reglab/housing_qa huggingface dataset:
MT Code § 32-1-302 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-302. Incorporation

  32-1-302. Incorporation. (1) The proposed articles of incorporation must be presented to the department, together with an application in writing in the form prescribed by the department, for a certificate authorizing the proposed corporation to transact the business specified in the articles of incorporation within this state.   (2) Upon the presentation of the proposed articles of incorporation, together with the application, the department shall ascertain whether the requisite capital of the bank, as required in 32-1-307, has been subscribed and been paid up in cash. The department shall also determine whether the corporation is being formed for any other purpose than the legitimate business contemplated by this chapter. The department shall determine whether the corporate name assumed by the bank, by reason of the use of any one or more of the words "commercial", "trust", "savings", or "investment" in conjunction with any other word or words, resembles so closely the name of any other bank previously formed under this chapter as to be likely to cause confusion.   (3) The expenses of the department and the board incurred in the examinations and hearings provided for in this chapter for the formation of new banks must be paid by the proposed bank through advance payment of a reasonable nonrefundable application fee which must be determined by the board by rule.   (4) All information gathered by the department under this section must be transmitted to the board for its use in conducting hearings on applications for certificates of authorization.   History: En. as part of Sec. 6, Ch. 89, L. 1927; re-en. Sec. 6014.10, R.C.M. 1935; amd. Sec. 2, Ch. 431, L. 1975; R.C.M. 1947, 5-202; amd. Sec. 1, Ch. 79, L. 1979; amd. Sec. 15, Ch. 395, L. 1993.
MT Code § 32-1-303 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-303. Board to refuse or approve application

  32-1-303. Board to refuse or approve application. The board may refuse or approve an application for a certificate of authorization in accordance with 32-1-202 through 32-1-206.   History: En. 5-202.1 by Sec. 3, Ch. 431, L. 1975; amd. Sec. 2, Ch. 71, L. 1977; R.C.M. 1947, 5-202.1.
MT Code § 32-1-304 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-304. Repealed

  32-1-304. Repealed. Sec. 2, Ch. 79, L. 1979.   History: En. Sec. 7, Ch. 89, L. 1927; re-en. Sec. 6014.11, R.C.M. 1935; amd. Sec. 170, Ch. 431, L. 1975; R.C.M. 1947, 5-205.
MT Code § 32-1-305 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-305. Repealed

  32-1-305. Repealed. Sec. 50, Ch. 395, L. 1993.   History: En. as part of Sec. 6, Ch. 89, L. 1927; re-en. Sec. 6014.10, R.C.M. 1935; amd. Sec. 4, Ch. 431, L. 1975; R.C.M. 1947, 5-203.
MT Code § 32-1-306 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-306. Repealed

  32-1-306. Repealed. Sec. 50, Ch. 395, L. 1993.   History: En. as part of Sec. 6, Ch. 89, L. 1927; re-en. Sec. 6014.10, R.C.M. 1935; R.C.M. 1947, 5-204.
MT Code § 32-1-307 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-307. Amount of capital

  32-1-307. Amount of capital. The division, in consultation with the board, shall determine the appropriate level of capitalization of the proposed corporation prior to the issuance of the certificate of authorization.   History: En. Sec. 8, Ch. 89, L. 1927; amd. Sec. 1, Ch. 81, L. 1935; re-en. Sec. 6014.12, R.C.M. 1935; amd. Sec. 1, Ch. 45, L. 1963; amd. Sec. 170, Ch. 431, L. 1975; R.C.M. 1947, 5-206; amd. Sec. 16, Ch. 395, L. 1993.
MT Code § 32-1-308 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-308. Bylaws

  32-1-308. Bylaws. The bylaws must be certified by a majority of the directors and the secretary of the corporation and recorded in the permanent records of the bank. Bylaws must be open to public inspection during office hours. A copy of the bylaws must also be transmitted to the department.   History: En. Sec. 13, Ch. 89, L. 1927; re-en. Sec. 6014.17, R.C.M. 1935; amd. Sec. 170, Ch. 431, L. 1975; R.C.M. 1947, 5-211; amd. Sec. 17, Ch. 395, L. 1993; amd. Sec. 15, Ch. 75, L. 2019.
MT Code § 32-1-309 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-309. through 32-1-320 reserved

  32-1-309 through 32-1-320 reserved.
MT Code § 32-1-321 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-321. Calling of first meeting -- cancellation of certificate

  32-1-321. Calling of first meeting -- cancellation of certificate. When the formation of the corporation is completed under the provisions of this chapter by the issuance of the certificate of incorporation by the secretary of state, any three such incorporators signing the articles of agreement may call the first meeting of the corporation at such time and place as they may appoint by giving notice thereof by publication in some newspaper of general circulation in the county in which the principal office for the transaction of business is to be located at least 5 days before the time appointed for such meeting. If all the subscribers to the capital stock unite in a call for such meeting, in writing, no notice is necessary. If the first meeting be not called within 30 days from the date of the certificate of incorporation or if such corporation shall fail to commence the business for which it is incorporated within 90 days from the date of the issuance of the certificate of authorization, the department is authorized to cancel such certificate of authorization.   History: En. Sec. 9, Ch. 89, L. 1927; re-en. Sec. 6014.13, R.C.M. 1935; amd. Sec. 170, Ch. 431, L. 1975; R.C.M. 1947, 5-207.
MT Code § 32-1-322 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-322. Board of directors -- qualifications, tenure, and vacancies

  32-1-322. Board of directors -- qualifications, tenure, and vacancies. (1) The affairs of the bank must be managed by a board of directors consisting of not less than three persons. At least two-thirds of the board must be residents of Montana. Directors need not be shareholders of the corporation unless required by the articles of incorporation or bylaws. A person who has been convicted of a crime against the banking laws of the United States or of any state may not be elected a director.   (2) The directors must be elected for a term of 1 year at the annual meeting of the stockholders. The annual meeting must be held before April 15 of each calendar year. If the election is not held on the day fixed for the annual meeting, the corporation is not dissolved, but an election may be held at any other time agreeable to the bylaws of the corporation, and the persons elected shall hold their office until successors are elected and qualified. Every director shall take and subscribe an oath that the director will diligently and honestly perform the director's duty in the office and that the director will not knowingly violate or permit a violation of any of the provisions of this chapter. The oaths must be made in duplicate; one copy must be transmitted to and filed with the department, and one copy must be kept on file in the office of the bank.   History: En. Sec. 10, Ch. 89, L. 1927; re-en. Sec. 6014.14, R.C.M. 1935; amd. Sec. 1, Ch. 78, L. 1957; amd. Sec. 5, Ch. 431, L. 1975; R.C.M. 1947, 5-208; amd. Sec. 1, Ch. 84, L. 1979; amd. Sec. 1, Ch. 341, L. 1981; amd. Sec. 1, Ch. 561, L. 1983; amd. Sec. 2, Ch. 179, L. 1985; amd. Sec. 1, Ch. 24, L. 1989; amd. Sec. 18, Ch. 395, L. 1993.
MT Code § 32-1-323 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-323. Repealed

  32-1-323. Repealed. Sec. 50, Ch. 395, L. 1993.   History: En. Sec. 23, Ch. 89, L. 1927; re-en. Sec. 6014.27, R.C.M. 1935; R.C.M. 1947, 5-502.
MT Code § 32-1-324 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-324. Repealed

  32-1-324. Repealed. Sec. 3, Ch. 24, L. 1989.   History: En. Sec. 11, Ch. 89, L. 1927; re-en. Sec. 6014.15, R.C.M. 1935; amd. Sec. 170, Ch. 431, L. 1975; R.C.M. 1947, 5-209; amd. Sec. 3, Ch. 179, L. 1985.
MT Code § 32-1-325 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-325. Selection of officers and employees -- minutes of meetings

  32-1-325. Selection of officers and employees -- minutes of meetings. (1) The board of directors of a bank must hold a meeting at least quarterly.   (2) The board of directors may elect a president, one or more vice-presidents, a cashier, one or more assistant cashiers, and other officers and employees that they may from time to time consider to be to the best interest of the bank and fix their compensation. The president must be chosen from the board of directors.   (3) The board of directors shall keep a correct report of the meetings of the board and of the stockholders. The minutes must disclose the dates of the meetings and the names of the directors or stockholders present. This record of the meetings of the board of directors must be signed, manually or electronically, by the presiding officer and the person responsible for preparing the minutes. The minutes must be read and approved at the following meeting of the board of directors, and the minutes of the following meeting must show that fact. The minutes must be available in the main office of the bank at all times and must be available to the department at the time of its examination of the books. A person who makes a material false entry in the record of the board meetings or who makes a material change or alteration of an entry made in the record is subject to removal pursuant to 32-1-468.   History: En. Sec. 12, Ch. 89, L. 1927; re-en. Sec. 6014.16, R.C.M. 1935; amd. Sec. 6, Ch. 431, L. 1975; R.C.M. 1947, 5-210; amd. Sec. 1, Ch. 264, L. 1983; amd. Sec. 4, Ch. 179, L. 1985; amd. Sec. 19, Ch. 395, L. 1993; amd. Sec. 16, Ch. 75, L. 2019.
MT Code § 32-1-326 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-326. through 32-1-330 reserved

  32-1-326 through 32-1-330 reserved.
MT Code § 32-1-331 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-331. Repealed

  32-1-331. Repealed. Sec. 50, Ch. 395, L. 1993.   History: En. Sec. 33, Ch. 89, L. 1927; re-en. Sec. 6014.37, R.C.M. 1935; R.C.M. 1947, 5-512.
MT Code § 32-1-332 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-332. Repealed

  32-1-332. Repealed. Sec. 50, Ch. 395, L. 1993.   History: En. Sec. 22, Ch. 89, L. 1927; re-en. Sec. 6014.26, R.C.M. 1935; R.C.M. 1947, 5-501.
MT Code § 32-1-333 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-333. Repealed

  32-1-333. Repealed. Sec. 50, Ch. 395, L. 1993.   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; R.C.M. 1947, 5-401.
MT Code § 32-1-334 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-334. Repealed

  32-1-334. Repealed. Sec. 50, Ch. 395, L. 1993.   History: En. Sec. 42, Ch. 89, L. 1927; re-en. Sec. 6014.46, R.C.M. 1935; R.C.M. 1947, 5-521.
MT Code § 32-1-335 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-335. Purchase or loan of own capital stock prohibited -- exception

  32-1-335. Purchase or loan of own capital stock prohibited -- exception. A bank may not purchase or invest its capital or surplus or money of its depositors, or any part of either, in shares of its own capital stock or loan its capital or surplus or the money of its depositors, or any part of either, on shares of its own capital stock unless the purchase or loan is necessary to prevent loss to the bank on debts previously contracted in good faith. However, a bank may redeem or otherwise purchase its own capital stock with the prior approval of the department and subject to any conditions that the department may require.   History: En. Sec. 36, Ch. 89, L. 1927; re-en. Sec. 6014.40, R.C.M. 1935; R.C.M. 1947, 5-515; amd. Sec. 2, Ch. 36, L. 2001; amd. Sec. 1, Ch. 105, L. 2003.
MT Code § 32-1-336 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-336. Repealed

  32-1-336. Repealed. Sec. 50, Ch. 395, L. 1993.   History: En. Sec. 1, Ch. 15, Ex. L. 1933; re-en. Sec. 6016.1, R.C.M. 1935; R.C.M. 1947, 5-1127.
MT Code § 32-1-337 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-337. Repealed

  32-1-337. Repealed. Sec. 50, Ch. 395, L. 1993.   History: En. Sec. 2, Ch. 15, Ex. L. 1933; re-en. Sec. 6016.2, R.C.M. 1935; R.C.M. 1947, 5-1128.
MT Code § 32-1-338 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-338. Repealed

  32-1-338. Repealed. Sec. 50, Ch. 395, L. 1993.   History: En. Sec. 3, Ch. 15, Ex. L. 1933; re-en. Sec. 6016.3, R.C.M. 1935; amd. Sec. 63, Ch. 431, L. 1975; R.C.M. 1947, 5-1129.
MT Code § 32-1-339 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-339. Right of examination by stockholder

  32-1-339. Right of examination by stockholder. A stockholder of a bank incorporated under the laws of this state who is not a director may not inspect the books and records of the bank showing its transactions with a customer. A stockholder may inspect the books and records of the bank as provided in Title 35, chapter 14, part 16.   History: En. Sec. 108, Ch. 89, L. 1927; re-en. Sec. 6014.119, R.C.M. 1935; R.C.M. 1947, 5-1035; amd. Sec. 20, Ch. 395, L. 1993; amd. Sec. 229, Ch. 271, L. 2019.
MT Code § 32-1-340 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-340. Conversion of surplus and undivided profits to capital stock

  32-1-340. Conversion of surplus and undivided profits to capital stock. (1) A bank having a surplus and undivided profits equal to or in excess of 50% of its capital stock may increase its capital stock by the issuance of new stock for a part of that surplus and undivided profits.   (2) The increase may be made by a vote of the stock, either at a regular annual stockholders' meeting or at a meeting called for that purpose in accordance with the bylaws of the corporation.   (3) All increases of capital stock made under this section must be accomplished in a manner conforming to the requirements of this chapter pertaining to surplus of banks when first incorporated.   (4) When a bank has voted to issue any stock as contemplated in this section, it shall certify that action to the department, which shall within 30 days approve or reject the plan. Departmental action is final, and written notice of the action must be given to the bank.   History: En. Sec. 97, Ch. 89, L. 1927; re-en. Sec. 6014.108, R.C.M. 1935; amd. Sec. 36, Ch. 431, L. 1975; R.C.M. 1947, 5-1024; amd. Sec. 21, Ch. 395, L. 1993.
MT Code § 32-1-341 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-341. through 32-1-350 reserved

  32-1-341 through 32-1-350 reserved.
MT Code § 32-1-351 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-351. Repealed

  32-1-351. Repealed. Sec. 50, Ch. 395, L. 1993.   History: En. Sec. 14, Ch. 89, L. 1927; re-en. Sec. 6014.18, R.C.M. 1935; R.C.M. 1947, 5-212.
MT Code § 32-1-352 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-352. Repealed

  32-1-352. Repealed. Sec. 50, Ch. 395, L. 1993.   History: En. Sec. 15, Ch. 89, L. 1927; re-en. Sec. 6014.19, R.C.M. 1935; R.C.M. 1947, 5-213.
MT Code § 32-1-353 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-353. Repealed

  32-1-353. Repealed. Sec. 50, Ch. 395, L. 1993.   History: En. Sec. 16, Ch. 89, L. 1927; re-en. Sec. 6014.20, R.C.M. 1935; amd. Sec. 7, Ch. 431, L. 1975; R.C.M. 1947, 5-214.
MT Code § 32-1-354 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-354. Repealed

  32-1-354. Repealed. Sec. 50, Ch. 395, L. 1993.   History: En. Sec. 17, Ch. 89, L. 1927; re-en. Sec. 6014.21, R.C.M. 1935; R.C.M. 1947, 5-215.
MT Code § 32-1-355 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-355. Repealed

  32-1-355. Repealed. Sec. 50, Ch. 395, L. 1993.   History: En. Sec. 18, Ch. 89, L. 1927; re-en. Sec. 6014.22, R.C.M. 1935; amd. Sec. 8, Ch. 431, L. 1975; R.C.M. 1947, 5-216.
MT Code § 32-1-356 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-356. Repealed

  32-1-356. Repealed. Sec. 50, Ch. 395, L. 1993.   History: En. Sec. 19, Ch. 89, L. 1927; amd. Sec. 1, Ch. 145, L. 1931; re-en. Sec. 6014.23, R.C.M. 1935; amd. Sec. 1, Ch. 131, L. 1937; amd. Sec. 2, Ch. 7, L. 1965; amd. Sec. 9, Ch. 431, L. 1975; R.C.M. 1947, 5-217; amd. Sec. 5, Ch. 179, L. 1985.
MT Code § 32-1-357 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-357. through 32-1-360 reserved

  32-1-357 through 32-1-360 reserved.
MT Code § 32-1-361 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-361. Change from state to national bank

  32-1-361. Change from state to national bank. (1) A bank may become a corporation for the purpose of carrying on the business of banking in this state, under the act of congress "to provide a national currency secured by a pledge of United States bonds and to provide for the circulation and redemption thereof", approved June 3, 1864, and under Title 52 of the Revised Statutes of the United States, when:   (a) stockholders owning two-thirds of the stock of the bank vote to become a national bank corporation or execute a written consent authorizing its directors to make the certificate required therefor by the laws of the United States; or   (b) a majority of the directors of the bank, authorized in their discretion to make the change, by a vote of the majority decide to become a national bank corporation.   (2) The cashier of the bank shall:   (a) publish notice of the change once a week for 4 consecutive weeks in the newspaper that the directors select;   (b) send a printed notice by mail or otherwise to all nonvoting or dissenting stockholders; and   (c) notify the department that the bank has decided to become a corporation under the laws of the United States.   History: En. Sec. 75, Ch. 89, L. 1927; re-en. Sec. 6014.86, R.C.M. 1935; amd. Sec. 32, Ch. 431, L. 1975; amd. Sec. 17, Ch. 71, L. 1977; R.C.M. 1947, 5-1002; amd. Sec. 22, Ch. 395, L. 1993.
MT Code § 32-1-362 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-362. National bank powers extended to state banks

  32-1-362. National bank powers extended to state banks. (1) A bank organized under the laws of this state may engage in any activity or business in which the bank could engage if it were operating as a national bank if the power or activity is not expressly prohibited or limited by the laws of this state and:   (a) if the power or activity is clearly authorized to national banks by federal statute, regulations, or interpretive ruling issued or adopted by a federal banking regulator having jurisdiction over national banks; and   (b) upon application to and approval by the department.   (2) The department may adopt rules to govern the application procedure under this section. The department shall act upon an application under this section within 15 days of receipt of the application. The department may, for good cause, extend the time period for processing an application under this section for an additional 15 days. If the department fails to act on the application within 15 days of receipt of the application and does not extend the time period for good cause, the bank may engage in the activity requested without the approval of the department.   History: En. Sec. 1, Ch. 119, L. 1973; R.C.M. 1947, 5-1002.1; amd. Sec. 1, Ch. 163, L. 1981; amd. Sec. 8, Ch. 117, L. 1997; amd. Sec. 3, Ch. 100, L. 1999; amd. Sec. 3, Ch. 36, L. 2001.
MT Code § 32-1-363 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 1. Banks and Trust Companies|Part 3. Formation and Reorganization|32-1-363. Surrender of charter by state bank

  32-1-363. Surrender of charter by state bank. (1) Any bank which will become a corporation for carrying on the business of banking under the laws of the United States shall cease to be a corporation under the laws of this state, except that for the term of 3 years thereafter its corporate existence shall be deemed to continue for the purposes of prosecuting and defending suits by and against it and of enabling it to close its concerns and to dispose of and convey its property.   (2) The members of the board of directors last in office, when such corporation shall have become a corporation under the laws of the United States, shall continue to be the board of directors of the corporation, with power to take all necessary measures to carry out and perfect such organization by signing the articles of association and the organization certificate and adopting such regulations as may be just and proper and not inconsistent with the acts of congress in relation thereto.   (3) Such change from a state to a national bank corporation shall not release any such bank from its obligations to pay and discharge all the liabilities created by law or incurred by it before becoming a national bank corporation or any tax imposed by the laws of this state up to the date of its becoming such national bank corporation, in proportion to the time which has elapsed since the next preceding payment thereof.   History: En. Sec. 76, Ch. 89, L. 1927; re-en. Sec. 6014.87, R.C.M. 1935; R.C.M. 1947, 5-1003.