reglab/housing_qa huggingface dataset:
MT Code § 32-2-1001 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 10. Dissolution, Closing, and Liquidation|32-2-1001. Dissolution and disincorporation

  32-2-1001. Dissolution and disincorporation. (1) Mutual associations may be dissolved in the manner provided by the laws of this state applicable to the dissolution of other corporations. However, a mutual association may, on a vote of two-thirds of its members at a special meeting called for that purpose in accordance with its bylaws, voluntarily quit business and liquidate upon the payment of its debts or upon agreement with all of its creditors to a plan of liquidation.  (2) A mutual association that wishes to voluntarily liquidate shall apply to the department for permission to liquidate and, in addition to complying with the laws of this state governing the liquidation of corporations, shall comply in all respects with the requirements or rules of the department governing voluntary dissolution.   (3) The board of directors of a mutual association whose members have voted to place it in voluntary liquidation shall appoint a liquidating agent to wind up the affairs of the mutual association. The liquidating agent, on authority of the board of directors, may execute deeds for the transfer of real property and do all things necessary to carry out the proper liquidation of the mutual association.   (4) Nothing in this section prevents the department from taking charge at any time when in its opinion the interest of creditors is not being protected. The decision of the department in these matters is controlling.   History: En. Sec. 88, Ch. 431, L. 2021.
MT Code § 32-2-1002 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 10. Dissolution, Closing, and Liquidation|32-2-1002. Grounds for closing mutual association

  32-2-1002. Grounds for closing mutual association. (1) If it appears to the department that any of the following situations have occurred, the department may, in its discretion, close the mutual association and take possession of all of the books, records, assets, and business of every description of the mutual association and hold and retain possession of them until the mutual association is authorized by the department to resume business or until its affairs are liquidated as provided in this chapter, and it shall do so in cases in which a mutual association comes into its possession voluntarily or in the manner provided by law. The situations are as follows:  (a) a mutual association has willfully violated its charter or a law of this state;   (b) a mutual association has willfully violated a general rule of the department, made in accordance with law;   (c) the capital of a mutual association is impaired or for any reason is below the amount required by state or federal law and has not been made good after notice, as provided by law, or, without that notice, in the event a majority of the board of directors of the mutual association notifies the department in writing that the impairment cannot be made good;   (d) a mutual association cannot meet or has failed to meet its liabilities as they become due in the regular course of business;   (e) a mutual association's reserve has fallen below the amount required by state or federal law and it has failed to make good that reserve within 30 days after being requested to do so by the department, without that notice, if a majority of the directors, in writing, notifies the department that the reserve cannot be made good within 30 days or if is continually allowing its reserve to fall below the required amount;   (f) a mutual association is conducting business in an unsafe and unauthorized manner or is in an unsafe and unsound condition;   (g) a mutual association has refused to submit its papers, books, and concerns to the inspection of the department; or   (h) an officer of a mutual association has refused to be examined under oath regarding the affairs, business, or concerns of any mutual association as they relate to solvency or matters having to do with the supervision by the department.   (2) The powers and authority conferred on the department by this section, except in cases of voluntary surrender, are discretionary and not mandatory. As long as the department acts in good faith, the department and its employees and agents may not be held liable civilly or criminally or on their official bonds for action taken under this section or for any failure to act under it.   History: En. Sec. 89, Ch. 431, L. 2021.
MT Code § 32-2-1003 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 10. Dissolution, Closing, and Liquidation|32-2-1003. When mutual association insolvent

  32-2-1003. When mutual association insolvent. A mutual association is insolvent within the meaning of this chapter when its capital is absorbed in losses and the remaining assets are not sufficient to pay and discharge its contracts, debts, and engagements.  History: En. Sec. 90, Ch. 431, L. 2021.
MT Code § 32-2-1004 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 10. Dissolution, Closing, and Liquidation|32-2-1004. Deposits in insolvent mutual associations

  32-2-1004. Deposits in insolvent mutual associations. (1) Except as otherwise provided by the Uniform Commercial Code, whenever a mutual association is insolvent in the manner set forth in this chapter, the mutual association may not accept or receive on deposit any money, financial bills or notes, United States treasury notes or currency, or other notes, bills, or drafts circulating as money or currency or transact any other business in connection with its operations, except as trustee for the depositors and parties transacting business with them, and it shall keep all such deposits of money, bills or notes, United States treasury notes or currency, or other notes, bills, or drafts circulating as money or currency separate and apart from the general assets of the mutual association from and after the date of the accrual of the insolvency. When the impairment or insolvency has been made good, the deposits received in trust may be transferred to the general assets of the mutual association on and by written consent of the department.  (2) If the insolvency is not made good, then all trust deposits must be returned to the depositors making them.   (3) An officer, director, cashier, manager, member, partner, or managing partner who knowingly accepts or receives, is accessory to, or permits or connives at the receiving or accepting of the trust deposits, except in the manner set forth in this section, is guilty of a felony and upon conviction shall be punished by a fine not exceeding $10,000 or imprisonment in the state prison for a term not exceeding 5 years, or both.   History: En. Sec. 91, Ch. 431, L. 2021.
MT Code § 32-2-1005 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 10. Dissolution, Closing, and Liquidation|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 false statement. (1) Any officer, agent, or clerk of a mutual association, knowing the mutual association to be insolvent, who receives money, bank bills, notes of the United States, or currency or other bills or drafts circulating as money or currency, except in the manner set forth in 32-2-1004, who subscribes or makes any false statements or entries in the books of the mutual association, who knowingly subscribes or exhibits any false paper with the intent to deceive any person authorized to examine as to the condition of the mutual association, or who willfully subscribes or makes false reports is subject to the penalties set forth in 32-2-607(5).  (2) Any person or the members of any partnership or mutual association who willfully or knowingly receive deposits, money, or commercial papers circulating as money, when the person, partnership, or mutual association is insolvent, or who subscribe or make any false statement or entries in the books of any such mutual association, who knowingly subscribe or exhibit any false papers with the intention of deceiving any person authorized to examine the condition of any mutual association provided for in this chapter, or who willfully subscribe or make false reports to the department are subject to the penalties set forth in 32-2-607(5).   History: En. Sec. 92, Ch. 431, L. 2021.
MT Code § 32-2-1006 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 10. Dissolution, Closing, and Liquidation|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 governmental agencies. (1) Except as provided in subsection (2), after applying to and obtaining the approval of the department and the district court of the county in which the mutual association is located, the liquidating agents of closed mutual associations may borrow money from an agency of the federal government on behalf of mutual associations closed and in liquidation. As security for the loan, the liquidating agent may pledge or mortgage assets and properties for the purpose of paying depositors or creditors in part or in full.  (2) If the federal deposit insurance corporation is appointed as the liquidating agent, the reporting and district court approval requirements of subsection (1) do not apply.   History: En. Sec. 93, Ch. 431, L. 2021.
MT Code § 32-2-1007 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 10. Dissolution, Closing, and Liquidation|32-2-1007. Corporate existence -- cessation

  32-2-1007. Corporate existence -- cessation. (1) The charters and the corporate existence of mutual associations cease automatically and become nonexistent upon the completion of liquidation of the affairs of the mutual association, whether accomplished voluntarily or through a legal process.  (2) For the purposes of this section, a mutual association's affairs are considered liquidated and completed when all of its property of every kind has been sold or applied toward the payment of its obligations and the corporation is left without property in existence or in reasonable expectancy.   History: En. Sec. 94, Ch. 431, L. 2021.
MT Code § 32-2-1008 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 10. Dissolution, Closing, and Liquidation|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 business. Whenever a mutual association ceases to do business as a mutual association, taxes may not be levied or collected in accordance with the laws governing the assessment of mutual associations but its property must be assessed in accordance with the laws governing the assessment of similar property of private corporations.  History: En. Sec. 95, Ch. 431, L. 2021.
MT Code § 32-2-1009 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 10. Dissolution, Closing, and Liquidation|32-2-1009. Penalty for maliciously declaring mutual association insolvent

  32-2-1009. Penalty for maliciously declaring mutual association insolvent. If, as a result of malice or for personal gain, an employee or agent of the department declares a mutual association insolvent, the employee or agent forfeits the employee's or agent's office.  History: En. Sec. 96, Ch. 431, L. 2021.
MT Code § 32-2-1010 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 10. Dissolution, Closing, and Liquidation|32-2-1010. Resumption after closing

  32-2-1010. Resumption after closing. After the department has taken possession of a mutual association, it may permit the mutual association to resume business following conditions approved by the department.  History: En. Sec. 97, Ch. 431, L. 2021.
MT Code § 32-2-1011 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 10. Dissolution, Closing, and Liquidation|32-2-1011. Powers of department on closing mutual association -- court proceedings

  32-2-1011. Powers of department on closing mutual association -- court proceedings. (1) After taking the assets and business of a mutual association into its possession, the department is authorized to collect all money due to the mutual association and to do other acts necessary to conserve the mutual association's assets and business. The department shall proceed to liquidate the affairs of the mutual association.  (2) The department may, except as limited by the terms of this chapter, do any acts necessary or desirable for the protection of the property and assets of the mutual association, the speedy and economical liquidation of the assets and affairs of the mutual association, the payment of creditors, or the reopening and resumption of business when that is practicable or desirable.   (3) The department may institute, in its own name or in the name of the mutual association, legal proceedings it considers expedient for the purposes of subsection (1).   (4) (a) By applying to the district court of the county in which the mutual association is located or to the judge of that court, the department may obtain an order to sell, compromise, or compound any bad or doubtful debt or claim and to sell and dispose of any assets. The sale may be made to officers, directors, or others interested in the mutual association on the consent of the court.   (b) In the court proceedings, the mutual association must be made a party by notice issued on order of the court or judge, in place of summons, and served on an officer of the mutual association if there is an officer in the county.   (5) If the federal deposit insurance corporation is appointed as the liquidating agent, subsection (4) does not apply.   History: En. Sec. 98, Ch. 431, L. 2021.
MT Code § 32-2-1012 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 10. Dissolution, Closing, and Liquidation|32-2-1012. Recourse of aggrieved mutual association -- injunction

  32-2-1012. Recourse of aggrieved mutual association -- injunction. (1) A mutual association aggrieved by the action of the department in taking possession of its assets or closing its doors may, within 14 days after possession has been taken, apply to the district court of the county in which its principal office of business is located to enjoin further proceedings by the department.  (2) The court, after notifying the department to appear at a specified time and place to show cause why further proceedings should not be enjoined and after hearing the allegations and proofs of the parties and determining facts, may on the merits dismiss the application or enjoin the department from further proceeding and direct it to surrender the business and assets of the mutual association.   (3) The application for injunction may be heard at any time after 5 days' notice from the time of service on the department, in the discretion of the court, or at any time prior to that time by the consent of the department.   (4) Application must be made on the verified complaint of the mutual association, in the form used in civil actions, and a copy of the complaint must be served on the department with the order to show cause.   (5) The department shall, at least 2 days before the time set for hearing, file with the court and serve on counsel for the plaintiff an answer to the complaint, also in the form used in civil actions. Any questions raised by motion in other actions may be raised in the answer.   (6) On the issues raised by the complaint and answer, the court, at the time fixed for showing cause, shall try the matter on the merits by hearing the allegations and proofs of the parties and shall enter judgment, as in the trial of other civil actions.   (7) If the department makes no appearance in the time allowed, the court shall enter its default and proceed to hear the proofs of the plaintiff as in civil actions under similar circumstances and enter judgment accordingly. The judgment entered either after hearing on the merits or by default is a final judgment.   (8) During the pendency of litigation, the department shall take action in relation to the assets of the mutual association necessary to conserve them.   History: En. Sec. 99, Ch. 431, L. 2021.
MT Code § 32-2-1013 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 10. Dissolution, Closing, and Liquidation|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 salary and expenses. (1) The department may retain those officers or employees of the mutual association that it considers necessary. It shall require from the agent appointed by it and from those assistants who have charge of any of the assets of the mutual association that security for the faithful discharge of their duties as it considers proper.  (2) The salary of a liquidating agent and necessary clerical assistance and other expenses incurred by a liquidating agent must be borne equally and ratably by the mutual association or mutual associations in process of liquidation under the agent's charge in proportion to the total amount of resources of each of the mutual associations. The funds for those expenses must be raised by assessing each mutual association in ratio set forth in this section and paying those expenses directly to the persons entitled to them, without depositing any of the funds in the state treasury.   History: En. Sec. 100, Ch. 431, L. 2021.
MT Code § 32-2-1014 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 10. Dissolution, Closing, and Liquidation|32-2-1014. Compensation of agents and attorneys

  32-2-1014. Compensation of agents and attorneys. (1) Except as provided in subsection (2), after notice to the mutual association and subject to approval by a district court judge of the county in which the mutual association is located, the compensation of the agents, attorneys, expert accountants, and other assistants appointed by the department and all expenses of liquidation and distribution of a mutual association whose assets and business have been taken possession of by the department must be fixed by the department. The department shall, on written request of the judge, supply semiannual statements showing the condition of the mutual association in the process of liquidation. Except in cases of emergency, the compensation paid to attorneys and expert accountants must be fixed and approved before services are rendered. The compensation must be paid out of the funds of the mutual association in the hands of the department and are a proper charge and lien on the assets of the mutual association.  (2) If the federal deposit insurance corporation is appointed as the liquidating agent, the reporting and district court approval requirements in subsection (1) do not apply.   History: En. Sec. 101, Ch. 431, L. 2021.
MT Code § 32-2-1015 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 10. Dissolution, Closing, and Liquidation|32-2-1015. Notice to creditors of insolvent mutual association

  32-2-1015. Notice to creditors of insolvent mutual association. (1) Except as provided in subsection (2), the department shall give notice by advertisement once a week for 2 successive weeks in a newspaper of general circulation in the town or city where the mutual association is located, if there is one, or in another newspaper that is published in the state and designated by the department. The notice must call on all persons who have claims against the mutual association to present them to the department or its authorized agent at a place specified in the notice and to make sworn proof, in a form to be fixed by the department, within the time specified in the notice, not less than 90 days after the date of the first publication. A copy of the notice must be mailed to all persons whose names appear as creditors on the books of the mutual association.  (2) If the federal deposit insurance corporation is appointed as the liquidating agent, the provisions of subsection (1) do not apply and notice to creditors must be given pursuant to federal law.   History: En. Sec. 102, Ch. 431, L. 2021.
MT Code § 32-2-1016 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 10. Dissolution, Closing, and Liquidation|32-2-1016. Claims -- allowance and rejection

  32-2-1016. Claims -- allowance and rejection. (1) Except as provided in subsection (6), the department may reject or allow all claims in whole or in part and on each claim allowed shall designate the order of its priority.  (2) If a claim is rejected or an order of priority allowed lower than that claimed, notice must be given the claimant personally or by common courier with tracking capability and an affidavit of the service of the notice, which is prima facie evidence of service, must be filed in the office of the department.   (3) The action of the department is final unless an action is brought by the claimant against the mutual association in the district court of the county in which the mutual association is located within 90 days after service. An appeal from the department's allowance may also be taken by any party in interest by serving notice on the department, stating the grounds of objection and filing an action in that court within 30 days after allowance.   (4) Within 5 days after the notice, the department shall file in the court and serve on the appellant a copy of the claim and its reasons for allowance.   (5) The court shall, after 5 days' notice of time and place of hearing on the issues raised, hear the proof of the parties and enter judgment reversing, affirming, or modifying the department's action.   (6) If the federal deposit insurance corporation is appointed as the liquidating agent, the provisions of subsections (1) through (5) do not apply and notice to creditors must be given pursuant to federal law.   History: En. Sec. 103, Ch. 431, L. 2021.
MT Code § 32-2-1017 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 10. Dissolution, Closing, and Liquidation|32-2-1017. Payment of claims

  32-2-1017. Payment of claims. (1) Claims presented to the department prior to the expiration of the time fixed in the notice to creditors and allowed by it must be paid in the order of the priority fixed in this chapter.  (2) Those claims filed after that expiration and within 1 year of that expiration are entitled, after they have been allowed by the department, to share in the distribution of the assets of the mutual association only to the extent of the assets undistributed in the hands of the department and available for the payment of claims of their order of priority at the time claims are filed.   (3) All claims filed after the expiration of 1 year following the date fixed in the notice to creditors as the time for presentation of claims are not entitled to be allowed or paid unless all other creditors' claims of any kind have been fully paid and a surplus remains in the hands of the department and then only from that surplus.   (4) If the federal deposit insurance corporation is appointed as the liquidating agent, the times fixed in subsections (1) through (3) do not apply and claims must be filed in accordance with times fixed pursuant to federal law.   History: En. Sec. 104, Ch. 431, L. 2021.