reglab/housing_qa huggingface dataset:
MT Code § 32-1-445 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-445. Demand or time deposits

  32-1-445. Demand or time deposits. Demand deposits, within the meaning of this chapter, shall comprise all deposits payable within 7 days, and time deposits shall comprise all deposits payable after 7 days and all savings accounts and certificates of deposit which are subject to not less than 7 days' notice before payment.   History: En. Sec. 52, Ch. 89, L. 1927; re-en. Sec. 6014.56, R.C.M. 1935; R.C.M. 1947, 5-531; amd. Sec. 1, Ch. 75, L. 1985.
MT Code § 32-1-446 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-446. Safe deposit department

  32-1-446. Safe deposit department. A bank may conduct a safe deposit department. The liability of any bank 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 bank 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. 35, Ch. 89, L. 1927; re-en. Sec. 6014.39, R.C.M. 1935; R.C.M. 1947, 5-514; amd. Sec. 30, Ch. 395, L. 1993; amd. Sec. 78, Ch. 382, L. 1997; amd. Sec. 14, Ch. 163, L. 2005.
MT Code § 32-1-447 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-447. Giving security for deposit prohibited -- exceptions

  32-1-447. Giving security for deposit prohibited -- exceptions. It is unlawful for any bank to pledge, mortgage, or hypothecate to any depositor any of its real or personal property as security for any deposit, and any pledge, mortgage, or hypothecation made in violation thereof is unenforceable. This provision does not apply to any deposits of money of the United States, public funds deposited in accordance with the provisions of any 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 direction and supervision of a court of record of the state of Montana or of the United States.   History: En. Sec. 112, Ch. 89, L. 1927; re-en. Sec. 6014.123, R.C.M. 1935; amd. Sec. 1, Ch. 33, L. 1941; amd. Sec. 22, Ch. 71, L. 1977; R.C.M. 1947, 5-1039.
MT Code § 32-1-448 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-448. Payments to foreign administrator

  32-1-448. Payments to foreign administrator. Any bank 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 such deceased depositor to an administrator or executor of such depositor duly appointed and qualified in another state, provided no demand therefor shall have been previously made by an administrator or executor appointed in any county of this state, and such payment shall discharge the bank making the same from its liability on account of such deposit.   History: En. Sec. 104, Ch. 89, L. 1927; re-en. Sec. 6014.115, R.C.M. 1935; R.C.M. 1947, 5-1031.
MT Code § 32-1-449 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-449. and 32-1-450 reserved

  32-1-449 and 32-1-450 reserved.
MT Code § 32-1-451 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-451. Statement of capital, resources, and liabilities

  32-1-451. Statement of capital, resources, and liabilities. A bank or officer of a bank may not advertise in any manner or publish any statement of the capital authorized or subscribed unless the bank or officer advertises and publishes in connection with the advertisement the amount of capital actually paid up. A bank may not publish a statement of its resources or liabilities in connection with those of any other bank unless the statement shows the resources and liabilities of each bank separately.   History: En. Sec. 32, Ch. 89, L. 1927; re-en. Sec. 6014.36, R.C.M. 1935; R.C.M. 1947, 5-511; amd. Sec. 1011, Ch. 56, L. 2009.
MT Code § 32-1-452 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-452. Dividends, surplus, losses, and bad debts

  32-1-452. Dividends, surplus, losses, and bad debts. (1) The directors of a bank may, at certain times and in the manner as the bank's bylaws prescribe, declare and pay dividends to the stockholders of so much of the net undivided profits of the bank as may be appropriated for that purpose, but every bank shall, before declaring any dividend, carry at least 25% of the bank's net earnings for the period covered by the dividend to the bank's surplus, until the surplus is 50% of the bank's paid-up capital stock. The whole or any part of the surplus may at any time be converted into paid-in capital, but the surplus must be restored as provided in this subsection until the surplus amounts to 50% of the aggregate paid-up capital stock. A larger surplus may be created.   (2) A bank must receive prior approval from the department to pay a dividend if:   (a) the bank is rated lower than a 1 or a 2 using the uniform financial institutions rating system adopted by the federal financial institutions examination council; or   (b) the dividend would reduce the tier 1 leverage ratio below 8%.   (3) The department may require a bank to suspend the payment of any or all dividends until all requirements imposed in writing on the bank by the department have been met.   (4) Losses sustained by a bank in excess of the bank's undivided profits may be charged to and paid from the surplus, but the surplus must be restored in the manner provided in subsection (1) in the amount required by this chapter.   History: En. Sec. 34, Ch. 89, L. 1927; re-en. Sec. 6014.38, R.C.M. 1935; R.C.M. 1947, 5-513; amd. Sec. 31, Ch. 395, L. 1993; amd. Sec. 23, Ch. 75, L. 2019.
MT Code § 32-1-453 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-453. Calculation of profits

  32-1-453. Calculation of profits. Interest or commissions unpaid, although due or accrued, on debts owing to any bank may not be included in calculation of its profits, unless the bank keeps its books on a complete accrual basis in which event the bank shall show on its books accrued interest receivable on notes, bonds, and other investments, unless the same is past due, and shall also carry on its books accrued interest, taxes, and expenses payable.   History: En. Sec. 46, Ch. 89, L. 1927; amd. Sec. 1, Ch. 64, L. 1931; re-en. Sec. 6014.50, R.C.M. 1935; R.C.M. 1947, 5-525; amd. Sec. 138, Ch. 42, L. 1997.
MT Code § 32-1-454 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-454. Past-due and doubtful paper

  32-1-454. Past-due and doubtful paper. Every bank carrying any bad debt or a debt of doubtful value as an asset shall upon the request or demand of the department collect the same or put it in good bankable condition or charge it out of its books.   History: En. Sec. 102, Ch. 89, L. 1927; re-en. Sec. 6014.113, R.C.M. 1935; amd. Sec. 170, Ch. 431, L. 1975; R.C.M. 1947, 5-1029.
MT Code § 32-1-455 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-455. Reserve requirements

  32-1-455. Reserve requirements. (1) A bank, except a reserve bank, 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 bank approved by the department as a reserve bank shall maintain at all times a reserve as the department requires by rule.   (4) A solvent bank of good repute having a full paid-up capital and surplus as the department requires by rule and doing business in this state or any other state may be designated by the department as a reserve agent for Montana banking institutions. The approval or designation may be withdrawn or withheld at any time by the department for cause.   (5) A bank 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.   (6) When the reserve of a bank falls below the legal requirements, the bank may not increase its loans or discounts except by discounting or purchasing bills of exchange payable at sight or on demand, and the department shall notify a bank whose reserve may be below the amount required to make good the reserve.   (7) In arriving at deposit liabilities with regard to bank deposits, the net balance of amounts due to and from other banks must be used as the basis for ascertaining the deposit liability to banks against which reserves are carried.   (8) Compliance by member banks with the federal reserve banking laws, rules, and regulations is compliance with the reserve requirements and conditions of this chapter and entitles those federal reserve member banks to the rights and privileges accruing from compliance with this chapter.   History: (1) thru (4), (6) thru (8)En. Sec. 53, Ch. 89, L. 1927; re-en. Sec. 6014.57, R.C.M. 1935; amd. Sec. 1, Ch. 6, L. 1967; amd. Sec. 18, Ch. 431, L. 1975; Sec. 5-532, R.C.M. 1947; (5)En. Sec. 103, Ch. 89, L. 1927; re-en. Sec. 6014.114, R.C.M. 1935; amd. Sec. 170, Ch. 431, L. 1975; Sec. 5-1030, R.C.M. 1947; R.C.M. 1947, 5-532, 5-1030; amd. Sec. 32, Ch. 395, L. 1993.
MT Code § 32-1-456 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-456. through 32-1-460 reserved

  32-1-456 through 32-1-460 reserved.
MT Code § 32-1-461 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-461. Bonding of employees

  32-1-461. Bonding of employees. (1) The board of directors of a bank shall require bonding for all officers and employees of the bank whose duty includes the handling of money, notes, bonds, credits, and cash items and whose duties include bookkeeping or the making of entries in relation to the business of the bank and its customers.   (2) The board of directors shall by order entered upon the minute books of the board designate the officers and employees to be bonded and the amount of bonds to be given. Action as to the personnel, the amount of bonds, and the surety company or sureties is subject to approval by the department, and the bonds must be in a form provided or approved by the department.   (3) The bonds must be approved by the president of the bank, and the president's or executive officer's action must be reported to the board of directors.   (4) All bonds required by this section must be kept in the custody of the bank subject to inspection by examiners from the department. However, as far as possible, they may not be placed in the custody of the officer or employee for whom the bond is given.   History: En. Sec. 105, Ch. 89, L. 1927; amd. Sec. 3, Ch. 145, L. 1931; re-en. Sec. 6014.116, R.C.M. 1935; amd. Sec. 170, Ch. 431, L. 1975; amd. Sec. 21, Ch. 71, L. 1977; R.C.M. 1947, 5-1032; amd. Sec. 79, Ch. 382, L. 1997; amd. Sec. 15, Ch. 163, L. 2005.
MT Code § 32-1-462 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-462. Persons previously convicted under banking laws -- bank employment

  32-1-462. Persons previously convicted under banking laws -- bank employment. It is unlawful for a person who has been convicted of a violation of the banking laws of any state or nation to accept employment in a bank in this state without first stating the relevant facts to the directors of the bank. A person who has been convicted of a banking law violation may not be employed in a bank without the approval of the department, granted in writing after a full consideration of the facts.   History: En. Sec. 120, Ch. 89, L. 1927; re-en. Sec. 6014.130, R.C.M. 1935; amd. Sec. 170, Ch. 431, L. 1975; R.C.M. 1947, 5-1046; amd. Sec. 80, Ch. 382, L. 1997; amd. Sec. 16, Ch. 163, L. 2005.
MT Code § 32-1-463 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-463. Sale of securities by officer to bank

  32-1-463. Sale of securities by officer to bank. (1) A director, officer, employee, or controlling stockholder of any bank may not, directly or indirectly, for the person's account, for the person, or as the partner or agent of others sell or transfer or cause to be sold or transferred to the bank of which the person is a director, officer, employee, or controlling stockholder any note or bond secured by any mortgage or trust deed on real estate or any contract arising from the sale of real estate, in which the director, officer, employee, or controlling stockholder is personally or financially interested, without a vote of the majority of the board of the bank, duly noted upon the minutes of the meeting at which the transaction is decided upon. The minutes must be signed by a majority of the board.   (2) Any director, officer, employee, or controlling stockholder of any bank who knowingly violates or consents to the violation of this provision is guilty of a felony.   History: En. Sec. 37, Ch. 89, L. 1927; re-en. Sec. 6014.41, R.C.M. 1935; R.C.M. 1947, 5-516; amd. Sec. 1012, Ch. 56, L. 2009.
MT Code § 32-1-464 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-464. Fraud by director, officer, agent, or employee

  32-1-464. Fraud by director, officer, agent, or employee. A director, executive officer, agent, or employee of a bank is guilty of a felony if that person:   (1) knowingly receives or takes possession of any bank property, except in payment for a just demand, and with intent to defraud:   (a) fails to make or to cause or direct to be made a full and true entry of the receipt or possession in its books and account; or   (b) concurs in failing to make any material entry in its books and account;   (2) knowingly concurs in making or publishing any written report, exhibit, or statement of its affairs or pecuniary condition containing any material statement that is false; or   (3) having the custody or control of its books, willfully refuses or neglects to make a proper entry in the books of that bank as required by law, to exhibit them, or allow them to be inspected and extracts to be taken from them by the department.   History: En. Sec. 40, Ch. 89, L. 1927; re-en. Sec. 6014.44, R.C.M. 1935; amd. Sec. 16, Ch. 431, L. 1975; amd. Sec. 8, Ch. 71, L. 1977; R.C.M. 1947, 5-519; amd. Sec. 2, Ch. 36, L. 1979; amd. Sec. 81, Ch. 382, L. 1997; amd. Sec. 17, Ch. 163, L. 2005.
MT Code § 32-1-465 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-465. Limit on loans to officer, director, or principal shareholder

  32-1-465. Limit on loans to officer, director, or principal shareholder. (1) Except as provided in subsection (2), a bank may not extend credit to an officer, director, or principal shareholder unless the extension of credit is in an amount that, when aggregated with the amount of all outstanding extensions of credit by that bank to all officers, directors, or principal shareholders, does not exceed the bank's unimpaired capital and unimpaired surplus.   (2) A bank with deposits of less than $100 million may by resolution of its board of directors increase the general limit in subsection (1) to a limit that does not exceed two times the bank's unimpaired capital and unimpaired surplus if:   (a) the board of directors determines that a higher limit is consistent with prudent, safe, and sound banking practices in light of the bank's experience in lending to officers, directors, and principal shareholders and is necessary to attract or retain directors or to prevent restricting the availability of credit in small communities;   (b) the resolution sets forth the facts and reasoning on which the board of directors bases the finding, including the amount of the bank's lending to officers, directors, and principal shareholders as a percentage of the bank's unimpaired capital and unimpaired surplus as of the date of the resolution;   (c) the bank has submitted the resolution to the department; and   (d) the bank meets or exceeds, on a fully phased-in basis, all applicable capital requirements established by the department.   History: En. Sec. 41, Ch. 89, L. 1927; re-en. Sec. 6014.45, R.C.M. 1935; R.C.M. 1947, 5-520; amd. Sec. 3, Ch. 36, L. 1979; amd. Sec. 33, Ch. 395, L. 1993; amd. Sec. 11, Ch. 265, L. 1995.
MT Code § 32-1-466 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-466. Purchase of obligation of bank by officer

  32-1-466. Purchase of obligation of bank by officer. A director, officer, agent, or other employee of any bank may not, directly or indirectly, for the person's own personal benefit, purchase, sell, or be interested in the purchase or sale of any obligation of the bank or of any of the assets of the bank for a sum less than the amount that appears upon the face of the obligation or obligations purchased or sold. Every person violating the provisions of this section shall, in addition to the general penalties of this chapter, forfeit to the state twice the nominal amount or face value of the obligations or assets purchased or sold.   History: En. Sec. 43, Ch. 89, L. 1927; re-en. Sec. 6014.47, R.C.M. 1935; R.C.M. 1947, 5-522; amd. Sec. 1013, Ch. 56, L. 2009.
MT Code § 32-1-467 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-467. Loans to managing officer

  32-1-467. Loans to managing officer. (1) A bank may extend credit to a managing officer of the bank:   (a) in any amount to finance the education of the managing officer's children;   (b) in any amount to finance the purchase, construction, maintenance, or improvement of a residence of the managing officer if the extension of credit is secured by a first lien on the residence and the residence is:   (i) owned by the managing officer; or   (ii) expected to be owned by the managing officer after the extension of credit; and   (c) for any other purpose not specified in subsections (1)(a) and (1)(b) if the aggregate amount of loans to that individual under this subsection (1) does not exceed at any one time the greater of 2.5% of the bank's capital and unimpaired surplus or $25,000. However, in no event may the aggregate amount of loans to the individual exceed $100,000.   (2) The department may adopt rules to address loans made before October 1, 1993, and to define capital and unimpaired surplus for purposes of 32-1-465 and this section.   History: En. Sec. 45, Ch. 89, L. 1927; re-en. Sec. 6014.49, R.C.M. 1935; R.C.M. 1947, 5-524; amd. Sec. 34, Ch. 395, L. 1993; amd. Sec. 1, Ch. 17, Sp. L. November 1993.
MT Code § 32-1-468 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-468. Removal of directors, officers, or employees -- hearing

  32-1-468. Removal of directors, officers, or employees -- hearing. (1) A director, officer, or employee of a bank who is found by the department, after examination, to be negligent, dishonest, reckless, or incompetent or to have violated 32-1-325, 32-1-464, 32-1-472, or 32-1-473 must be removed from office by the board of directors of the bank on the written order of the department. If the directors neglect or refuse to remove the director, officer, or employee and any losses accrue to the bank by reason of the negligence, dishonesty, recklessness, or incompetency of the director, officer, or employee, the written order of the department is conclusive evidence of the negligence of the directors failing to act as provided in this section in any action brought against the board of directors by a depositor or creditor for recovery of losses.   (2) If the board of directors refuses to remove the director, officer, or employee on order of the department, the board of directors may file a request for hearing pursuant to the Montana Administrative Procedure Act.   History: En. Sec. 109, Ch. 89, L. 1927; re-en. Sec. 6014.120, R.C.M. 1935; amd. Sec. 170, Ch. 431, L. 1975; R.C.M. 1947, 5-1036; amd. Sec. 82, Ch. 382, L. 1997; amd. Sec. 18, Ch. 163, L. 2005; amd. Sec. 24, Ch. 75, L. 2019.
MT Code § 32-1-469 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-469. and 32-1-470 reserved

  32-1-469 and 32-1-470 reserved.
MT Code § 32-1-471 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-471. Penalty for unlawful hypothecation of property received

  32-1-471. Penalty for unlawful hypothecation of property received. Any officer or employee of any bank doing business in this state who, except in the manner authorized by law or the contract of the parties, pledges or in any way alienates any notes, stocks, bonds, mortgages, securities, or any other property coming into the officer's or employee's hands or into the possession of the bank as collateral, for safekeeping or in any other manner, and to which the bank has not acquired full title, is guilty of theft and upon conviction shall be punished as for other felonies.   History: En. Sec. 113, Ch. 89, L. 1927; re-en. Sec. 6014.124, R.C.M. 1935; amd. Sec. 42, Ch. 359, L. 1977; R.C.M. 1947, 5-1040; amd. Sec. 1014, Ch. 56, L. 2009.
MT Code § 32-1-472 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 4. Operation and Regulation|32-1-472. Concealing actions from directors

  32-1-472. Concealing actions from directors. Any officer or employee of any bank who intentionally conceals from the directors of such corporation, or committee thereof where the directors have delegated authority to a committee to pass on loans and discounts, any discount or loan made by and in behalf of the corporation or from its assets between the regular meetings of its board of directors or committee, the purchase of any security, the sale of any of its securities, or any guarantee, repurchase agreement, or any other agreement whereby the corporation is obligated, during the same period, is guilty of a misdemeanor and on conviction must be imprisoned in the county jail for not more than 12 months for each offense and may also be fined not more than $500, at the discretion of the court.   History: En. Sec. 114, Ch. 89, L. 1927; re-en. Sec. 6014.125, R.C.M. 1935; R.C.M. 1947, 5-1041.