section and may enter a further order or decree as equality and justice require.   (4) A person, firm, company, partnership, or corporation doing any of the things or transacting any of the business defined in this section shall transact that business according to the provisions of this chapter, and the department may examine the accounts, books, papers, cash, and credits of that person, firm, company, partnership, or corporation, domestic or foreign, in order to ascertain whether that person, firm, company, partnership, or corporation has violated or is violating any provisions of this section.   History: En. Sec. 44, Ch. 431, L. 2021.
MT Code § 32-2-904 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-904. Mutual associations -- powers and duties

  32-2-904. Mutual associations -- powers and duties. (1) A mutual association may:  (a) act as fiscal agent for and receive deposits from the federal government, this state, or any agency or political subdivision of the federal government or this state;   (b) sue and be sued, complain, and defend in any court of law or equity;   (c) have a corporate seal, affixed by imprint, facsimile, or otherwise;   (d) appoint officers and agents as its business requires and allow them suitable compensation;   (e) adopt bylaws not inconsistent with the laws of Montana and the rules adopted under the laws of Montana;   (f) raise capital, which must be unlimited, by accepting payments on savings, demand, or other accounts, as are authorized by statute and rule, and the holders of the accounts or other accounts must, to the extent as may be provided by such rules and regulations, be members of the association and must have the voting rights and other rights as are provided;   (g) issue notes, bonds, debentures or other obligations, or securities, provided by or under any provision of state statute as from time to time is in effect;   (h) provide for redemption of insured accounts;   (i) borrow money without limitation and pledge and otherwise encumber any of its assets to secure its debts;   (j) lend and otherwise invest its funds as authorized by statute and rules;   (k) wind up and dissolve, merge, consolidate, convert, or reorganize;   (l) purchase, hold, and convey real estate and personal property consistent with its objectives, purposes, and powers;   (m) mortgage or lease any real estate and personal property and take the property by gift, devise, or bequest; and   (n) exercise all powers conferred by law.   (2) In addition to the powers listed in subsection (1), the mutual association may have power to do all things reasonably incident to the accomplishment of its express objects and the performance of its express powers.   History: En. Sec. 45, Ch. 431, L. 2021.
MT Code § 32-2-905 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-905. Extent that assets may be pledged

  32-2-905. Extent that assets may be pledged. No mutual association, mutual association employee, or mutual association officer, except as otherwise authorized by law, may pledge or hypothecate as collateral security for money borrowed its assets in a ratio exceeding 1 1/2 times the amount borrowed, except as otherwise authorized in writing by the department.  History: En. Sec. 46, Ch. 431, L. 2021.
MT Code § 32-2-906 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-906. Issuance of capital certificates

  32-2-906. Issuance of capital certificates. A mutual association may issue mutual capital certificates as allowed by federal law.  History: En. Sec. 47, Ch. 431, L. 2021.
MT Code § 32-2-907 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|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 money. A mutual association may not issue its certificate of deposit for the purpose of borrowing money or make partial payments on any certificate of deposit.  History: En. Sec. 48, Ch. 431, L. 2021.
MT Code § 32-2-908 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-908. Investments of financial institutions

  32-2-908. Investments of financial institutions. (1) Notwithstanding other provisions of the law, it is lawful for a mutual association operating under the laws of this state to invest the funds or money in its custody or possession, eligible for investment, in:  (a) debentures issued by the federal housing administrator and in obligations of national mortgage associations; and   (b) United States government obligations, either directly or in the form of securities of or other interests in an open-end or closed-end management type investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. 80a-1 through 80a-64, as amended, if:   (i) the portfolio of the investment company or investment trust is limited to United States government obligations and repurchase agreements fully collateralized by United States government obligations; and   (ii) the investment company or investment trust takes delivery of the collateral for any repurchase agreement, either directly or through an authorized custodian.   (2) The department shall publish a list of the permissible type of investments in United States government obligations as provided in subsection (1).   History: En. Sec. 49, Ch. 431, L. 2021.
MT Code § 32-2-909 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-909. Insurance activities -- exemption -- rulemaking

  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.
MT Code § 32-2-910 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|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 loans -- borrower insurance requirements. (1) A state mutual association has the same authority to make loans on real estate that is given by acts of congress or the federal reserve system to federal savings associations.  (2) A mutual association that is subject to this section may not require a borrower, as a condition of obtaining or maintaining a loan secured by real property, to provide insurance on improvements to real property in an amount that exceeds the reasonable replacement value of the improvements.   History: En. Sec. 51, Ch. 431, L. 2021.
MT Code § 32-2-911 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-911. Investment in certain securities -- rulemaking

  32-2-911. Investment in certain securities -- rulemaking. (1) A mutual association may purchase, sell, underwrite, and hold investment securities that are obligations in the form of bonds, notes, or debentures, as provided in rules adopted by the department. In addition, unless limited by the department by rule, a mutual association may purchase, sell, underwrite, and hold those investment securities that are derivative transactions that federal savings associations are expressly authorized to purchase, sell, underwrite, and hold. A mutual association may hold without limit investment securities that are general obligations of the United States, obligations that are guaranteed fully as to principal and interest by the United States, or general obligations of any state.  (2) The department may adopt rules to implement this section.   History: En. Sec. 52, Ch. 431, L. 2021.
MT Code § 32-2-912 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|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 when approved by federal housing administrator. Notwithstanding any other provisions of the law of this state restricting the amount of any loan in relation to the value of the real estate or restricting the term of any such loan or restricting the rate of such loan, it is lawful for any mutual association that has been approved as a mortgagee by the federal housing administrator to obtain insurance and to make loans secured by real estate as the federal housing administrator insures or makes a commitment to insure.  History: En. Sec. 53, Ch. 431, L. 2021.
MT Code § 32-2-913 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-913. Federal housing securities eligible collateral

  32-2-913. Federal housing securities eligible collateral. If collateral must or may be furnished by any state mutual association as security for the deposit of any funds and the collateral must or may be deposited with any official of the state pursuant to state law, mortgages insured and debentures issued by the federal housing administrator are considered eligible collateral for these purposes.  History: En. Sec. 54, Ch. 431, L. 2021.
MT Code § 32-2-914 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-914. Acceptance and issuance of drafts -- rulemaking

  32-2-914. Acceptance and issuance of drafts -- rulemaking. (1) A mutual association organized and existing under state law may accept for payment at a future date drafts drawn on it by its customers authorizing the holders of the drafts to draw drafts on it or its correspondents at sight or on time of the total amount of drafts accepted for any one person, firm, or corporation that does not at any one time exceed 20% of the capital of the accepting or issuing financial institution.  (2) The department may adopt rules to implement this section.   History: En. Sec. 55, Ch. 431, L. 2021.
MT Code § 32-2-915 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|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 available for withdrawal. (1) A mutual association shall provide clear and conspicuous written notice of the time periods and exceptions to the periods concerning when funds become available for withdrawal as of right on deposit by check or similar instrument in the customer's deposit account. The notice must state the cutoff hour, if any, fixed by the mutual association after which an item is treated as being received at the opening of the next business day.  (2) This notice must be:   (a) provided to a potential customer prior to opening a deposit account; and   (b) posted in a conspicuous manner at each financial institution, automated teller machine location, and other device that accepts deposits.   (3) A deposit slip, envelope, or any other printed form furnished by the mutual association for use in connection with deposits must contain the following notice, printed in a conspicuous manner: "Your deposit may not be available for immediate withdrawal. Consult posted notices for further information."   History: En. Sec. 56, Ch. 431, L. 2021.
MT Code § 32-2-916 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-916. Certified checks

  32-2-916. Certified checks. (1) Whenever a check drawn on a mutual association is certified by any officer or employee of the mutual association, the amount of the check must be immediately charged against the account of the person, firm, or corporation drawing the check.  (2) It is unlawful for an officer or employee of a mutual association to certify a check drawn on the mutual association, unless at the time the check is certified the person, firm, or corporation drawing the check has on deposit with the mutual association an amount of money subject to the payment of the check equal to the amount specified in the check.   (3) An officer or employee who willfully violates the provisions of this section, reports to any device, or receives any fictitious obligation, directly or indirectly, in order to evade the provisions of this section is subject to the penalties set forth in 32-2-607(5).   History: En. Sec. 57, Ch. 431, L. 2021.
MT Code § 32-2-917 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-917. Deposit in name of minor

  32-2-917. Deposit in name of minor. Whenever a deposit is made in a mutual association by or in the name of a minor, the deposit must be held for the exclusive right and benefit of the minor and free from the control or lien of all other persons, except creditors, and must be paid, with any interest due, to the person in whose name the deposit was made. The receipt of the minor is a sufficient release or discharge for the deposit to the mutual association.  History: En. Sec. 58, Ch. 431, L. 2021.
MT Code § 32-2-918 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-918. Demand or time deposits

  32-2-918. Demand or time deposits. Demand deposits, within the meaning of this chapter, comprise all deposits payable within 7 days and all savings accounts and certificates of deposit that are subject to not less than 7 days' notice before payment.  History: En. Sec. 59, Ch. 431, L. 2021.
MT Code § 32-2-919 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-919. Safe deposit department

  32-2-919. Safe deposit department. A mutual association may conduct a safe deposit department. The liability of any mutual association for the safekeeping and protection of the contents of safety deposit boxes is determined by the contract endorsed on the receipt delivered to the renter of a box at the time of the rental. However, the obligation of the mutual association is limited to the exercise of ordinary diligence and care to protect the contents of the box from loss or damage by fire, theft, or other causes.  History: En. Sec. 60, Ch. 431, L. 2021.
MT Code § 32-2-920 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-920. Giving security for deposit prohibited -- exceptions

  32-2-920. Giving security for deposit prohibited -- exceptions. (1) It is unlawful for a mutual association to pledge, mortgage, or hypothecate to a depositor any of its real or personal property as security for a deposit, and any pledge, mortgage, or hypothecation made in violation of this section is unenforceable.  (2) This section does not apply to deposits of the money of the United States, public funds deposited in accordance with the provision of a depository act of this state or the United States, or bankruptcy estate funds or deposits, including deposits of receivers or trustees in bankruptcy, deposited under the discretion and supervision of a court of record of Montana or of the United States.   History: En. Sec. 61, Ch. 431, L. 2021.
MT Code § 32-2-921 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-921. Payments to foreign administrator

  32-2-921. Payments to foreign administrator. A mutual association doing business in this state may pay any money remaining to the credit of a deceased depositor or deliver any personal property in its possession belonging to the deceased depositor to an administrator or executor of the depositor duly appointed and qualified in another state, provided that no demand has been previously made by an administrator or executor appointed in any county of this state and the payment discharges the mutual association to make the same from its liability on account of the deposit.  History: En. Sec. 62, Ch. 431, L. 2021.
MT Code § 32-2-922 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-922. Calculation of profits

  32-2-922. Calculation of profits. Interest or commissions unpaid, although due or accrued, on debts owing to any mutual association may not be included in calculation of its profits, unless the mutual association keeps its books on a complete accrual basis. A mutual association that keeps it books on a complete accrual basis shall show on its books accrued interest receivable on notes, bonds, and other investments, unless the accrued interest is past due, and shall carry on its books accrued interest, taxes, and expenses payable.  History: En. Sec. 63, Ch. 431, L. 2021.
MT Code § 32-2-923 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-923. Past-due and doubtful paper

  32-2-923. Past-due and doubtful paper. A savings association carrying any bad debt or a debt of doubtful value as an asset shall, upon the request or demand of the department, collect the debt, put in in good bankable condition, or charge it out of its books.  History: En. Sec. 64, Ch. 431, L. 2021.
MT Code § 32-2-924 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-924. Reserve requirements

  32-2-924. Reserve requirements. (1) A mutual association shall maintain at all times a reserve of that percentage of its deposit liabilities as required by the appropriate federal regulator.  (2) The department may establish reserve requirements if the federal regulator discontinues reserve requirements.   (3) A mutual association whose reserve drops below the legal requirements shall report the matter to the department immediately and as often as the department asks for a report.   (4) When the reserve of a mutual association falls below the legal requirements, the mutual association may not increase its loans or discounts except by discounting or purchasing bill of exchange payable at sight or on demand, and the department shall notify a mutual association whose reserve is below the amount required to make good the reserve.   (5) In arriving at deposit liabilities with regard to mutual association deposits, the net balance of amounts due to and from other financial institutions must be used as the basis for ascertaining the deposit liability to mutual associations against which reserves are carried.   History: En. Sec. 65, Ch. 431, L. 2021.