reglab/housing_qa huggingface dataset:
MT Code § 32-3-204 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 2. Regulation|32-3-204. Records

  32-3-204. Records. (1) A credit union shall maintain all books, records, accounting systems, and procedures in accordance with rules that the department of administration prescribes. In prescribing rules, the department shall consider the relative size of a credit union and its reasonable capability of compliance.   (2) A credit union is not liable for destroying records after the expiration of the record retention time prescribed by the department.   (3) A photostatic or photographic copy or reproduction of any kind, including electronic or computer-generated data that has been electronically stored and is capable of being converted into written form, of any credit union records is admissible as evidence of transactions with the credit union.   History: En. 14-612 by Sec. 12, Ch. 38, L. 1975; R.C.M. 1947, 14-612; amd. Sec. 1, Ch. 25, L. 2001; amd. Sec. 221(1), Ch. 483, L. 2001; amd. Sec. 7, Ch. 237, L. 2003.
MT Code § 32-3-206 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 2. Regulation|32-3-206. Authorized activities of credit unions

  32-3-206. Authorized activities of credit unions. Upon written application to the department of administration, a credit union may engage in any activity in which a credit union could engage if it were operating as a federal chartered credit union at the time the authority is granted. The activities include but are not limited to the power to do any act and to own, possess, and carry as assets property including stocks, bonds, or other debentures that, at the time the authority is granted, are authorized under federal laws and regulations for transactions by federal credit unions and are not subject to any restrictions contained elsewhere in Montana law. However, the department may not charter a credit union not having a common bond of membership as defined in 32-3-304. The department shall approve an activity if it finds that the activity fosters competitive equality between state and federal credit unions and prevents adverse effects on members of state-chartered credit unions. If the department disapproves an activity, the credit union must be given an opportunity for a hearing pursuant to Title 2, chapter 4, part 6, to determine whether a compelling reason exists for denying approval of the activity for which the credit union applied.   History: En. 14-676 by Sec. 76, Ch. 38, L. 1975; R.C.M. 1947, 14-676; amd. Sec. 1, Ch. 522, L. 1985; amd. Sec. 12, Ch. 237, L. 2003.
MT Code § 32-3-207 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 2. Regulation|32-3-207. Confidentiality -- penalties

  32-3-207. Confidentiality -- penalties. (1) (a) Any report of examination issued under 32-3-203, any report made by a credit union under 32-3-202, and any other credit union documentation maintained by the department of administration, other than those reports that are required to be published, must be considered confidential information. Except as provided in subsection (1)(b), confidential information may not be imparted to persons who are not officially associated with the department, and the information contained in the reports and statements may be used by the department only in the furtherance of its official duties.   (b) The department may exchange information with federal credit union regulatory agencies, with a federal reserve bank, and with the financial regulatory departments of other states. The department may furnish reports of its examination findings under 32-3-203 to a federal home loan bank, as defined in the Federal Home Loan Bank Act of 1932, 12 U.S.C. 1422. The department may furnish information to the legislative auditor for use in pursuit of official duties. A prosecuting official may obtain the information by court order.   (2) Any knowledge or information gained or discovered by the department in pursuance of its powers or duties is confidential information of the department. The information may not, except as provided in subsection (1)(b), be imparted to any person not officially associated with the department. The information may be used by the department only in the furtherance of its official duties.   (3) An employee or agent of the department who violates this section or willfully makes a false official report as to the condition of a credit union is guilty of a felony and must be removed from office. Upon conviction, the person shall be fined an amount not exceeding $1,000, be imprisoned in a state correctional facility for a term not exceeding 5 years, or both.   History: En. Sec. 11, Ch. 237, L. 2003; amd. Sec. 2, Ch. 68, L. 2019.
MT Code § 32-3-208 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 2. Regulation|32-3-208. through 32-3-210 reserved

  32-3-208 through 32-3-210 reserved.
MT Code § 32-3-211 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 2. Regulation|32-3-211. Conservatorship

  32-3-211. Conservatorship. (1) In conjunction with a suspension order or if the department of administration's examination has been obstructed or impeded, the department may appoint itself or appoint any other competent person as conservator to immediately take possession and control of the business and assets of a credit union. The conservator, representing the best interest of the credit union members, must be vested with the full power of management of the credit union.   (2) Not later than 15 days after the date on which the conservator takes possession and control of the business and assets of a credit union pursuant to subsection (1), the credit union may apply to the appropriate court for an order requiring the department to show cause why the department or the designated conservator should not be enjoined from continuing possession and control.   (3) Except as provided in subsection (2), the conservator may maintain possession and control of the business and assets of the credit union and may operate the credit union until:   (a) the department permits the credit union's officials to continue business subject to any terms and conditions the department imposes; or   (b) the credit union is involuntarily merged or involuntarily liquidated in accordance with the provisions of 32-3-205.   (4) The department may appoint any agents considered necessary to assist the conservator in carrying out the duties of the conservator under this section.   (5) All expenses incurred by the conservator in exercising the authority of that office under this section with respect to a credit union must be paid out of the assets of the credit union, except that the department may waive all or a part of the expenses.   History: En. Sec. 9, Ch. 237, L. 2003.
MT Code § 32-3-212 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 2. Regulation|32-3-212. Involuntary merger

  32-3-212. Involuntary merger. The department of administration may initiate the involuntary merger of a credit union that is insolvent or in danger of insolvency with any other credit union or may authorize a credit union to purchase any of the assets of or assume any of the liabilities of any other credit union that is insolvent or in danger of insolvency if the department is satisfied that:   (1) an emergency requiring expeditious action exists with respect to a credit union that is insolvent or in danger of insolvency;   (2) other alternatives are not reasonably available; and   (3) the public interest would best be served by approval of the merger, purchase, or assumption.   History: En. Sec. 10, Ch. 237, L. 2003.
MT Code § 32-3-213 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 2. Regulation|32-3-213. and 32-3-214 reserved

  32-3-213 and 32-3-214 reserved.
MT Code § 32-3-215 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 2. Regulation|32-3-215. Out-of-state credit unions

  32-3-215. Out-of-state credit unions. (1) A credit union chartered under the laws of another state or territory of the United States may conduct business as a credit union in this state with the approval of the department of administration, provided that credit unions incorporated under this chapter are allowed to do business in the other state or territory under conditions similar to these provisions.   (2) Before granting approval to do business in this state, the department must find that an out-of-state credit union:   (a) is a credit union organized under laws similar to this chapter;   (b) is financially solvent;   (c) has account insurance comparable to that required for credit unions incorporated under this chapter;   (d) is examined and supervised by a regulatory agency of the state in which it is organized; and   (e) needs to conduct business in this state to adequately serve its members in this state.   (3) An out-of-state credit union may not conduct business in this state unless it:   (a) complies with the consumer protection statutes and rules applicable to credit unions incorporated under this chapter;   (b) agrees to furnish the department with a copy of the examination report conducted by its regulatory agency or to submit to an examination by the department; and   (c) designates and maintains an agent for the service of process in this state.   (4) The department may revoke the approval of an out-of-state credit union conducting business in this state if the department finds that:   (a) the credit union no longer meets the requirements of subsection (2);   (b) the credit union has violated the laws of this state or lawful rules or orders issued by the department;   (c) the credit union has engaged in a pattern of unsafe or unsound credit union practices;   (d) continued operation by the credit union is likely to have a substantially adverse impact on the financial, economic, or other interests of residents of this state; or   (e) the credit union is prohibited from operating in its own home state.   History: En. Sec. 2, Ch. 237, L. 2003.
MT Code § 32-3-216 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 2. Regulation|32-3-216. Conducting business outside this state

  32-3-216. Conducting business outside this state. (1) A credit union chartered under this chapter may conduct business outside of this state in other states or territories where it is permitted to conduct business as a credit union, under conditions substantially similar to the provisions of this chapter.   (2) If another state or territory's credit union laws or regulations allow credit unions operating in that state or territory to exercise additional powers not allowed in this state, the credit union conducting business outside this state may request permission from the department of administration to exercise those additional powers while operating in that state.   (3) Upon request for approval to exercise a power not allowed in this state, submitted by certified mail, return receipt requested, the department shall respond with a determination in not more than 60 days. For good cause shown within the 60-day period, the department may extend the response period for an additional 30 days. If a response is not received within 60 days or 90 days, as applicable, the requesting credit union may exercise the power.   History: En. Sec. 3, Ch. 237, L. 2003.
MT Code § 32-3-302 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 3. Organization, Membership, and Dissolution|32-3-302. Form of articles and bylaws

  32-3-302. Form of articles and bylaws. In order to simplify the organization of credit unions, the department of administration shall prepare a form of articles of incorporation and a form of bylaws, consistent with this chapter, that may be used by credit union incorporators for their guidance. The articles of incorporation and bylaws must be available without charge to persons desiring to organize a credit union.   History: En. 14-604 by Sec. 4, Ch. 38, L. 1975; R.C.M. 1947, 14-604; amd. Sec. 2, Ch. 274, L. 1981; amd. Sec. 88, Ch. 483, L. 2001; amd. Sec. 14, Ch. 237, L. 2003.
MT Code § 32-3-303 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 3. Organization, Membership, and Dissolution|32-3-303. Amendments

  32-3-303. Amendments. (1) The articles of incorporation or the bylaws may be amended as provided in the bylaws. Amendments to the articles of incorporation or bylaws must be submitted, by certified mail, return receipt requested, to the department of administration, which shall approve or disapprove the amendments within 60 days.   (2) Amendments become effective upon:   (a) approval in writing by the department, for which a fee may not be charged; and   (b) in the case of articles of incorporation, filing with the secretary of state.   (3) If the department does not approve or disapprove the amendments within the 60-day period, the amendments must be considered approved, except that the department may extend the approval period for an additional 30 days for good cause as stated in a written notice given to the credit union within the original 60-day period.   History: En. 14-605 by Sec. 5, Ch. 38, L. 1975; amd. Sec. 32, Ch. 71, L. 1977; R.C.M. 1947, 14-605; amd. Sec. 2, Ch. 274, L. 1981; amd. Sec. 89, Ch. 483, L. 2001; amd. Sec. 15, Ch. 237, L. 2003.
MT Code § 32-3-304 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 3. Organization, Membership, and Dissolution|32-3-304. Membership defined

  32-3-304. Membership defined. (1) The membership of a credit union shall be limited to and consist of the subscribers to the articles of incorporation and such other persons within the common bond set forth in the bylaws as have been duly admitted members, have paid the required entrance fee or membership fee, or both, have subscribed for one or more shares and have paid the initial installment thereon, and have complied with such other requirements as the articles of incorporation or bylaws specify.   (2) Credit union membership may include groups having a common bond of similar occupation, association, or interests or groups within a well-defined neighborhood, community, or rural district or employees of a common employer and members of the immediate family of such persons.   History: En. 14-615 by Sec. 15, Ch. 38, L. 1975; R.C.M. 1947, 14-615; amd. Sec. 1, Ch. 107, L. 1981.
MT Code § 32-3-305 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 3. Organization, Membership, and Dissolution|32-3-305. Societies -- associations

  32-3-305. Societies -- associations. (1) Societies and partnerships composed primarily of individuals who are eligible for membership and corporations whose stockholders are composed primarily of such individuals may be admitted to membership in the same manner and under the same conditions as individuals.   (2) No loan may be made to any member society, partnership, or corporation in an aggregate amount that is in excess of 5% of the credit union's shares and retained earnings. Total loans to member societies, partnerships, and corporations is limited to an aggregate amount of 15% of the credit union's shares and retained earnings.   History: En. 14-616 by Sec. 16, Ch. 38, L. 1975; R.C.M. 1947, 14-616; amd. Sec. 2, Ch. 522, L. 1985.
MT Code § 32-3-306 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 3. Organization, Membership, and Dissolution|32-3-306. Other credit unions

  32-3-306. Other credit unions. Any credit union organized under this chapter may permit membership of any other credit union organized under this chapter or other laws.   History: En. 14-617 by Sec. 17, Ch. 38, L. 1975; R.C.M. 1947, 14-617.
MT Code § 32-3-307 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 3. Organization, Membership, and Dissolution|32-3-307. Limited-income persons

  32-3-307. Limited-income persons. Existing credit unions may include within their field of membership limited-income persons, as defined by the department of administration, for whom credit union services are otherwise unavailable.   History: En. 14-618 by Sec. 18, Ch. 38, L. 1975; R.C.M. 1947, 14-618; amd. Sec. 2, Ch. 274, L. 1981; amd. Sec. 90, Ch. 483, L. 2001; amd. Sec. 16, Ch. 237, L. 2003.
MT Code § 32-3-308 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 3. Organization, Membership, and Dissolution|32-3-308. Members who leave field

  32-3-308. Members who leave field. Members who leave the field of membership may be permitted to retain their membership in the credit union as a matter of general policy of the board of directors.   History: En. 14-619 by Sec. 19, Ch. 38, L. 1975; R.C.M. 1947, 14-619.
MT Code § 32-3-309 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 3. Organization, Membership, and Dissolution|32-3-309. Liability of members

  32-3-309. Liability of members. The members of the credit union shall not be personally or individually liable for the payment of its debts.   History: En. 14-620 by Sec. 20, Ch. 38, L. 1975; R.C.M. 1947, 14-620.
MT Code § 32-3-310 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 3. Organization, Membership, and Dissolution|32-3-310. Meetings of members

  32-3-310. Meetings of members. (1) The annual meeting and any special meetings of the members of the credit union must be held at the time, place, and in the manner indicated by the bylaws.   (2) At all meetings a member has only one vote, irrespective of the member's shareholdings. A member may not vote by proxy, but a member may vote by absentee ballot or mail ballot if the bylaws of the credit union so provide.   (3) A society, association, partnership, or corporation having membership in the credit union may be represented and have its vote cast by one of its members or shareholders, provided that the person has been fully authorized by the organization's governing body.   (4) The board of directors may establish a minimum age, not greater than 18 years of age, as a qualification of eligibility to vote at meetings of the members or to hold office, or both.   History: En. 14-621 by Sec. 21, Ch. 38, L. 1975; R.C.M. 1947, 14-621; amd. Sec. 17, Ch. 237, L. 2003.
MT Code § 32-3-311 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 3. Organization, Membership, and Dissolution|32-3-311. through 32-3-320 reserved

  32-3-311 through 32-3-320 reserved.
MT Code § 32-3-322 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 3. Organization, Membership, and Dissolution|32-3-322. Merger

  32-3-322. Merger. (1) Any credit union may, with the approval of the department of administration, merge with another credit union under the existing charter of the other credit union, pursuant to any plan agreed upon by the majority of the board of directors of each credit union joining in the merger and approved by the affirmative vote of a majority of the voting members of the merging credit union.   (2) After agreement by each board of directors and approval by the members of the merging credit union, the president and secretary of the credit union shall execute a certificate of merger, which must set forth all of the following:   (a) the time and place of the meeting of each board of directors at which the plan was agreed upon;   (b) the vote in favor of the adoption of the plan;   (c) a copy of the resolution or other action by which the plan was agreed upon;   (d) the time and place of the meeting of the members at which the plan agreed upon was approved; and   (e) the vote by which the plan was approved by the members.   (3) The certificate and a copy of the agreed-upon plan of merger must be forwarded to the department, certified by the department, and returned to both credit unions within 30 days. A copy of the certificate of merger, the certified plan, and the articles of merger must be filed with the secretary of state by the surviving credit union.   (4) Upon return of the certificate from the department, all property rights and members' interest of the merged credit union vest in the surviving credit union without deed, endorsement, or other instrument of transfer, and all debts, obligations, and liabilities of the merged credit union are considered to have been assumed by the surviving credit union under whose charter the merger was effected. The rights and privileges of the members of the merged credit union remain intact.   (5) This section must be construed, whenever possible, to permit a credit union chartered under any other law to merge with one chartered under this chapter or to permit one chartered under this chapter to merge with one chartered under any other law.   History: En. 14-666 by Sec. 66, Ch. 38, L. 1975; R.C.M. 1947, 14-666; amd. Sec. 2, Ch. 274, L. 1981; amd. Sec. 92, Ch. 483, L. 2001; amd. Sec. 19, Ch. 237, L. 2003; amd. Sec. 4, Ch. 317, L. 2015.
MT Code § 32-3-323 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 3. Organization, Membership, and Dissolution|32-3-323. Conversion of charter

  32-3-323. Conversion of charter. (1) A credit union chartered under the laws of this state may be converted to a credit union chartered under the laws of any other state or under the laws of the United States, subject to regulations issued by the department of administration.   (2) A credit union chartered under the laws of the United States or of any other state may convert to a credit union chartered under the laws of this state. To effect a conversion, a credit union shall comply with all the requirements of the jurisdiction under which it was originally chartered and the requirements of the department and file proof of compliance with the department.   History: En. 14-667 by Sec. 67, Ch. 38, L. 1975; R.C.M. 1947, 14-667; amd. Sec. 2, Ch. 274, L. 1981; amd. Sec. 93, Ch. 483, L. 2001; amd. Sec. 20, Ch. 237, L. 2003.
MT Code § 32-3-402 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 3. Credit Unions|Part 4. Operation and Officers|32-3-402. Incidental powers

  32-3-402. Incidental powers. A credit union may exercise such incidental powers as are granted corporations organized under the laws of this state, including those that are necessary to enable it to promote and carry on most effectively its purposes.   History: En. 14-614 by Sec. 14, Ch. 38, L. 1975; R.C.M. 1947, 14-614.