reglab/statecodes huggingface dataset:
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-132. Block of information on credit report

31-3-132. Block of information on credit report.
(1) Within 30 days after a consumer reporting agency receives from a consumer a complaint of identity theft and documentation as provided in subsection (2), the consumer reporting agency shall permanently block any information that the consumer identifies from the consumer's report that resulted from identity theft as defined in 45-6-332.
(2) To request a block of information on a consumer report, a consumer shall provide a consumer reporting agency with:
(a) a copy of a police report or an identity theft passport as provided in 46-24-220;
(b) the specific description of information that is to be blocked because it was a result of a violation of 45-6-332.
(3) A consumer reporting agency shall notify the person furnishing the information that a police report has been filed and that a block has been requested and shall notify the person of the effective date of the block.
(4) A consumer reporting agency may decline to block information or may rescind any block of information if, in the exercise of good faith and reasonable judgment, the consumer reporting agency believes that:
(a) the information was blocked because of a misrepresentation of fact by the consumer in requesting the block under this section;
(b) the consumer agrees that the blocked information or portions of the blocked information were blocked in error; or
(c) the consumer knowingly obtained possession of goods, services, or money as a result of the transaction for which information was blocked or the consumer should have known that possession of goods, services, or money occurred because of the transaction for which information was blocked.
(5) If a consumer reporting agency declines to block information or rescinds a blocking of information under this section, the consumer reporting agency shall notify the consumer promptly in the same manner as required in 15 U.S.C. 1681i. The prior presence of the blocked information in the consumer reporting agency's file on the consumer is not evidence of whether the consumer knew or should have known that the consumer obtained possession of any goods, services, or money.
(6) In order to facilitate a consumer's right to block information as provided in subsection (1), a law enforcement agency shall provide to the consumer at the consumer's request a copy of a police report filed by the consumer that indicates that the consumer is a victim under 45-6-332.
History: En. Sec. 3, Ch. 195, L. 2007.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-141. Actions available to consumer

31-3-141. Actions available to consumer.
(1) A consumer may bring action in the nature of defamation, invasion of privacy, or negligence with respect to the reporting of information against any person who fails to comply with this part.
(2) A person who fails to delete information or incorporate into a report a consumer's statement of dispute because the person judges the dispute to be frivolous or irrelevant is liable to suit.
(3) A person, other than the department of public health and human services under 40-5-261, who furnishes information to a consumer reporting agency that is false or a person who furnishes the information with malice or willful intent to injure the concerned consumer is liable to suit.
(4) A consumer who disputes the result of a reinvestigation conducted under 31-3-124 of the accuracy of information provided by the department of public health and human services may petition for an administrative hearing pursuant to 40-5-261.
History: En. 18-516 by Sec. 16, Ch. 547, L. 1975; R.C.M. 1947, 18-516; amd. Sec. 1, Ch. 418, L. 1989; amd. Sec. 35, Ch. 16, L. 1991; amd. Sec. 82, Ch. 546, L. 1995.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-142. Civil liability for willful noncompliance

31-3-142. Civil liability for willful noncompliance.
Any consumer reporting agency or user of information which willfully fails to comply with any requirement imposed under this part with respect to any consumer is liable to that consumer in an amount equal to the sum of:
(1) any actual damages sustained by the consumer as a result of the failure;
(2) such amounts of punitive damages as the court may allow; and
(3) in the case of any successful action to enforce any liability under this section, the costs of the action together with reasonable attorneys' fees as determined by the court.
History: En. 18-517 by Sec. 17, Ch. 547, L. 1975; R.C.M. 1947, 18-517.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-143. Civil liability for negligent noncompliance

31-3-143. Civil liability for negligent noncompliance.
Any consumer reporting agency or user of information which is negligent in failing to comply with any requirement imposed under this part with respect to any consumer is liable to that consumer in an amount equal to the sum of:
(1) any actual damages sustained by the consumer as a result of the failure;
(2) in the case of any successful action to enforce any liability under this section, the costs of the action together with reasonable attorneys' fees as determined by the court.
History: En. 18-518 by Sec. 18, Ch. 547, L. 1975; R.C.M. 1947, 18-518.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-151. Jurisdiction -- venue

31-3-151. Jurisdiction -- venue.
A consumer may bring suit in any district court in Montana, except that disputes concerning information provided under 40-5-261 are subject to administrative and judicial review as provided in 40-5-261.
History: En. 18-519 by Sec. 19, Ch. 547, L. 1975; R.C.M. 1947, 18-519; amd. Sec. 2, Ch. 418, L. 1989.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-152. Rules

31-3-152. Rules.
The department of administration shall enforce this part and adopt rules necessary to carry out the intent of this part.
History: En. 18-520 by Sec. 20, Ch. 547, L. 1975; R.C.M. 1947, 18-520; amd. Sec. 2, Ch. 274, L. 1981; amd. Sec. 2, Ch. 543, L. 1985; amd. Sec. 3, Ch. 418, L. 1989; amd. Sec. 73, Ch. 483, L. 2001.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-153. Violation

31-3-153. Violation.
For the purposes of this part, a violation of this law would be in violation of Title 30, chapter 14, part 1.
History: En. 18-521 by Sec. 21, Ch. 547, L. 1975; R.C.M. 1947, 18-521.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 2. Debt Adjusting (Repealed) › 31-3-201. Repealed

31-3-201. Repealed.
Sec. 10, Ch. 272, L. 2005.
History: En. Sec. 1, Ch. 300, L. 1969; R.C.M. 1947, 18-401.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 2. Debt Adjusting (Repealed) › 31-3-202. Repealed

31-3-202. Repealed.
Sec. 10, Ch. 272, L. 2005.
History: En. Sec. 2, Ch. 300, L. 1969; R.C.M. 1947, 18-402.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 2. Debt Adjusting (Repealed) › 31-3-203. Repealed

31-3-203. Repealed.
Sec. 10, Ch. 272, L. 2005.
History: En. Sec. 3, Ch. 300, L. 1969; amd. Sec. 2, Ch. 185, L. 1977; R.C.M. 1947, 18-403; amd. Sec. 1, Ch. 295, L. 1989; amd. Sec. 74, Ch. 483, L. 2001.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 4. Litigation Financing › Part 1. Litigation Financing Transparency andConsumer Protection Act › 31-4-101. Short title

31-4-101. (Effective January 1, 2024) Short title.
This part may be cited as the "Litigation Financing Transparency and Consumer Protection Act".
History: En. Sec. 1, Ch. 360, L. 2023.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 4. Litigation Financing › Part 1. Litigation Financing Transparency andConsumer Protection Act › 31-4-104. Litigation financing protections

31-4-104. (Effective January 1, 2024) Litigation financing protections.
(1) A litigation financer may not:
(a) pay or offer commissions, referral fees, rebates, or other forms of consideration to any person in exchange for referring a consumer to a litigation financer;
(b) accept any commissions, referral fees, rebates, or other forms of consideration from any person providing any goods or rendering any services to the consumer;
(c) charge a rate of interest that exceeds that rate of interest allowed under 31-1-107;
(d) receive or recover any payment that exceeds 25% of the amount of any judgment, award, settlement, verdict, or other form of monetary relief obtained in the civil action, administrative proceeding, claim, or cause of action that is the subject of the litigation contract;
(e) advertise false or misleading information regarding its products or services;
(f) refer or require any consumer to hire or engage any person providing any goods or rendering any services to the consumer;
(g) fail to promptly deliver a fully completed and signed litigation financing contract to the consumer and the consumer's legal representative;
(h) attempt to secure a remedy or obtain a waiver of any remedy, including but not limited to compensatory, statutory, or punitive damages, that the consumer may or may not be entitled to pursue or recover otherwise;
(i) offer or provide legal advice to the consumer;
(j) assign, including securitizing, a litigation financing contract in whole or in part;
(k) report a consumer to a credit reporting agency if insufficient funds remain to repay the litigation financer in full from the proceeds received from any judgment, award, settlement, verdict, or other form of monetary relief obtained in the civil action, administrative proceeding, claim, or cause of action that is the subject of the litigation financing contract; and
(l) demand, request, receive, or exercise any right to influence, affect, or otherwise make any decision in the handling, conduct, administration, litigation, settlement, or resolution of any civil action, administrative proceeding, claim, or cause of action in which the litigation financer has provided litigation financing. All rights remain solely with the consumer and the consumer's legal representative.
(2) A person who provides any goods or renders any services to the consumer may not have a financial interest in litigation financing and may not receive any commissions, referral fees, rebates, or other forms of consideration from any litigation financer or the litigation financer's employees, owners, or affiliates.
History: En. Sec. 4, Ch. 360, L. 2023.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 4. Litigation Financing › Part 1. Litigation Financing Transparency andConsumer Protection Act › 31-4-108. Disclosure and discovery of litigation financing contracts

31-4-108. (Effective January 1, 2024) Disclosure and discovery of litigation financing contracts.
(1) Except as otherwise stipulated or ordered by a court of competent jurisdiction, a consumer or the consumer's legal representative shall, without awaiting a discovery request, disclose and deliver to the following persons the litigation financing contract:
(a) each party to the civil action, administrative proceeding, claim, or cause of action, or to each party's legal representative;
(b) the court, agency, or tribunal in which the civil action, administrative proceeding, claim, or cause of action may be pending; and
(c) any known person, including an insurer, with a preexisting contractual obligation to indemnify or defend a party to the civil action, administrative proceeding, claim, or cause of action.
(2) The disclosure obligation under subsection (1) exists regardless of whether a civil action or an administrative proceeding has commenced.
(3) The disclosure obligation under subsection (1) is a continuing obligation, and within 30 days of entering into a litigation financing contract or amending an existing litigation financing contract, the consumer or the consumer's legal representative shall disclose and deliver any new or amended litigation financing contracts.
(4) The existence of the litigation financing contract and all participants or parties to a litigation financing contract are permissible subjects of discovery in any civil action, administrative proceeding, claim, or cause of action to which litigation financing is provided under the litigation financing contract, regardless of whether a civil action or an administrative proceeding has commenced.
History: En. Sec. 6, Ch. 360, L. 2023.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 4. Litigation Financing › Part 1. Litigation Financing Transparency andConsumer Protection Act › 31-4-112. Class actions

31-4-112. (Effective January 1, 2024) Class actions.
This part applies to any civil action filed or certified as a class action in which litigation financing is provided. A litigation financer owes a fiduciary duty to all class members or intended beneficiaries of a certified class and shall act in a manner consistent with the litigation financer's fiduciary duty throughout the civil action. In addition to the disclosure requirements set forth in this part, the legal representative of the putative class shall disclose to all parties, putative class members, and the court any legal, financial, or other relationship between the legal representative and the litigation financer. A class member is entitled to receive from the class counsel a true and correct copy of the litigation financing contract on request.
History: En. Sec. 8, Ch. 360, L. 2023.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 4. Litigation Financing › Part 1. Litigation Financing Transparency andConsumer Protection Act › 31-4-118. Exemptions

31-4-118. (Effective January 1, 2024) Exemptions.
This part does not apply to the following:
(1) a nonprofit entity that provides litigation financing, directly or indirectly, for the benefit of the nonprofit or one or more of its members without receiving, in consideration for the litigation financing:
(a) the payment of interest, fees, or other consideration; or
(b) except for in-house counsel of the nonprofit, any right to recovery or payment from the amount of any judgment, award, settlement, verdict, or other form of monetary relief obtained in the civil action, administrative proceeding, claim, or cause of action;
(2) any litigation financing provided by an entity engaged in commerce or business activity, but only if the entity does not:
(a) charge or collect any interest, fees, or other consideration;
(b) retain or receive any financial interest in the outcome of the civil action, administrative proceeding, claim, or cause of action; or
(c) receive any right to recovery or payment from the amount of any judgment, award, settlement, verdict, or other form of monetary relief obtained in the civil action, administrative proceeding, claim, or cause of action; or
(3) a regulated lender that does not receive, in consideration for loaning money to any person, a right to receive payment from the value of any proceeds or other consideration realized from any judgment award, settlement, verdict, or other form of monetary relief any person may receive or recover in relation to any civil action, administrative proceeding, claim, or cause of action.
History: En. Sec. 7, Ch. 360, L. 2023.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 4. Litigation Financing › Part 1. Litigation Financing Transparency andConsumer Protection Act › 31-4-119. Act violation -- unenforceable contract

31-4-119. (Effective January 1, 2024) Act violation -- unenforceable contract.
(1) Any violation of this part by the litigation financer renders the litigation financing contract unenforceable by the litigation financer or any successor-in-interest to the litigation financing contract.
(2) If a litigation financer charges a rate of interest that exceeds the rate of interest allowed under 31-1-107, the litigation financer shall be subject to a penalty for usury and an action to recover excessive interest as authorized under 31-1-108.
History: En. Sec. 11, Ch. 360, L. 2023.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 4. Litigation Financing › Part 1. Litigation Financing Transparency andConsumer Protection Act › 31-4-120. Joint and several liability for costs

31-4-120. (Effective January 1, 2024) Joint and several liability for costs.
A litigation financer is jointly and severally liable for any award or order imposing or assessing costs or monetary sanctions against a consumer arising from or relating to any civil action, administrative proceeding, claim, or cause of action for which the litigation financer is providing litigation financing.
History: En. Sec. 9, Ch. 360, L. 2023.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 4. Litigation Financing › Part 1. Litigation Financing Transparency andConsumer Protection Act › 31-4-125. Regulatory oversight -- rulemaking

31-4-125. (Effective January 1, 2024) Regulatory oversight -- rulemaking.
The secretary of state is authorized to adopt rules and other policies in overseeing the practice of litigation financing consistent with this part.
History: En. Sec. 10, Ch. 360, L. 2023.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 1. General Provisions -- Definitions › 32-1-101. Short title -- application -- purpose

32-1-101. Short title -- application -- purpose.
(1) Parts 1 through 5 of this chapter may be known as the "Bank Act".
(2) The Bank Act is applicable to:
(a) all corporations and persons specified in 32-1-102;
(b) corporations that subject themselves to the Bank Act; and
(c) persons, partnerships, or corporations who by violating the Bank Act become subject to the penalties provided in the Bank Act.
(3) (a) The purpose of the Bank Act is to provide Montana with a sound system of state-chartered banks by providing for and encouraging the development of state-chartered banks while restricting their activities to the extent necessary to protect the interests of depositors. The purpose includes:
(i) the sound conduct of the business of banks;
(ii) the conservation of bank assets;
(iii) the maintenance of adequate reserves against deposits;
(iv) the opportunity for banks to compete with other businesses, including but not limited to other financial organizations existing under the laws of this state, other states, the United States, and foreign countries;
(v) the opportunity for banks to serve the citizens of this state;
(vi) the opportunity for banks to participate in and promote the economic progress of Montana and the United States;
(vii) the opportunity for the management of banks to exercise business judgment in conducting the affairs of their institutions; and
(viii) modernization and simplification of the law governing banking by providing that banks have all the rights and powers granted corporations, except as otherwise provided in this chapter.
(b) The Bank Act does not restrict the activities of banks for the purpose of protecting any person from competition from banks and does not confer any right or cause of action upon any competitor.
(c) The purpose contained in this subsection (3) constitutes the standards to be observed by the commissioner of banking and financial institutions in the exercise of authority under the Bank Act and provides guidelines in the construction and application of the Bank Act.
History: En. Sec. 1, Ch. 89, L. 1927; re-en. Sec. 6014.1, R.C.M. 1935; R.C.M. 1947, 5-101; amd. Sec. 4, Ch. 395, L. 1993; amd. Sec. 74, Ch. 382, L. 1997; amd. Sec. 10, Ch. 163, L. 2005.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 1. General Provisions -- Definitions › 32-1-102. Institutions to which chapter is applicable

32-1-102. Institutions to which chapter is applicable.
(1) The word "bank" as used in this chapter means any corporation that has been incorporated to conduct the business of receiving money on deposit or transacting a trust or investment business, as defined in this chapter.
(2) The soliciting, receiving, or accepting of money or its equivalent on deposit as a regular business is doing a commercial or savings bank business, whether the deposit is made subject to check or is evidenced by a certificate of deposit, a passbook, a note, or other receipt. This section does not apply to or include money or its equivalent left in escrow or left with an agent pending investment in real estate or securities for or on account of the agent's principal.
(3) It is unlawful for any corporation, partnership, firm, or individual to engage in or transact a banking business within this state except by means of a corporation duly organized for that purpose.
(4) Banks are divided into the following classes:
(a) commercial banks;
(b) savings banks;
(c) trust companies;
(d) investment companies.
(5) This chapter does not apply to:
(a) any investment company or corporation established prior to March 8, 1927, under authority of the law of Montana not accepting, receiving, or holding money on deposit;
(b) a student financial institution, as defined in 32-1-115; or
(c) a nonprofit corporation that serves as trustee of one or more trusts in which it is expressly designated under the terms of the trust as having a present or future beneficial interest, vested or contingent.
History: En. Sec. 2, Ch. 89, L. 1927; re-en. Sec. 6014.2, R.C.M. 1935; amd. Sec. 1, Ch. 71, L. 1977; R.C.M. 1947, 5-102; amd. Sec. 75, Ch. 382, L. 1997; amd. Sec. 3, Ch. 340, L. 2003; amd. Sec. 11, Ch. 163, L. 2005; amd. Sec. 143, Ch. 264, L. 2013.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 1. General Provisions -- Definitions › 32-1-103. Repealed

32-1-103. Repealed.
Sec. 4, Ch. 15, L. 2005.
History: En. Sec. 31, Ch. 89, L. 1927; re-en. Sec. 6014.35, R.C.M. 1935; amd. Sec. 170, Ch. 431, L. 1975; R.C.M. 1947, 5-510.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 1. General Provisions -- Definitions › 32-1-104. Number of persons necessary to form corporation

32-1-104. Number of persons necessary to form corporation.
Corporations may be formed by any number of natural persons or by a corporation or other entity authorized to own or control banks and organized under the laws of this state to conduct, as provided in this chapter, the businesses mentioned in 32-1-102.
History: En. Sec. 3, Ch. 89, L. 1927; re-en. Sec. 6014.3, R.C.M. 1935; R.C.M. 1947, 5-103; amd. Sec. 1, Ch. 117, L. 1997.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 1. General Provisions -- Definitions › 32-1-105. Commercial bank defined

32-1-105. Commercial bank defined.
The term "commercial bank" means any bank authorized by law to:
(1) receive deposits of money;
(2) deal in commercial paper or make loans on commercial paper;
(3) lend money on real or personal property;
(4) engage in business activities directly or indirectly through affiliates or subsidiaries;
(5) discount bills, notes, or other commercial papers; and
(6) buy and sell securities, gold and silver bullion, foreign coins, or bills of exchange.
History: En. Subd. a, Sec. 4, Ch. 89, L. 1927; re-en. Sec. 6014.4, R.C.M. 1935; R.C.M. 1947, 5-104; amd. Sec. 1, Ch. 129, L. 1981; amd. Sec. 1, Ch. 100, L. 1999.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 1. General Provisions -- Definitions › 32-1-106. Savings bank defined

32-1-106. Savings bank defined.
The term "savings bank" means a bank organized only for the purpose of accumulating and loaning the funds of its members, stockholders, and depositors and which may:
(1) loan and invest the funds thereof;
(2) receive deposits of money; loan, invest, and collect the same with interest; and repay depositors with or without interest;
(3) sell credit life and disability insurance on loans to its borrowers;
(4) invest said funds and moneys in such property, securities, and obligations as may be prescribed by this chapter; and
(5) declare and pay:
(a) dividends on its general deposits; and
(b) a stipulated rate of interest on deposits made for a stated period or upon special terms.
History: En. Subd. b, Sec. 4, Ch. 89, L. 1927; re-en. Sec. 6014.5, R.C.M. 1935; R.C.M. 1947, 5-105; amd. Sec. 2, Ch. 129, L. 1981.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 1. General Provisions -- Definitions › 32-1-108. Investment company defined -- purposes for which may be formed

32-1-108. Investment company defined -- purposes for which may be formed.
The term "investment company" means any corporation which is incorporated under the laws of this state for any one or more of the following purposes:
(1) to receive moneys in trust and to accumulate the same at such rates of interest as may be obtained or agreed upon or to allow such interest as may be agreed upon and to issue and sell its contracts or certificates of indebtedness, directly or through an agent or broker, bearing fixed rates of interest, in whole or in part, with participation or nonparticipation in the profits of the corporation and maturing at fixed periods of time, or otherwise, as may be fully set forth in said contracts or certificates;
(2) to buy and sell government, state, county, municipal, and other bonds and all kinds of negotiable and nonnegotiable and commercial paper, stocks, and other investment securities;
(3) to accept, receive, and hold money on deposit, payable either on time or on demand, with or without interest, as may be agreed upon with depositors, and to collect coupons, interest, and dividends on securities described in (2).
History: En. Subd. d, Sec. 4, Ch. 89, L. 1927; re-en. Sec. 6014.7, R.C.M. 1935; R.C.M. 1947, 5-107.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 1. General Provisions -- Definitions › 32-1-110. Punishment

32-1-110. Punishment.
When no other punishment is provided, a person willfully or knowingly violating parts 1 through 5 of this chapter is guilty of a misdemeanor. Upon information furnished by the department, the attorney general shall sue to enforce parts 1 through 5 of this chapter.
History: En. Sec. 143, Ch. 89, L. 1927; re-en. Sec. 6014.153, R.C.M. 1935; amd. Sec. 61, Ch. 431, L. 1975; R.C.M. 1947, 5-1123.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 1. General Provisions -- Definitions › 32-1-111. Attachments prohibited

32-1-111. Attachments prohibited.
No property owned by any bank organized under the laws of the state of Montana shall be subject to attachment.
History: En. Sec. 96, Ch. 89, L. 1927; re-en. Sec. 6014.107, R.C.M. 1935; R.C.M. 1947, 5-1023.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 1. General Provisions -- Definitions › 32-1-112. Applicability of corporation law

32-1-112. Applicability of corporation law.
(1) Except as provided in subsection (2), the provisions of Title 35, chapter 14, apply to banks unless a section in this title or a rule or order issued under this chapter is inconsistent with Title 35, chapter 14.
(2) The provisions of 35-14-301, 35-14-302(4) through (10), 35-14-401(1), 35-14-621(2), Title 35, chapter 14, part 14, and 35-14-1601 do not apply to banks.
History: En. Sec. 13, Ch. 395, L. 1993; amd. Sec. 5, Ch. 71, L. 2005; amd. Sec. 227, Ch. 271, L. 2019; amd. Sec. 10, Ch. 23, L. 2023.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 1. General Provisions -- Definitions › 32-1-115. Student financial institution defined -- obligations of minor -- applicability of laws

32-1-115. Student financial institution defined -- obligations of minor -- applicability of laws.
(1) The term "student financial institution" means a financial institution that:
(a) is located at a school or a location where educational services are provided;
(b) is operated as a financial literacy educational program;
(c) is operated by one or more state-chartered or federally chartered financial institutions, limited to a state or national bank, a state or federal savings and loan association, a trust company, an investment company, or a state or federal credit union;
(d) does not provide services to the general public; and
(e) conducts each program in a manner consistent with safe and sound banking practices and compliant with state law.
(2) To operate a student financial institution, a state-chartered bank, savings and loan association, trust company, investment company, or credit union shall provide written notice to the department.
(3) Establishing a student financial institution does not require a branch application.
(4) With regard to the operation of a student financial institution, the obligations of a minor pertaining to borrowing money, cashing checks, and making deposits have the same force and effect as though they were the obligations of a person over the age of majority.
(5) The provisions of 32-1-102, 32-1-402, 32-3-106, and this section apply to a student financial institution established pursuant to this section, but other provisions of Title 32, chapters 1 through 3, or any other provision of state law that regulates banks, credit unions, other financial institutions, or currency exchanges do not apply.
History: En. Sec. 1, Ch. 340, L. 2003; amd. Sec. 8, Ch. 75, L. 2019.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-201. Repealed

32-1-201. Repealed.
Sec. 28, Ch. 23, L. 2023.
History: En. Sec. 3, Ch. 420, L. 1973; amd. Sec. 11, Ch. 71, L. 1977; amd. Sec. 2, Ch. 453, L. 1977; R.C.M. 1947, 5-609; amd. Sec. 3, Ch. 274, L. 1981; amd. Sec. 6, Ch. 474, L. 1981; amd. Sec. 1, Ch. 9, L. 1987; amd. Sec. 7, Ch. 395, L. 1993; amd. Sec. 76, Ch. 483, L. 2001.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-202. Repealed

32-1-202. Repealed.
Sec. 28, Ch. 23, L. 2023.
History: En. Sec. 4, Ch. 420, L. 1973; amd. Sec. 22, Ch. 431, L. 1975; amd. Sec. 12, Ch. 71, L. 1977; R.C.M. 1947, 5-610; amd. Sec. 2, Ch. 274, L. 1981; amd. Sec. 2, Ch. 322, L. 1989; amd. Sec. 8, Ch. 395, L. 1993; amd. Sec. 2, Ch. 265, L. 1995; amd. Sec. 3, Ch. 117, L. 1997; amd. Sec. 76, Ch. 382, L. 1997; amd. Sec. 12, Ch. 163, L. 2005; amd. Sec. 9, Ch. 75, L. 2019.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-203. Repealed

32-1-203. Repealed.
Sec. 28, Ch. 23, L. 2023.
History: En. Sec. 5, Ch. 420, L. 1973; amd. Sec. 23, Ch. 431, L. 1975; amd. Sec. 13, Ch. 71, L. 1977; R.C.M. 1947, 5-611; amd. Sec. 3, Ch. 322, L. 1989; amd. Sec. 4, Ch. 117, L. 1997.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-204. Repealed

32-1-204. Repealed.
Sec. 28, Ch. 23, L. 2023.
History: En. Sec. 6, Ch. 420, L. 1973; amd. Sec. 24, Ch. 431, L. 1975; R.C.M. 1947, 5-612; amd. Sec. 1, Ch. 567, L. 1987; amd. Sec. 3, Ch. 265, L. 1995; amd. Sec. 5, Ch. 117, L. 1997; amd. Sec. 10, Ch. 75, L. 2019.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-205. Repealed

32-1-205. Repealed.
Sec. 28, Ch. 23, L. 2023.
History: En. Sec. 7, Ch. 420, L. 1973; R.C.M. 1947, 5-613; amd. Sec. 139, Ch. 575, L. 1981.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-206. Repealed

32-1-206. Repealed.
Sec. 28, Ch. 23, L. 2023.
History: En. Sec. 8, Ch. 420, L. 1973; R.C.M. 1947, 5-614; amd. Sec. 1008, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-212. Conflicts of interest -- definition -- rulemaking

32-1-212. Conflicts of interest -- definition -- rulemaking.
(1) The commissioner and any deputy commissioner may not be, directly or indirectly, interested in any entity chartered or supervised by the department.
(2) The commissioner, any deputy commissioner, or any employee of the division, including a bank examiner, may not borrow money from an entity chartered or supervised by the department unless the extension of credit:
(a) is made on substantially the same terms as those prevailing at the time for comparable transactions by the financial institution with persons who are not employed by the division; and
(b) does not involve more than the normal risk of repayment or present other unfavorable features.
(3) For the purposes of this section, the phrase "substantially the same terms" includes interest rates and collateral and credit underwriting procedures that are not less stringent than those prevailing at the time for comparable transactions by the lender as for other borrowers who are not employed by the division.
(4) The department shall adopt rules to implement this section.
History: En. Sec. 58, Ch. 89, L. 1927; re-en. Sec. 6014.62, R.C.M. 1935; amd. Sec. 20, Ch. 431, L. 1975; amd. Sec. 10, Ch. 71, L. 1977; R.C.M. 1947, 5-604; amd. Sec. 2, Ch. 274, L. 1981; amd. Sec. 77, Ch. 483, L. 2001; amd. Sec. 2, Ch. 49, L. 2013; amd. Sec. 12, Ch. 75, L. 2019.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-213. Payments to be made by banks, investment companies, and trust companies

32-1-213. Payments to be made by banks, investment companies, and trust companies.
Each bank, trust company, or investment company under the supervision of the department shall pay to the department fees set by the department by rule to recover all of the costs of administering the program for the supervision of banks, trust companies, and investment companies. The department may amend the rule setting the fees on or before June 1 and December 1 of each year. The funds collected must be deposited in the state special revenue fund for the use of the department in its examination function.
History: En. Sec. 73, Ch. 89, L. 1927; amd. Sec. 1, Ch. 167, L. 1929; re-en. Sec. 6014.82, R.C.M. 1935; amd. Sec. 1, Ch. 59, L. 1953; amd. Sec. 1, Ch. 141, L. 1959; amd. Sec. 1, Ch. 256, L. 1971; amd. Sec. 170, Ch. 431, L. 1975; R.C.M. 1947, 5-908; amd. Sec. 1, Ch. 289, L. 1979; amd. Sec. 1, Ch. 507, L. 1983; amd. Sec. 1, Ch. 600, L. 1985; amd. Sec. 6, Ch. 117, L. 1997.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-214. Special examination defined

32-1-214. Special examination defined.
A special examination is an examination made by the department otherwise than in the ordinary routine of the department because, in its opinion, the condition of the bank requires the examination or an examination made at the request of the board of directors or stockholders of a bank.
History: En. Sec. 92, Ch. 89, L. 1927; re-en. Sec. 6014.103, R.C.M. 1935; amd. Sec. 35, Ch. 431, L. 1975; amd. Sec. 18, Ch. 71, L. 1977; R.C.M. 1947, 5-1019.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-215. Special examinations and fees -- report within 120 days

32-1-215. Special examinations and fees -- report within 120 days.
Special examinations may be made of a bank, trust company, investment company, building and loan association, or credit union when in the judgment of the department it is considered necessary, and the special examination shall be charged for at a rate that equals the department's actual costs for examiner wages and travel expenses. All special examination fees or charges shall be paid at the conclusion of the examination, and the moneys collected by the department shall be paid to the state treasurer for the credit of the state special revenue fund for the use of the department in its examination function. The department shall submit in writing to the examined bank a report of the examination's findings no later than 120 days after the completion of the examination.
History: En. Sec. 2, Ch. 167, L. 1929; re-en. Sec. 6014.84, R.C.M. 1935; amd. Sec. 1, Ch. 58, L. 1953; amd. Sec. 1, Ch. 137, L. 1955; amd. Sec. 1, Ch. 180, L. 1959; amd. Sec. 222, Ch. 147, L. 1963; amd. Sec. 22, Ch. 249, L. 1967; amd. Sec. 5, Ch. 256, L. 1971; amd. Sec. 31, Ch. 431, L. 1975; R.C.M. 1947, 5-910; amd. Sec. 2, Ch. 600, L. 1985; amd. Sec. 2, Ch. 199, L. 1989.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-216. Examination at request of directors

32-1-216. Examination at request of directors.
When requested in writing, upon the authority of a majority of the board of directors of any bank, to make an examination of such bank, the department shall do so.
History: En. Sec. 93, Ch. 89, L. 1927; re-en. Sec. 6014.104, R.C.M. 1935; amd. Sec. 170, Ch. 431, L. 1975; R.C.M. 1947, 5-1020.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-217. Repealed

32-1-217. Repealed.
Sec. 50, Ch. 395, L. 1993.
History: En. Sec. 98, Ch. 89, L. 1927; re-en. Sec. 6014.109, R.C.M. 1935; amd. Sec. 170, Ch. 431, L. 1975; R.C.M. 1947, 5-1025.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-218. Department to make rules

32-1-218. Department to make rules.
(1) The department may promulgate reasonable rules and orders concerning bookkeeping and accounting by state banks, including the keeping of reasonable credit information, information in connection with assets, or information in connection with charged-off items.
(2) The department may adopt uniform rules to govern the examination and reports of banks and trust companies and prescribe the form in which banks and trust companies report their assets, liabilities, and reserves.
(3) The department may promulgate reasonable rules concerning applications for and determinations on applications for the formation, relocation, closure, and sale of branch banks and applications for the formation, consolidation, and merger of shell banks.
(4) The department may adopt rules, issue orders and declaratory statements, disseminate information, and exercise its discretion to effectuate the purposes, policies, and provisions of this chapter.
History: (1)En. Sec. 100, Ch. 89, L. 1927; re-en. Sec. 6014.111, R.C.M. 1935; amd. Sec. 170, Ch. 431, L. 1975; amd. Sec. 20, Ch. 71, L. 1977; Sec. 5-1027, R.C.M. 1947; (2)En. Sec. 91, Ch. 89, L. 1927; re-en. Sec. 6014.102, R.C.M. 1935; amd. Sec. 34, Ch. 431, L. 1975; Sec. 5-1018, R.C.M. 1947; R.C.M. 1947, 5-1018, 5-1027; amd. Sec. 9, Ch. 395, L. 1993; amd. Sec. 7, Ch. 117, L. 1997.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-219. Reliance on order -- limit on liability

32-1-219. Reliance on order -- limit on liability.
A person acting in good faith reliance upon a rule, order, or declaratory statement issued by the division is not subject to any criminal, civil, or administrative liability for the action if a subsequent decision by a court of competent jurisdiction invalidates the rule, order, or declaratory statement. In the case of an order or declaratory statement that is not of general application, only the person to whom the order or declaratory statement was issued is entitled to rely upon it, unless a third person is dealing with material facts or circumstances that are substantially the same as those upon which the order or declaratory statement was based.
History: En. Sec. 10, Ch. 395, L. 1993.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-220. Access to holding companies and affiliated entities

32-1-220. Access to holding companies and affiliated entities.
The division may review the books and affairs of a bank holding company operating under the Bank Holding Company Act of 1956 during the course of a safety and soundness examination of the bank holding company's subsidiary bank to the extent that the records pertain to the operations and financial condition of the subsidiary bank or to the holding company's indebtedness. The authority granted in this section does not authorize the division to regulate or charge assessments to a bank holding company.
History: En. Sec. 11, Ch. 395, L. 1993; amd. Sec. 1, Ch. 148, L. 1997; amd. Sec. 1, Ch. 49, L. 2011.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-221. Regional banking organizations -- department authority

32-1-221. Regional banking organizations -- department authority.
(1) Notwithstanding 32-1-211(2)(b), the department shall submit to a regional banking organization a report of the examination findings no later than 90 days after the completion of the examination.
(2) The department has the same examination authority over the bank holding company of a regional banking organization as the department has over the regional banking organization.
(3) The department may:
(a) participate in examinations of bank holding companies of regional banking organizations with federal financial institution regulatory agencies and one or more state's financial regulatory departments; and
(b) take an enforcement action against the bank holding company of a regional banking organization pursuant to this chapter if the department considers the action to be necessary or appropriate to carry out its responsibilities under this chapter or to ensure compliance with the laws of this state.
(4) Notwithstanding 32-1-322, at least one-third of the board of directors of a regional banking organization must be residents of Montana.
History: En. Sec. 1, Ch. 75, L. 2019.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-222. Loan production office -- rulemaking authority

32-1-222. Loan production office -- rulemaking authority.
(1) A bank may:
(a) establish and maintain a loan production office only after approval by the department; or
(b) relocate or close a loan production office after giving notice to its customers and the department.
(2) The department may adopt rules to implement this section.
History: En. Sec. 2, Ch. 75, L. 2019; amd. Sec. 12, Ch. 23, L. 2023.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-231. Reports to department

32-1-231. Reports to department.
(1) A bank shall make to the department regular call reports at least three times each year according to the form that may be prescribed by the department, verified by oath or affirmation of the president, vice president, or cashier of the bank and attested by the signature of at least two of the directors other than the subscribing officer.
(2) Each call report must exhibit in detail, and under appropriate schedules, the resources and liabilities of the bank at the close of business on any past day specified by the department. The "past day specified" by the department, under the provisions of this section, must be the day designated by the comptroller of currency of the United States for reports of national banking associations.
(3) The call report must be transmitted to the department within 30 days after the past day specified under subsection (2). A bank's successful and timely electronic transmittal of its call report to the applicable federal banking regulator or authority satisfies the bank's obligation to transmit the report to the department. The original signature page of the bank's call report that complies with subsection (1) must be permanently retained by the bank and available for the department's review. A nondepository trust company that is not insured by the federal deposit insurance corporation shall transmit its call report directly to the department in hard copy or imaged form.
History: En. Secs. 61, 64, Ch. 89, L. 1927; re-en. Secs. 6014.65, 6014.68, R.C.M. 1935; amd. Secs. 25, 170, Ch. 431, L. 1975; R.C.M. 1947, 5-701, 5-704; amd. Sec. 2, Ch. 274, L. 1981; amd. Sec. 1, Ch. 186, L. 1985; amd. Sec. 1, Ch. 64, L. 1995; amd. Sec. 1, Ch. 12, L. 2015.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-232. Report of declaration of dividend

32-1-232. Report of declaration of dividend.
In addition to the call report required by 32-1-231, a bank shall report to the department within 30 days after declaring a dividend, showing the amount of the dividend and the amount of net earnings in excess of the dividend. The report must be attested as provided in 32-1-231.
History: En. Sec. 62, Ch. 89, L. 1927; re-en. Sec. 6014.66, R.C.M. 1935; amd. Sec. 26, Ch. 431, L. 1975; amd. Sec. 14, Ch. 71, L. 1977; R.C.M. 1947, 5-702; amd. Sec. 2, Ch. 12, L. 2015; amd. Sec. 13, Ch. 75, L. 2019.
2023 Montana Code Annotated › Title 32. Financial Institutions › Chapter 1. Banks and Trust Companies › Part 2. State-Chartered Banks and Functions ofDepartment of Administration › 32-1-233. Special reports to department

32-1-233. Special reports to department.
(1) In addition to the information obtained from the call report required by 32-1-231, the department may also require a bank to furnish a special report in writing, verified as required by 32-1-231, when in its judgment the special report is necessary to inform it fully of the actual financial condition and affairs of the bank. A willfully false statement in the report is perjury and must be punished accordingly.
(2) Each bank shall file a report of service and technology providers containing the information as set forth by the department by rule by July 31 of each year.
(3) A bank shall report an incident that allowed unauthorized access to customer data or interruption of customer services to the department immediately following discovery and without unreasonable delay.
History: En. Sec. 63, Ch. 89, L. 1927; re-en. Sec. 6014.67, R.C.M. 1935; amd. Sec. 27, Ch. 431, L. 1975; R.C.M. 1947, 5-703; amd. Sec. 3, Ch. 12, L. 2015; amd. Sec. 13, Ch. 23, L. 2023.