reglab/housing_qa huggingface dataset:
MT Code § 32-1-552 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 5. Dissolution, Closing, and Liquidation|32-1-552. Further duties of liquidating officer

  32-1-552. Further duties of liquidating officer. (1) For the purpose of this section the term "liquidating officer" includes every person legally empowered to liquidate the business and affairs of a state bank, whether the liquidation is by the department or its deputies and agents. The term also includes all receivers of state banks qualified to liquidate a state bank under any law of this state.   (2) The liquidating officer of a bank may decide when the assets of a failed bank are not sufficient to pay the debts, contracts, engagements, and liabilities and may determine the time when and the court where necessary legal proceedings are conducted, subject to the general provisions of law governing venue and place of trial.   (3) The provisions of 32-1-551 through 32-1-553 do not impose liability on a stockholder of a bank that is a member of the federal deposit insurance corporation.   History: En. as part of Sec. 21, Ch. 89, L. 1927; amd. Sec. 1, Ch. 110, L. 1935; re-en. Sec. 6014.25, R.C.M. 1935; amd. Sec. 11, Ch. 431, L. 1975; amd. Sec. 3, Ch. 71, L. 1977; R.C.M. 1947, 5-403(1) thru (3); amd. Sec. 46, Ch. 395, L. 1993.
MT Code § 32-1-553 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 5. Dissolution, Closing, and Liquidation|32-1-553. Department to file inventory -- report required -- exception

  32-1-553. Department to file inventory -- report required -- exception. (1) Except as provided in subsection (2), the department shall, within 90 days after taking charge of an insolvent bank, file with the district court having jurisdiction a complete inventory of all of the property and assets of the insolvent bank, such as furniture, fixtures, real estate, mortgages, bonds, and notes, secured and unsecured. The department shall every 6 months, or more often if required by the court, file with the court a report showing the status of the liquidation of the bank, the assets that have been liquidated and collected, the amounts and manner of payments made to creditors, the manner in which claims have been handled, and the assets on hand. The report must contain other information the court requires, so that the court and the public may be apprised of the condition of the bank and the manner in which it is being liquidated with respect to the collection and sale of assets belonging to the bank and the manner in which claims are being paid. The report and account must be set for hearing upon the notice the court may require and, if found to be correct, be approved by the court.   (2) If the federal deposit insurance corporation is appointed as the liquidating agent, subsection (1) does not apply.   History: En. as part of Sec. 21, Ch. 89, L. 1927; amd. Sec. 1, Ch. 110, L. 1935; re-en. Sec. 6014.25, R.C.M. 1935; amd. Sec. 11, Ch. 431, L. 1975; amd. Sec. 3, Ch. 71, L. 1977; R.C.M. 1947, 5-403(4); amd. Sec. 47, Ch. 395, L. 1993.
MT Code § 32-1-554 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 5. Dissolution, Closing, and Liquidation|32-1-554. through 32-1-560 reserved

  32-1-554 through 32-1-560 reserved.
MT Code § 32-1-561 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 5. Dissolution, Closing, and Liquidation|32-1-561. Definitions

  32-1-561. Definitions. As used in 32-1-562 through 32-1-565, unless the context requires otherwise, the following definitions apply:   (1) "Bank" includes commercial banks, savings banks, trust companies, any person or association of persons lawfully carrying on the business of banking, whether incorporated or not, and, to the extent that the provisions of 32-1-562 through 32-1-565 are not inconsistent with and do not infringe upon paramount federal law, also includes national banks.   (2) "Emergency" means any condition or occurrence which may interfere physically with the conduct of normal business operations at any of the offices of a bank or which poses an imminent or existing threat to the safety or security of persons or property or both. Without limiting the generality of the foregoing, an emergency may arise as a result of any of the following:   (a) fire;   (b) flood;   (c) earthquake;   (d) hurricanes;   (e) wind, rain, or snowstorms;   (f) labor disputes and strikes;   (g) power failures;   (h) transportation failures;   (i) interruption of communication facilities;   (j) shortages of fuel, housing, food, transportation, or labor;   (k) robbery or attempted robbery;   (l) actual or threatened enemy attack;   (m) epidemics or other catastrophes;   (n) riots, civil commotions, and other acts of lawlessness or violence, actual or threatened.   (3) "Office" means any place at which a bank transacts its business or conducts operations related to its business.   (4) "Officer" means the person or persons designated by the board of directors, board of trustees, or other governing body of a bank to act for the bank in carrying out the provisions of 32-1-562 through 32-1-565 or, in the absence of a designation or of the officer or officers designated, the president or any other officer currently in charge of the bank or of the office or offices involved.   History: En. Sec. 1, Ch. 32, L. 1971; amd. Sec. 38, Ch. 431, L. 1975; R.C.M. 1947, 5-1058.
MT Code § 32-1-562 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 5. Dissolution, Closing, and Liquidation|32-1-562. Power of department

  32-1-562. Power of department. When the department is of the opinion that an emergency exists or is impending in this state or in any part of this state, it may, by proclamation, authorize banks located in the affected area to close any of their offices. In addition, if the department is of the opinion that an emergency exists or is impending which affects or may affect a particular bank or banks, or a particular office or offices thereof, but not banks located in the area generally, it may authorize the particular bank or banks or office or offices so affected to close. The office or offices so closed shall remain closed until the department proclaims that the emergency has ended or until such earlier time as the officers of the bank determine that one or more offices theretofore closed because of the emergency should reopen and, in either event, for such further time thereafter as may reasonably be required to reopen.   History: En. Sec. 2, Ch. 32, L. 1971; amd. Sec. 39, Ch. 431, L. 1975; R.C.M. 1947, 5-1059.
MT Code § 32-1-563 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 5. Dissolution, Closing, and Liquidation|32-1-563. Powers of officers

  32-1-563. Powers of officers. (1) When the officers of a bank are of the opinion that an emergency exists or is impending which affects or may affect any of a bank's offices, they may, in the reasonable and proper exercise of their discretion, determine not to open any of those offices on any banking day or, if having opened, to close any of those offices during the continuation of the emergency, even if the department has not issued and does not issue a proclamation of emergency. An office so closed shall remain closed until the officers determine that the emergency has ended and for a further time thereafter as may reasonably be required to reopen. However, in no case shall an office remain closed for more than 48 consecutive hours, excluding other legal holidays, without requesting the approval of the department.   (2) The officers of a bank may close any of the bank's offices on any day:   (a) designated by proclamation of the president of the United States or the governor of this state as a day of mourning, rejoicing, or other special observance; or   (b) that the federal reserve bank of Minneapolis is not open for business.   History: En. Sec. 3, Ch. 32, L. 1971; amd. Sec. 40, Ch. 431, L. 1975; R.C.M. 1947, 5-1060; amd. Sec. 2, Ch. 264, L. 1979.
MT Code § 32-1-564 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 5. Dissolution, Closing, and Liquidation|32-1-564. Notice of bank closing

  32-1-564. Notice of bank closing. A bank closing an office under authority granted under 32-1-563(1) shall give to the department as prompt notice of its action as conditions will permit and by any means available, and, in the case of a national bank, to the comptroller of the currency.   History: En. Sec. 4, Ch. 32, L. 1971; amd. Sec. 41, Ch. 431, L. 1975; R.C.M. 1947, 5-1061.
MT Code § 32-1-565 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 5. Dissolution, Closing, and Liquidation|32-1-565. Effect of closing

  32-1-565. Effect of closing. (1) A day on which a bank or any of its offices is closed during any part of its normal banking hours under 32-1-562 and 32-1-563 with respect to that bank or, if not all of its offices are closed, then with respect to the office or offices which are closed shall be a legal holiday for all purposes with respect to any banking business. No liability or loss of rights of any kind on the part of a bank, or director, officer, or employee thereof, may accrue or result by virtue of a closing authorized by 32-1-562 and 32-1-563.   (2) The provisions of 32-1-561 through 32-1-565 are in addition to any other law of this state or of the United States authorizing the closing of a bank or excusing the delay by a bank in the performance of its duties and obligations because of emergencies or conditions beyond the bank's control or otherwise.   History: En. Sec. 5, Ch. 32, L. 1971; amd. Sec. 42, Ch. 431, L. 1975; R.C.M. 1947, 5-1062.
MT Code § 32-1-601 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 6. Federal Deposit Insurance Corporation|32-1-601. Definition of banking institution

  32-1-601. Definition of banking institution. The term "banking institution" as used in this part shall be construed to mean any bank, trust company, bank and trust company, stock savings bank, or mutual savings bank, which is now or may hereafter be organized under the laws of this state.   History: En. Sec. 1, Ch. 197, L. 1937; R.C.M. 1947, 5-1201.
MT Code § 32-1-602 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 6. Federal Deposit Insurance Corporation|32-1-602. Banking institutions empowered to receive federal deposit insurance corporation aid

  32-1-602. Banking institutions empowered to receive federal deposit insurance corporation aid. A banking institution may, on the authority of its board of directors or a majority thereof, enter into those contracts, incur those obligations, and generally perform any acts necessary or appropriate in order to take advantage of any memberships, loans, subscriptions, contracts, grants, rights, or privileges available to banking institutions or to their depositors, creditors, stockholders, conservators, or liquidators by virtue of those provisions of the Federal Deposit Insurance Act which establish the federal deposit insurance corporation and provide for the insurance of deposits or of any other act or resolution of congress to aid, regulate, or safeguard banking institutions and their depositors. A banking institution may also subscribe for and acquire stock, debentures, bonds, or other types of securities of the federal deposit insurance corporation and may comply with the lawful rules and requirements from time to time adopted by that corporation.   History: En. Sec. 2, Ch. 197, L. 1937; amd. Sec. 64, Ch. 431, L. 1975; R.C.M. 1947, 5-1202.
MT Code § 32-1-603 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 6. Federal Deposit Insurance Corporation|32-1-603. Appointment of the corporation as agent in liquidation

  32-1-603. Appointment of the corporation as agent in liquidation. If a banking institution, the deposits in which are in any extent insured by the federal deposit insurance corporation created by the Federal Deposit Insurance Act, 12 U.S.C. 1811 through 1831, is closed on account of inability to meet the demands of its creditors, the department may appoint the corporation agent, without bond, to assist it or act for it in the liquidation of that banking institution.   History: En. Sec. 3, Ch. 197, L. 1937; amd. Sec. 65, Ch. 431, L. 1975; R.C.M. 1947, 5-1203.
MT Code § 32-1-604 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 6. Federal Deposit Insurance Corporation|32-1-604. Subrogation of corporation

  32-1-604. Subrogation of corporation. Whenever any banking institution shall have been closed as aforesaid and said federal deposit insurance corporation shall pay or make available for payment the insured deposit liabilities of such closed institution, said corporation, whether or not it shall have been appointed agent of the department in the liquidation of such closed banking institution, as herein provided, shall be and become subrogated by operation of law to all rights against such closed banking institution of each owner of a claim for deposit to the extent now or hereafter necessary to enable the federal deposit insurance corporation, under federal law, to make insurance payments available to depositors of closed insured banks.   History: En. Sec. 4, Ch. 197, L. 1937; amd. Sec. 170, Ch. 431, L. 1975; R.C.M. 1947, 5-1204.
MT Code § 32-1-605 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 6. Federal Deposit Insurance Corporation|32-1-605. Examinations by the corporation -- accepted when

  32-1-605. Examinations by the corporation -- accepted when. (1) The department may accept, in its discretion, in place of any examination authorized by the laws of this state to be conducted by the department of a banking institution, the examination made of it within a reasonable period by the federal deposit insurance corporation, if a signed copy of the examination is furnished to the department. The department may also, in its discretion, accept a report relative to the condition of a banking institution obtained by the corporation within a reasonable period, in place of a report authorized by the laws of this state to be required of the institution by the department, if a copy of the report is furnished to the department. The department may, in its discretion, disclose to the corporation, or an official or examiner thereof, any information possessed by the department with reference to the conditions or affairs of an insured institution.   (2) The department may furnish to the corporation, or to an official or examiner thereof, a copy or copies of any examinations made of those banking institutions and of any reports made by them.   (3) Nothing in this section limits the duty of any banking institution in this state, deposits in which are to any extent insured under the Federal Deposit Insurance Act or any substitution for it, to comply with the provisions of that act, its substitutions, or the requirements of that corporation relative to examinations and reports or limits the powers of the department with reference to examinations and reports under existing law.   History: En. Sec. 5, Ch. 197, L. 1937; amd. Sec. 66, Ch. 431, L. 1975; R.C.M. 1947, 5-1205.
MT Code § 32-1-606 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 6. Federal Deposit Insurance Corporation|32-1-606. Closed banking institutions empowered to borrow from corporation

  32-1-606. Closed banking institutions empowered to borrow from corporation. If a banking institution is closed on account of inability to meet the demands of its depositors, by action of the department, by action of its directors, or in the event of its insolvency or suspension, the department or its agent may borrow from the corporation and furnish any of the assets of the institution to the corporation as security for a loan from the corporation. The department may sell to the corporation any part or all of the assets of the institution. The provisions of this section do not limit the power of a banking institution or the department to pledge or sell assets in accordance with any existing law.   History: En. Sec. 6, Ch. 197, L. 1937; amd. Sec. 67, Ch. 431, L. 1975; R.C.M. 1947, 5-1206; amd. Sec. 48, Ch. 395, L. 1993.
MT Code § 32-1-701 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 7. Uniform Common Trust Act|32-1-701. Short title

  32-1-701. Short title. This part may be cited as the "Uniform Common Trust Act".   History: En. Sec. 4, Ch. 64, L. 1955; R.C.M. 1947, 5-1404.
MT Code § 32-1-702 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 7. Uniform Common Trust Act|32-1-702. Application

  32-1-702. Application. This part shall apply to fiduciary relationships in existence as of July 1, 1955, or thereafter established.   History: En. Sec. 7, Ch. 64, L. 1955; R.C.M. 1947, 5-1406.
MT Code § 32-1-703 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 7. Uniform Common Trust Act|32-1-703. Common trust fund allowed

  32-1-703. Common trust fund allowed. (1) Any bank or trust company qualified to act as fiduciary in this state may establish and administer common trust funds composed of property permitted by law for the investment of trust funds for the purpose of furnishing investments to:   (a) itself as fiduciary;   (b) itself and others as cofiduciaries;   (c) any affiliated bank or trust company, including any foreign affiliated bank or trust company, as fiduciary;   (d) any affiliated bank or trust company, including any foreign affiliated bank or trust company, and others as cofiduciaries; or   (e) any combination of the entities listed in subsections (1)(a) through (1)(d).   (2) Any bank or trust company may, as that fiduciary or cofiduciary, invest funds which it lawfully holds for investment in interests in the common trust funds administered by itself or by any affiliated bank or trust company if the investment is not prohibited by the instrument, judgment, decree, order, or statute creating and governing such fiduciary relationship and if, in the case of cofiduciaries, the bank or trust company procures the consent of its cofiduciaries to the investment.   History: En. Sec. 1, Ch. 64, L. 1955; amd. Sec. 68, Ch. 431, L. 1975; R.C.M. 1947, 5-1401; amd. Sec. 1, Ch. 213, L. 1981.
MT Code § 32-1-704 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 7. Uniform Common Trust Act|32-1-704. Accounting for trust funds

  32-1-704. Accounting for trust funds. Unless ordered by a court of competent jurisdiction, the bank or trust company operating such common trust funds is not required to render a court accounting with regard to such funds, but it may, by application to the district court, secure approval of such an accounting on such conditions as the court may establish.   History: En. Sec. 2, Ch. 64, L. 1955; R.C.M. 1947, 5-1402.
MT Code § 32-1-705 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 7. Uniform Common Trust Act|32-1-705. Construction

  32-1-705. Construction. This part shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it.   History: En. Sec. 3, Ch. 64, L. 1955; R.C.M. 1947, 5-1403.
MT Code § 32-1-706 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 7. Uniform Common Trust Act|32-1-706. Common trust funds established

  32-1-706. Common trust funds established. Each common trust fund established hereunder is a separate and distinct entity from the fiduciary relationships participating in the fund. No fiduciary, in administering a participating fiduciary relationship, may be required to make any apportionment or allocation between the principal and income of such relationship different from that made for the common trust fund. No such participating fiduciary relationship or person having an interest in the relationship may have or be considered to have any ownership in any particular property of the common trust fund; but each participating fiduciary relationship shall have a proportionate undivided interest in the fund and its income; and the ownership of all property of the common trust fund shall be in the trustee of the fund.   History: En. 5-1407 by Sec. 1, Ch. 271, L. 1977; R.C.M. 1947, 5-1407; amd. Sec. 2, Ch. 213, L. 1981.
MT Code § 32-1-707 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 7. Uniform Common Trust Act|32-1-707. Affiliated defined

  32-1-707. Affiliated defined. For purposes of this part, two or more banks or trust companies are affiliated if they are members of the same affiliated group, within the meaning of section 1504 of the United States Internal Revenue Code.   History: En. Sec. 3, Ch. 213, L. 1981.
MT Code § 32-1-708 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 7. Uniform Common Trust Act|32-1-708. Limited application of insurance law -- exemption

  32-1-708. Limited application of insurance law -- exemption. (1) Nothing in this part exempts a common trust fund or any fiduciary thereof from the requirements of Title 33 if such common trust fund or fiduciary is used for insurance purposes.   (2) The establishment and maintenance of common trust funds under this part are exempt from the provisions of Title 30, chapter 10.   History: En. Sec. 4, Ch. 213, L. 1981.
MT Code § 32-1-801 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 8. Subsidiary Trust Companies|32-1-801. Short title

  32-1-801. Short title. This part may be cited as "The Subsidiary Trust Company Act of 1975".   History: En. 5-1501 by Sec. 1, Ch. 401, L. 1975; R.C.M. 1947, 5-1501.