reglab/housing_qa huggingface dataset:
MT Code § 32-2-925 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-925. Limitations on loans -- rulemaking

  32-2-925. Limitations on loans -- rulemaking. (1) The total loans or extensions of credit to a person, partnership, or corporation by a mutual association, including loans to a partnership and to the members of the partnership, may not exceed 15% of the mutual association's capital, plus an additional 10% of the mutual association's capital, if the amount that exceeds the mutual association's 15% general limit is fully secured by readily marketable collateral, as defined in 12 C.F.R. 32.2(v). To qualify for the additional 10% limit, the mutual association must perfect a security interest in the collateral under applicable law and the collateral must have a current market value at all times of at least 100% of the amount of the loan or extension of credit that exceeds the mutual association's 15% general limit.  (2) To the extent specified in regulations of the office of the comptroller of the currency, a mutual association may invest in, sell, or otherwise deal in the following loans and other investments without percentage of assets limitation:   (a) account loans -- loans on the security of its savings accounts and loans specifically related to transaction accounts;   (b) residential real property loans -- loans on the security of liens on residential real property;   (c) United States government securities -- investments in obligations of, or fully guaranteed as to principal interest by, the United States;   (d) federal home loan bank and federal national mortgage -- investments in the stock or bonds of a federal home loan bank or in the stock of the federal national mortgage association;   (e) federal home loan mortgage corporation instruments -- investments in mortgages, obligations, or other securities that are or have been sold by the federal home loan mortgage corporation pursuant to section 305 or 306 of the federal home loan mortgage corporation act; and   (f) other government securities -- investments in obligations, participations, securities, or other instruments issued by or fully guaranteed as to principal and interest by the federal national mortgage association, the student loan marketing association, the government national mortgage association, or any agency of the United States. A savings association may issue and sell securities that are guaranteed pursuant to section 306(g) of the National Housing Act.   (3) The commissioner may adopt rules to implement this section.   History: En. Sec. 66, Ch. 431, L. 2021.
MT Code § 32-2-926 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-926. through 32-2-929 reserved

  32-2-926 through 32-2-929 reserved.
MT Code § 32-2-930 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-930. Bonding of employees

  32-2-930. Bonding of employees. (1) The board of directors of a mutual association shall require bonding for all officers and employees of the mutual association 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 mutual association and its customers.  (2) The board of directors shall, by order entered on the minute books of the board, designate the officers and employees to be bonded and the amount of bonds to be given. Action related 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 mutual association, 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 mutual association 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. 67, Ch. 431, L. 2021.
MT Code § 32-2-931 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-931. Persons previously convicted -- rulemaking

  32-2-931. Persons previously convicted -- rulemaking. (1) Unless the commissioner provides written consent:  (a) a person who has been convicted of a criminal offense involving dishonesty or a breach of trust or money laundering or who has agreed to enter into a pretrial diversion or similar program in connection with a prosecution for such an offense may not:   (i) become or continue as an institution-affiliated party with respect to any mutual association;   (ii) own or control, directly or indirectly, any mutual association; or   (iii) otherwise participate, directly or indirectly, in the conduct of the affairs of any mutual association; and   (b) a mutual association may not permit any person referred to in subsection (1)(a) to engage in any conduct or continue any relationship prohibited under subsection (1)(a).   (2) A person who knowingly violates subsection (1)(a) is subject to the penalties in 32-2-607(5).   (3) The commissioner may adopt rules to implement this section.   History: En. Sec. 68, Ch. 431, L. 2021.
MT Code § 32-2-932 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-932. Sale of securities by officer to mutual association

  32-2-932. Sale of securities by officer to mutual association. (1) A director, officer, or employee of a mutual association 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 mutual association of which the person is a director or officer 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, or employee is personally or financially interested, without a vote of the majority of the board of the mutual association, duly noted on the minutes of the meeting at which the transaction is decided on. The minutes must be signed by a majority of the board.  (2) Any director, officer, or employee of any mutual association who knowingly violates or consents to the violation of this provision is subject to the penalties in 32-2-607(5).   History: En. Sec. 69, Ch. 431, L. 2021.
MT Code § 32-2-933 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-933. Real estate that mutual associations may purchase, hold, or convey

  32-2-933. Real estate that mutual associations may purchase, hold, or convey. (1) A mutual association organized under the provisions of this chapter may purchase, hold, or convey real estate that:  (a) is for its accommodation in the transaction of its business, but the mutual association may not invest an amount exceeding 100% of its paid-up capital in the lot and building in which the business of the company is or is projected to be carried on, furniture, equipment and fixtures, vaults and safety vaults, and boxes necessary or proper to carry on its mutual association business if property held for future use as a mutual association office site is held pursuant to a detailed written business plan formally adopted by the directors of the mutual association;   (b) is mortgaged to in good faith by way of security for loans previously made or money due to the mutual association;   (c) is conveyed to the mutual association in satisfaction of debts previously contracted in the course of its business; or   (d) it purchases at sales under judgments, decrees, or mortgages held by the mutual association.   (2) The detailed written business plan required by subsection (1)(a) must include information outlining the manner in which the acquired real estate will be developed for future use as a mutual association office site, including but not limited to the costs of projected construction, furniture, and equipment and fixtures.   History: En. Sec. 70, Ch. 431, L. 2021.
MT Code § 32-2-934 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-934. Purchase of obligation of mutual association by officer

  32-2-934. Purchase of obligation of mutual association by officer. A director, officer, agent, or other employee of a mutual association may not, directly or indirectly for the person's own benefit, purchase, sell, or be interested in the purchase or sale of any obligation of the mutual association or of any assets of the mutual association for a sum less than the amount that appears on the face of the obligation or obligations purchased or sold. A 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. 71, Ch. 431, L. 2021.
MT Code § 32-2-935 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-935. Fraud by director, officer, agent, or employee

  32-2-935. Fraud by director, officer, agent, or employee. A director, executive officer, agent, or employee of a mutual association is guilty of a felony if that person:  (1) knowingly receives or takes possession of any mutual association property, except in payment for a just demand, and with intent to defraud:   (a) fails to make or fails 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 of control of its books, willfully refuses or neglects to make a proper entry in the books of that mutual association as required by law, to exhibit the books, or to allow the books to be inspected and extracts to be taken from them by the department.   History: En. Sec. 72, Ch. 431, L. 2021.
MT Code § 32-2-936 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-936. Removal of directors, officers, or employees -- hearing

  32-2-936. Removal of directors, officers, or employees -- hearing. (1) A director, officer, or employee of a mutual association who is found by the department, after examination, to be negligent, dishonest, reckless, or incompetent or to have violated 32-2-821, 32-2-935, 32-2-938, or 32-2-939 must be removed from office by the board of directors of the mutual association 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 mutual association 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 failure of the directors 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 in response to an order of the department, the board of directors may file a request for hearing pursuant to the Montana Administrative Procedure Act.   History: En. Sec. 73, Ch. 431, L. 2021.
MT Code § 32-2-937 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-937. Penalty for unlawful hypothecation of property received

  32-2-937. Penalty for unlawful hypothecation of property received. An officer or employee of a mutual association 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 mutual association as collateral, for safekeeping or in any other manner, and to which the mutual association has not acquitted full title, is guilty of theft and upon conviction must be punished as for other felonies.  History: En. Sec. 74, Ch. 431, L. 2021.
MT Code § 32-2-938 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-938. Concealing actions from directors

  32-2-938. Concealing actions from directors. An officer or employee of a mutual association who intentionally conceals from the directors of the association, or from a committee of the mutual association when the directors have delegated authority, any discount or loan made by 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 through which the corporation is obligated, during the same period, is subject to the penalties set forth in 32-2-607(5).  History: En. Sec. 75, Ch. 431, L. 2021.
MT Code § 32-2-939 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-939. Theft of funds by directors, officers, or employees

  32-2-939. Theft of funds by directors, officers, or employees. A director, officer, or employee of a mutual association who fraudulently appropriates or abstracts or misapplies any of the money, funds, credits, or property of the mutual association when owned by it or held in trust or who issues or puts forth any certificate of deposit, draws any order or bill of exchange, makes any acceptance, assigns any note, bond, draft, bill of exchange, mortgage, judgment, or decree with intent to injure or defraud the mutual association or any person or corporation or to deceive any officer of the mutual association, or any other person, or anyone appointed to examine the affairs of the mutual association or any other person who with like intent aids or abets any director, officer, or employee in the violation of this section is guilty of theft and upon conviction shall be imprisoned in the state prison for a period not to exceed 20 years or be fined an amount not to exceed $50,000, or both.  History: En. Sec. 76, Ch. 431, L. 2021.
MT Code § 32-2-940 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-940. False statement to obtain loan

  32-2-940. False statement to obtain loan. A person who makes a statement, knowing it to be false, for the purpose of obtaining for that person or for any other person, firm, corporation, or association a loan of money from a mutual association or for the purpose of gaining an extension of time for the payment of any debt due the mutual association shall be punished by a fine of not more than $1,000 or by imprisonment in the county jail for not more than 1 year, or both.  History: En. Sec. 77, Ch. 431, L. 2021.
MT Code § 32-2-941 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-941. Mutual association holidays

  32-2-941. Mutual association holidays. In addition to emergency closings authorized by 32-2-1030 through 32-2-1034, a mutual association in the state may remain closed and refrain from doing business on those legal holidays designated in 1-1-216.  History: En. Sec. 78, Ch. 431, L. 2021.
MT Code § 32-2-942 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-942. Transaction on holiday

  32-2-942. Transaction on holiday. No law of this state may affect the validity of, or render void or voidable, the payment, certification, or acceptance of a check or other negotiable instrument or any other transaction by a mutual association in this state because it was done or performed during any time other than regular banking hours or on a legal holiday. A mutual association in this state, which by law or custom is entitled to close at 12 noon on any Saturday or for the whole or part of any legal holiday, may not be compelled to remain open for transaction of business or to perform any of the acts or transactions in this section on any Saturday after 12 noon or any legal holiday except at its option.  History: En. Sec. 79, Ch. 431, L. 2021.
MT Code § 32-2-943 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-943. Closing on Saturdays authorized -- Saturday treated as holiday

  32-2-943. Closing on Saturdays authorized -- Saturday treated as holiday. A mutual association and a federal savings association incorporated or organized under the laws of the United States or a federal reserve bank may, at its election, remain closed and refrain from the transaction of business on Saturdays. Any Saturday on which a mutual association remains closed is, with respect to the mutual association, a holiday and not a business day. Any act authorized, required, or permitted to be performed on a Saturday at or by or with respect to a mutual association, including any federal savings association or federal reserve bank, may be performed on the next succeeding business days, and no liability or loss of any rights of any kind will result from such closing on Saturday or from the nonopening of any mutual association for the transaction of business on any Saturday under the authority of 32-2-943 through 32-2-945.  History: En. Sec. 80, Ch. 431, L. 2021.
MT Code § 32-2-944 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-944. Mutual association hours and business days

  32-2-944. Mutual association hours and business days. A mutual association may provide for its business hours or business days by giving reasonable notice to the public and providing a copy of the notice to the department.  History: En. Sec. 81, Ch. 431, L. 2021.
MT Code § 32-2-945 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-945. Interest payable at mutual association on Saturday -- how paid

  32-2-945. Interest payable at mutual association on Saturday -- how paid. When, by the terms of any note or obligation, interest is payable to a mutual association on any Saturday on which a mutual association is closed pursuant to the authority of 32-2-943 through 32-2-945, interest payable to the mutual association on that Saturday may be paid in the amount due on that Saturday on the next succeeding business day with the same effect as if paid to the mutual association on Saturday.  History: En. Sec. 82, Ch. 431, L. 2021.
MT Code § 32-2-946 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-946. through 32-2-949 reserved

  32-2-946 through 32-2-949 reserved.
MT Code § 32-2-950 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-950. Destruction of records -- rulemaking

  32-2-950. Destruction of records -- rulemaking. (1) Mutual associations are required to preserve or keep their records of customer accounts for at least 8 years after January 1 of the year following the time that the records are made. However, records showing unpaid balances in favor of depositors of a mutual association may not be destroyed. Liability may not accrue against a mutual association destroying any records, except records for which destruction is forbidden by this section, after the expiration of the time provided in this section.  (2) The department shall adopt rules providing for retention schedules for mutual association records other than those records listed in subsection (1).   History: En. Sec. 83, Ch. 431, L. 2021.
MT Code § 32-2-952 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-952. Admissibility of copies in evidence -- exception when original available

  32-2-952. Admissibility of copies in evidence -- exception when original available. Any photostatic, photographic, or microfilm reproductions, including enlargements, of any original records or files of a mutual association, whether in the form of an entry or entries in a book or any other form of record, are admissible in evidence in any court of competent jurisdiction in proof of an act, transaction, occurrence, or event if shown to be made in the regular course of business of the mutual association. Nothing in 32-2-950 through 32-2-954 may be construed to authorize the use of secondary evidence in administrative or court proceedings if original records are in existence and available for use in accord with the rules of evidence.  History: En. Sec. 85, Ch. 431, L. 2021.
MT Code § 32-2-953 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-953. Destruction or reproduction

  32-2-953. Destruction or reproduction. Destruction in the regular course of business includes destruction at any time after making reproductions. Reproductions made in the regular course of business include reproductions made at any time prior to the destruction of the original, in each case, if done in good faith and without intent to defraud.  History: En. Sec. 86, Ch. 431, L. 2021.
MT Code § 32-2-954 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 2. Mutual Savings and Loan Associations|Part 9. Operation and Regulation|32-2-954. Application

  32-2-954. Application. The provisions of 32-2-950 through 32-2-954 are applicable to all records in existence on February 23, 1951, and to all records originating after that date and apply to all mutual associations organized under the laws of the state and to all federal savings associations located in the state, as far as applicable to the federal savings associations.  History: En. Sec. 87, Ch. 431, L. 2021.