reglab/statecodes huggingface dataset:
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.59 - BANKING AND FINANCIAL INSTITUTIONS › Subchapter 2.59.20 - Mutual Savings and Loan Associations › Rule 2.59.2065 - COMMON ENTERPRISE

Current through Register Vol. 13, July 5, 2024
(1) A common
				enterprise occurs when two or more persons combine to acquire, operate, or
				control a business enterprise or property interest.
(2) Credit to a common enterprise includes:
(a) loans or extensions of credit to two or
				more persons when the loans or extensions of credit are used for a common
				purpose; the expected source of repayment for each loan or extension of credit
				is the same for two or more of the persons, and those persons lack another
				source of income from which the loans or extensions of credit, together with
				the person's other liabilities, may be fully repaid; and
(b) loans or extensions of credit made to
				persons who are related directly or indirectly through common control,
				including where one person is directly or indirectly controlled by another
				person; and if substantial financial interdependence exists between or among
				the persons. Substantial financial interdependence is deemed to exist when 50%
				or more of one person's gross receipts or gross expenditures, on an annual
				basis, are derived from transactions with the other person.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.59 - BANKING AND FINANCIAL INSTITUTIONS › Subchapter 2.59.20 - Mutual Savings and Loan Associations › Rule 2.59.2066 - EXCLUSIONS

Current through Register Vol. 13, July 5, 2024
(1) The following items will be excluded when
				calculating the amount of a person's total loans and extensions of credit:
(a) loans or extensions of credit, and
				participation in loans and extensions of credit, that have been sold, if:
(i) the loan, extension of credit, or the
				portion of the loan or extension of credit sold as a participation is sold
				without recourse to the selling mutual association; or
(ii) the participation agreement provides for
				a pro rata sharing of credit risk proportionate to the respective interests of
				the originating and participating lenders. Where a participation agreement
				provides that repayment must be applied first to the portions sold, a pro rata
				sharing will be deemed to exist only if the agreement also provides that, in
				the event of a default or comparable event defined in the agreement,
				participants must share in all subsequent repayments and collections in
				proportion to their percentage participation at the time of the occurrence of
				the event;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.59 - BANKING AND FINANCIAL INSTITUTIONS › Subchapter 2.59.20 - Mutual Savings and Loan Associations › Rule 2.59.2069 - CREDIT EXPOSURE ARISING FROM DERIVATIVES AND SECURITIES FINANCING TRANSACTIONS

Current through Register Vol. 13, July 5, 2024
(1) For purposes of determining a mutual
				association's lending limit under 32-2-925, MCA, the mutual association's
				credit exposure arising from a derivatives transaction or a securities
				financing transaction entered by a mutual association must be calculated in
				accordance with the methods and models contained in Appendix B to ARM 2.59.2069
				dated July 14, 2021, which is adopted and incorporated by reference, and
				available on the department's website at banking.mt.gov.
AUTH: 32-2-911, 32-2-925, MCA; IMP: 32-2-911, 32-2-925,
					 MCA
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.1 - Organizational Rule › Rule 2.60.101 - ORGANIZATION OF BOARD

Current through Register Vol. 13, July 5, 2024
(1) The
				organization of the state banking board is set out in chapter 1.
Sec.
					 32-1-203, MCA; IMP, Sec.
					 2-4-201,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.2 - Procedural Rules › Rule 2.60.201 - PROCEDURAL RULES

Current through Register Vol. 13, July 5, 2024
(1) The procedural
				rules of the state banking board are set out in chapter 2.
Sec.
					 32-1-203, MCA; IMP, Sec.
					 2-4-201,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.2 - Procedural Rules › Rule 2.60.202 - INVESTIGATION RESPONSIBILITY

Current through Register Vol. 13, July 5, 2024
(1) The board
				hereby authorizes the commissioner of banking and financial institutions and
				examining personnel of the banking and financial institutions division to
				gather, at the board's direction, all available information relative to an
				application. Information so gathered must be reported to the board in such form
				and in such manner as the board directs. The commissioner of banking and
				financial institutions is also authorized to make, or cause to be made, such
				investigations as he may determine are warranted under the circumstances
				existing and must make the information obtained available to the
				board.
Sec.
					 32-1-203, MCA; IMP, Sec.
					 32-1-203,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.2 - Procedural Rules › Rule 2.60.203 - APPLICATION PROCEDURE FOR A CERTIFICATE OF AUTHORIZATION FOR A STATE-CHARTERED BANK

Current through Register Vol. 13, July 5, 2024
(1) One or more
				individual incorporators desiring to organize a bank shall file with the
				Commissioner of Banking and Financial Institutions an application to the State
				Banking Board for a certificate of authorization for a state-chartered bank.
				The Division of Banking and Financial Institutions of the Department of
				Administration adopts and incorporates by reference:
(a) the Interagency Charter and Federal
				Deposit Insurance Application (Expiration Date: August 31, 2019) as the form
				that shall be completed when applying for a certificate of authorization;
				and
(b) the Interagency
				Biographical and Financial Report (Expiration Date: April 30, 2017) for use by
				individuals in conjunction with the Interagency Charter and Federal Deposit
				Insurance Application. The application and biographical and financial report
				are available at the Division of Banking and Financial Institutions, P.O. Box
				200546, Helena, Montana 59620-0546, or on the division web site located at
http://banking.mt.gov/Home/Forms#164912240-banks-and-trust-companies
.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.2 - Procedural Rules › Rule 2.60.204 - PROCEDURAL RULES FOR DISCOVERY AND HEARING

Current through Register Vol. 13, July 5, 2024
(1) The State
				Banking Board and the division adopt and incorporate by reference the following
				Attorney General's model rules in effect February 27, 2017, ARM
				1.3.101, ARM
				1.3.102, ARM
				1.3.201, ARM
				1.3.202, ARM
				1.3.211 through ARM
				1.3.224, and ARM
				1.3.226 through ARM
				1.3.233. These rules may be found
				at sos.mt.gov. Prehearing discovery procedures shall be allowed in the same
				manner as specified under the Montana Rules of Civil Procedure relative to
				district court actions. The time period established in discovery may be
				shortened at the discretion of the board.
(2) The State Banking Board adopts "Roberts
				Rules of Order."
(3) The Division
				of Banking and Financial Institutions and the State Banking Board adopt the
				following rules for hearings on applications for certificates of authorization
				for new banks and protests of applications for the formation, relocation,
				closure or sale of a branch bank or for the consolidation, merger or relocation
				of a bank if the application is approved by the division and if the board
				determines that there is a substantial basis for the protest. The division also
				may request a hearing before the board.
(a) a
				notice of filing for a hearing on the application for a certificate of
				authorization for a new bank must be mailed to all banks within 100 miles of
				the proposed location, measured in a straight line. The notice of hearing on
				applications approved by the division in which the board determines there is a
				substantial basis for the protest must also be mailed to all banks within 100
				miles of the proposed location, measured in a straight line. All of the rights
				and procedures of contested case proceedings apply to a person or bank filing a
				written protest with the board;
(b) a written protest must be filed with the
				division no later than 15 calendar days following the notice of the filing of
				an application for a certificate of authorization for a new bank. A written
				protest on all other applications must be filed no later than 15 calendar days
				upon the filing of the application with the division; and
(c) a substantial basis for the protest as
				determined by the board shall include, but not be limited to:
(i) to the extent required by law, failure to
				inform and advise all ownership interests, including shareholders, of the
				determination to submit an application for the proposed decision;
(ii) the proposed application threatens the
				solvency and financial integrity of the institution;
(iii) the proposed application changes the
				ownership and management of the institution so as to affect the financial
				integrity of the institution; or
(iv) other reasons that may be considered by
				the board.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.3 - New Bank Charters › Rule 2.60.301 - PERSUASIVE SHOWING OF REASONABLE PUBLIC NECESSITY AND DEMAND

Current through Register Vol. 13, July 5, 2024
(1) In determining whether a reasonable
				public necessity and demand is established in any case, the board requires that
				these words be given a meaning which will promote the public interest of the
				community as a whole in having a sound banking structure, reasonably
				competitive and adequate for the needs of the community.
(2) In making this determination the
				following are among the factors which the board may consider:
(a) the number of banks already serving the
				area in which the proposed bank would locate;
(b) the size of the area;
(c) the population of the area;
(d) the wealth of residents of the
				area;
(e) the commercial and
				industrial development of the area;
(f) the socio-economic trends of the
				area;
(g) the adequacy of the
				services being provided by existing banks compared to the needs of residents
				and the services to be offered by the proposed bank, including a detailed list
				of banking services that will be offered the community to be served by the new
				bank;
(h) the capability of
				existing banks to handle potential growth of the area;
(i) the convenience of the location of
				existing banks to residents of the area as compared to convenience of the
				proposed bank;
(j) the size of
				financial institutions in the area;
(k) the history of financial institutions in
				the area;
(l) an indication of the
				support the proposed bank could reasonably expect to receive from
				representative segments of the businesses and residents of the area;
				and
(m) the probability of the
				success of the proposed bank.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.3 - New Bank Charters › Rule 2.60.302 - MANAGEMENT OF PROPOSED BANK

Current through Register Vol. 13, July 5, 2024
(1) To
				establish reasonable assurance that the bank will be safely and soundly
				operated as required by
				32-1-203, MCA, and recognizing
				that the ultimate responsibility for management of a bank reposes in its board
				of directors, the banking board will not order the commissioner of banking and
				financial institutions to issue a certificate of authority to a proposed bank
				if the board finds that any one or more of the proposed directors of the new
				bank has questionable moral character or lack of financial integrity and,
				therefore, does not command the confidence of the community in which the
				proposed bank is to be located.
(2)
				In the event that the application for a state bank charter does not include the
				name and qualifications of the proposed managing officer, the board will direct
				that if a charter is to be issued for the proposed bank it shall be conditioned
				upon the submission of the name and qualifications of a proposed managing
				officer to the division of banking and financial institutions at least 60 days
				prior to the opening of the bank and that the division of banking and financial
				institutions find said proposed managing officer unobjectionable.
Sec.
					 32-1-203, MCA; IMP, Sec.
					 32-1-203,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.3 - New Bank Charters › Rule 2.60.303 - CAPITAL ADEQUACY OF PROPOSED NEW BANKS

Current through Register Vol. 13, July 5, 2024
(1) The
				applicant must provide a reasonable assurance that the proposed new bank will
				have adequate initial paid-in capital sufficient to accomplish the following:
(a) establish an undivided profits account in
				an amount great enough to absorb initial operating losses under foreseeable
				business conditions;
(b) total
				capital and surplus accounts of adequate size to permit the proposed investment
				in building, land, furniture, and fixtures within the limitation of 100% of
				capital and surplus as imposed by
				32-1-423, MCA;
(c) provide protection for depositors' funds
				to the same extent that the average of all insured commercial banks in the
				proposed bank's peer group provides capital protection, measured by the most
				current peer group data available on total capital accounts and reserves as a
				percentage of total assets. The proposed bank's reasonably estimated total
				assets at the end of its first three years of operation shall be the basis upon
				which this standard shall be projected; and
(d) to enable the bank to furnish competitive
				services that will ensure an amount of business sufficient to assure its
				success.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.3 - New Bank Charters › Rule 2.60.304 - BANKS - FDIC INSURANCE REQUIRED

Current through Register Vol. 13, July 5, 2024
(1) To
				comply with
				32-1-203, MCA, it has been
				determined by the state banking board that it is in the public interest to
				require all commercial banks to be accepted by the federal deposit insurance
				corporation for the insurance of deposits. The board will not order the
				commissioner of banking and financial institutions to issue a certificate of
				authorization to a proposed new bank unless:
(a) the division of banking and financial
				institutions has received official notice that the proposed bank has been
				accepted for insurance of deposits; or,
(b) the division of banking and financial
				institutions has received satisfactory assurance from the FDIC or the federal
				reserve bank of Minneapolis that the proposed bank will be accepted for
				insurance when the proponents comply with certain stated minor requirements
				imposed by the FDIC Such "minor requirements" must be of a type and character
				which the board determines can be promptly complied with by the proponents
				without serious difficulty.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.3 - New Bank Charters › Rule 2.60.305 - PRO FORMA STATEMENT

Current through Register Vol. 13, July 5, 2024
(1) An operational
				projection shall be submitted as part of the application for new bank charters,
				in order to show that the new bank will remain solvent while meeting the
				requirements set forth in ARM
				2.60.303. The pro forma statement
				will include, at a minimum:
(a) a projected
				three-year comparative balance sheet and income projection,
(b) information on start-up costs, including
				legal fees, and other costs that may be amortized, and
(c) costs associated with fixed assets and
				their maintenance.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.4 - Closure or Relocation of Bank Branch (Repealed) › Rule 2.60.401 - ADOPTION OF FORM FOR NOTICE TO PUBLIC OF BANK BRANCH CLOSURE OR RELOCATION (REPEALED)

Current through Register Vol. 13, July 5, 2024
AUTH:
					 32-1-218,
					 MCA IMP:
					 32-1-202,
					 32-1-218,
					 MCA
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.5 - Closed Banks › Rule 2.60.501 - STATE BANK ORGANIZED FOR PURPOSE OF ASSUMING DEPOSIT LIABILITY OF ANY CLOSED BANK

Current through Register Vol. 13, July 5, 2024
(1) All provisions
				of ARM 2.60.202 and
				2.60.203, application procedures,
				apply except
				2.60.203(3),
				summary of evidence demonstrating reasonable public necessity and demand for a
				new bank. The provisions of ARM
				2.60.302 through
				2.60.304 also apply.
(2) Prior to submitting a bid for the assets
				and liabilities of a closed bank, organizers must:
(a) appoint a spokesperson who is empowered
				to speak for and sign documents on behalf of the organization;
(b) have written verification in hand that
				capital for the new bank is on deposit and will be available prior to the new
				bank opening;
(c) have written
				verification of blanket bond coverage for the new bank;
(d) provide all details of the proposed
				purchase arrangement along with a copy of the purchase and assumption agreement
				and other related documents required by the closed bank receiver.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.8 - Foreign Capital Depositories › Rule 2.60.801 - AUTHORITY, PURPOSE AND SCOPE: DEFINITIONS (REPEALED)

Current through Register Vol. 13, July 5, 2024
32-8-107, MCA; IMP,
					 32-8-107,
					 32-8-201,
					 32-8-202,
					 32-8-203,
					 32-8-205,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.8 - Foreign Capital Depositories › Rule 2.60.802 - APPLICATION PROCEDURE FOR A CHARTER (REPEALED)

Current through Register Vol. 13, July 5, 2024
32-8-107, MCA; IMP,
					 32-8-107,
					 32-8-201,
					 32-8-205,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.8 - Foreign Capital Depositories › Rule 2.60.803 - EVIDENCE OF GOOD CHARACTER AND PROSPECTIVE COMPLIANCE WITH FEDERAL LAW (REPEALED)

Current through Register Vol. 13, July 5, 2024
32-8-107, MCA; IMP,
					 32-8-107,
					 32-8-201,
					 32-8-202,
					 32-8-301,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.8 - Foreign Capital Depositories › Rule 2.60.804 - BUSINESS PLAN AND PRO FORMA STATEMENT (REPEALED)

Current through Register Vol. 13, July 5, 2024
32-8-107, MCA; IMP,
					 32-8-201,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.8 - Foreign Capital Depositories › Rule 2.60.805 - CAPITAL ADEQUACY (REPEALED)

Current through Register Vol. 13, July 5, 2024
32-8-107, MCA; IMP,
					 32-8-201,
					 32-8-202,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.8 - Foreign Capital Depositories › Rule 2.60.806 - APPLICANTS THAT ARE SUBSIDIARIES OF FOREIGN BANKS (REPEALED)

Current through Register Vol. 13, July 5, 2024
32-8-107, MCA; IMP,
					 32-8-201,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.8 - Foreign Capital Depositories › Rule 2.60.807 - NOTICE OF HEARINGS (REPEALED)

Current through Register Vol. 13, July 5, 2024
32-8-107, MCA; IMP,
					 32-8-201,
					 32-8-202,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.8 - Foreign Capital Depositories › Rule 2.60.808 - GROUNDS FOR DENIAL (REPEALED)

Current through Register Vol. 13, July 5, 2024
32-8-107, MCA; IMP,
					 32-8-202,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.8 - Foreign Capital Depositories › Rule 2.60.809 - PROCEDURAL RULES FOR DETERMINATIONS: APPROVAL CONDITIONS (REPEALED)

Current through Register Vol. 13, July 5, 2024
32-8-107, MCA; IMP,
					 32-8-201,
					 32-8-205,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.8 - Foreign Capital Depositories › Rule 2.60.810 - ANNUAL FEES (REPEALED)

Current through Register Vol. 13, July 5, 2024
32-8-107, MCA; IMP,
					 32-8-205,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.8 - Foreign Capital Depositories › Rule 2.60.811 - PROCEDURAL RULES FOR DISCOVERY AND HEARINGS (REPEALED)

Current through Register Vol. 13, July 5, 2024
32-8-107,
					 32-8-205,
					 32-8-301, MCA; IMP,
					 32-8-201,
					 32-8-202,
					 32-8-203,
					 32-8-205,
					 32-8-301,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.9 - Applications for Shell Banks › Rule 2.60.901 - STATE BANK ORGANIZED FOR PURPOSE OF BEING A SHELL BANK

Current through Register Vol. 13, July 5, 2024
(1) If a shell bank is being organized for
				the purpose of acquiring control of or acquiring all or substantially all of
				the assets of an existing bank or savings association, the organizers shall
				comply with
				32-1-202 through
				32-1-206 and
				32-1-301 through
				32-1-307, MCA, and the rules
				adopted thereunder.
(2) An
				application for a shell bank organized solely for the purpose of merging with
				an existing bank or savings association is governed by this
				subchapter.
(3) A shell bank
				organized solely for the purpose of merging with an existing bank or savings
				association is referred to as an interim bank in this subchapter. An interim
				bank has no authority to conduct a banking business until merged with an
				existing bank or savings association.
(4) The provisions of this subchapter do not
				apply to a state bank organized for the purpose of assuming deposit liabilities
				of any closed bank governed by ARM
				2.60.501.
32-1-218, MCA; IMP,
					 32-1-109,
					 32-1-204,
					 32-1-218,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.9 - Applications for Shell Banks › Rule 2.60.902 - APPLICATION PROCEDURES

Current through Register Vol. 13, July 5, 2024
(1) An application
				to form an interim bank must be on the form in ARM
				2.60.903.
(2) The application to form an interim bank
				must be filed with the department.
(3) The applicant shall publish a notice in a
				newspaper of general circulation in the community in which the main office of
				the proposed interim bank is to be located. If there is no such newspaper in
				the community, then in a newspaper of general circulation published nearest the
				community will suffice. The notice must run once a week for two consecutive
				weeks. The public notice must include:
(a) the
				name of the proposed interim bank;
(b) a brief summary of the purpose of the
				interim bank;
(c) a reference to
				ARM 2.60.903, under which the proposed interim bank is to be formed;
				and
(d) notice that interested
				persons are invited to comment on the application before the State Banking
				Board.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.9 - Applications for Shell Banks › Rule 2.60.904 - DECISION OF STATE BANKING BOARD; INCORPORATION

Current through Register Vol. 13, July 5, 2024
(1) Approval of an
				application for an interim bank certificate of authority under this rule will
				be accomplished through a telephone conference call with a quorum of the board
				participating.
(2) The provisions
				of ARM 2.60.202 and
				2.60.204(1) and
				(2) apply to an application for an interim
				bank certificate of authority.
(3)
				Within two weeks after the conclusion of the hearing before the State Banking
				Board, the State Banking Board shall issue a decision as to whether to approve
				the application for the interim bank. This two-week period may be extended by
				two additional weeks if the State Banking Board or the department requires more
				time or information.
(4) The
				receipt and approval of the information in ARM
				2.60.902 and
				2.60.903 constitute sufficient
				authority for the State Banking Board to approve the issuance of a certificate
				of authorization to the interim bank.
(5) The State Banking Board may require
				additional information as it sees fit from an applicant before approving the
				application.
(6) The State Banking
				Board's approval shall be specifically conditioned on:
(a) the commissioner's approval of the
				subsequent merger; and
(b) the new
				institution being accepted for deposit insurance by the Federal Deposit
				Insurance Corporation.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.9 - Applications for Shell Banks › Rule 2.60.905 - POWERS OF INTERIM BANK BEFORE MERGER

Current through Register Vol. 13, July 5, 2024
(1)
				An interim bank may take only those corporate and fiduciary steps and actions
				reasonably incidental and necessary to facilitate and complete the merger. Such
				limitation does not preclude the State Banking Board from ordering the
				department to grant a certificate of authorization, and to otherwise facilitate
				and authorize the formation and incorporation of the interim bank.
32-1-218, MCA; IMP,
					 32-1-109,
					 32-1-218,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.9 - Applications for Shell Banks › Rule 2.60.906 - PROOF OF MERGER: REVOCATION OF CERTIFICATE OF AUTHORIZATION

Current through Register Vol. 13, July 5, 2024
(1) From the date an interim bank is
				authorized according to this rule, the parties to the interim bank agreement
				have six months in which to effect the merger with the existing bank or savings
				association. The merger must proceed under
				32-1-370 or
				32-1-371, MCA.
(2) The department may grant extensions if
				the parties to the interim bank agreement show good cause as to why an
				extension is needed to complete the merger.
(3) The department may cancel or revoke the
				certificate of authorization of the interim bank (and may take such other steps
				as are appropriate at any time) if:
(a) proof
				of the merger between the interim bank and the existing bank or savings
				association has not been provided to the department at the end of the
				authorized time;
(b) the interim
				bank actually conducts any banking business prior to its proposed merger;
				or
(c) any related merger or
				consolidation application is denied or withdrawn.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.60 - STATE BANKING BOARD › Subchapter 2.60.9 - Applications for Shell Banks › Rule 2.60.907 - FEES

Current through Register Vol. 13, July 5, 2024
(1) A nonrefundable fee of $1,000 to offset
				the administrative expense of the department must be included with the
				application, provided, however, the fee is considered a part of and not in
				addition to any fee being paid at the same time to the department in connection
				with a contemporaneous application for a merger.
(2) Depending on the structure of the
				transaction, other fees may be required in accordance with applicable statutes
				or rules.
32-1-218; IMP,
					 32-1-109,
					 32-1-218,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.1 - Organizational Rule › Rule 2.63.101 - ORGANIZATIONAL RULE

Current through Register Vol. 13, July 5, 2024
(1) The Montana
				State Lottery Commission was created by 23-7-201, MCA.
(2) Inquiries and applications regarding the
				commission may be addressed to the director of the Montana State Lottery, 2525
				North Montana, Helena, MT 59601.
(3) The commission consists of five members
				appointed by the Governor. The commission is allocated to the Department of
				Administration for administrative purposes as prescribed by 2-15-121,
				MCA.
(4) The director of the
				Montana lottery is appointed by the Governor. The assistant director for
				security is appointed by the lottery director. All other employees are hired by
				the lottery director. A chart of the organization of the lottery is attached as
				part of this rule and by this reference is incorporated.
Click here
				  to view Image.
23-7-202, MCA; IMP,
					 23-7-202,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.2 - Procedural Rules › Rule 2.63.201 - PROCEDURAL RULES

Current through Register Vol. 13, July 5, 2024
(1) The commission
				adopts and incorporates by reference the following model rules, which may be
				found at
http://sos.mt.gov/
:
(a) the Attorney General's model procedural
				rules ARM
				1.3.201,
				1.3.202,
				1.3.211
				through
				1.3.224,
				and
				1.3.226
				through
				1.3.233,
				including the appendix of sample forms in effect March 3, 2014. These rules
				provide model rules of practice for contested case hearings and declaratory
				rulings; and
(b) the Secretary of
				State's model rules ARM
				1.3.101,
				1.3.102,
				1.3.301,
				1.3.302,
				1.3.304,
				1.3.305,
				1.3.307
				through
				1.3.309,
				and
				1.3.311
				through
				1.3.313
				in effect March 3, 2014. These rules define model requirements for rulemaking
				under the Montana Administrative Procedure Act.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.2 - Procedural Rules › Rule 2.63.202 - CITIZEN PARTICIPATION (REPEALED)

Current through Register Vol. 13, July 5, 2024
23-5-1007, MCA; IMP,
					 23-5-1001 through
					 23-5-1036,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.2 - Procedural Rules › Rule 2.63.203 - DEFINITIONS

Current through Register Vol. 13, July 5, 2024
In addition to the definitions found in
				  23-7-103,
				  MCA, the following definitions apply to this chapter:
(1) "Chain" means three or more places of
				business having the same owner.
(2)
				"License" means the document issued by the lottery which authorizes a sales
				agent to sell lottery tickets at a fixed place of business.
(3) "Lottery ticket" means all lottery
				tickets, including scratch tickets and terminal-issued tickets.
(4) "Place of business" means the premises
				where any Montana business is conducted and includes but is not limited to:
(a) retail businesses;
(b) businesses of religious, charitable,
				civic, or fraternal organizations;
(c) senior citizen centers; and
(d) businesses of the state or any of its
				political subdivisions.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.2 - Procedural Rules › Rule 2.63.204 - GENERAL PROVISIONS

Current through Register Vol. 13, July 5, 2024
(1) The lottery
				shall provide lottery tickets , promotional coupons, and sports wagering to the
				public whenever the director, with the commission's concurrence, finds it
				feasible and in the state's best interest.
(2) The director shall adopt working papers
				for each scratch game, including, but not limited to:
(a) game name;
(b) ticket design;
(c) number of tickets;
(d) book size;
(e) security specifications;
(f) prize structure; and
(g) shipping requirements.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.4 - Retailer Rules › Rule 2.63.401 - SALES AGENT PLACES OF SALE

Current through Register Vol. 13, July 5, 2024
(1) Lottery
				tickets or chances may be sold at any place of business in Montana:
(a) that is licensed by the
				lottery;
(b) that is not engaged in
				business exclusively as a lottery ticket or chance sales agent;
(c) that is financially
				responsible;
(d) that is accessible
				to the public and meets ADA standards;
(e) whose owner has not been convicted of a
				felony or a gambling-related offense; and
(f) whose owner does not have a financial
				interest in any gaming supplier.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.4 - Retailer Rules › Rule 2.63.402 - SALES AGENT RESIDENCY

Current through Register Vol. 13, July 5, 2024
(1) Each person
				applying for a license must either:
(a) file
				an application for registration of assumed business name with the Montana
				Secretary of State's office if
				30-13-203,
				MCA, is applicable; or
(b) if a
				corporation, be licensed to do business in Montana; or
(c) if a foreign corporation, obtain a
				certificate of authority to transact business in the state from the Montana
				Secretary of State's office.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.4 - Retailer Rules › Rule 2.63.403 - SALES AGENT APPLICATIONS AND FEES

Current through Register Vol. 13, July 5, 2024
(1) A
				person interested in obtaining a license as a sales agent shall:
(a) complete an application and pay the
				required licensing fee;
(b) file an
				application for a license using the application forms on montanalottery.com;
				and
(c) indicate license type:
(i) lottery only; or
(ii) sports wagering only.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.4 - Retailer Rules › Rule 2.63.404 - SALES AGENT REQUIRED RULE READING

Current through Register Vol. 13, July 5, 2024
(1) Each
				licensed sales agent and any employee of the sales agent involved in the sale,
				bookkeeping, or any other aspect of the lottery and sports wagering shall:
(a) read and understand the laws and
				commission rules concerning lottery and sports wager licenses; and
(b) sign all official application forms
				indicating that the sales agent is familiar with the laws and commission rules
				and agrees not to violate these laws or rules.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.4 - Retailer Rules › Rule 2.63.405 - SALES AGENT ELECTRONIC FUNDS TRANSFER AND ACCOUNTING

Current through Register Vol. 13, July 5, 2024
(1) An applicant shall, before being
				licensed, authorize the debiting and crediting of an account in the applicant's
				name for the purpose of electronic funds transfer to or from the state's
				collection account, as provided in ARM
				2.63.801.
(2) The sales agent shall execute
				all forms required by the lottery director, the sales agent's bank, or the
				initiating bank.
(3) The lottery
				shall provide to the sales agent the means to track sales, cashing, adjustment,
				and invoicing activity for bookkeeping purposes.
AUTH:
					 23-7-202,
					 MCA; IMP:
					 23-7-301,
					 MCA
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.4 - Retailer Rules › Rule 2.63.406 - SALES AGENT BONDING

Current through Register Vol. 13, July 5, 2024
(1) The director
				may require a surety bond from the owner or corporation making the application
				to the lottery to become a lottery sales agent. The bond amount is determined
				by:
(a) if the location was previously
				licensed, the sales total for the six months prior to closing;
(b) for a new location, the sales of a
				similarly sized sales agent in a community of approximately the same population
				for the six months before the application date.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.4 - Retailer Rules › Rule 2.63.407 - SALES AGENT COMMISSION

Current through Register Vol. 13, July 5, 2024
(1) Sales agents
				who sell scratch or terminal-issued tickets are entitled to a 5 percent base
				commission of the face value of tickets sold.
(2) Sales agents who sell scratch tickets may
				increase the scratch ticket commission up to an additional 5 percent.
(a) Each sales agent is assigned a scratch
				ticket sales base. The scratch ticket sales base is determined using the prior
				fiscal year's average scratch ticket pack activations minus pack
				returns.
(b) For each sales
				quarter, the sales agent's scratch tickets are measured against the assigned
				base by scratch tickets activated and not returned to the lottery.
(c) For each 2 percent increase in sales
				agent's sales over the established base sales during the sales quarter, the
				sales agent's commission must be increased by an additional 0.5 percent, not to
				exceed a 10 percent total commission for any quarter.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.4 - Retailer Rules › Rule 2.63.408 - RETAILER DUTIES (REPEALED)

Current through Register Vol. 13, July 5, 2024
23-5-1007, MCA; IMP,
					 23-5-1007,
					 23-5-1016,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.4 - Retailer Rules › Rule 2.63.409 - ACCEPTABLE FORMS OF PAYMENT (REPEALED)

Current through Register Vol. 13, July 5, 2024
AUTH:
					 23-7-202,
					 MCA; IMP:
					 23-7-202,
					 MCA
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.4 - Retailer Rules › Rule 2.63.410 - AGE VERIFICATION

Current through Register Vol. 13, July 5, 2024
(1) Each sales
				agent shall ensure all persons purchasing or cashing lottery products are 18
				years of age or older.
(2) All
				persons selling lottery products must be 18 years of age or older.
(3) The lottery shall verify the age of all
				persons establishing a sports wagering account to ensure they are 18 years of
				age or older by:
(a) physical verification of
				a government-issued identification as described in ARM
				2.63.1201(1);
				or
(b) electronic verification of
				information provided by the player.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.6 - Licensing Rules › Rule 2.63.601 - LICENSE APPLICATION FEE (REPEALED)

Current through Register Vol. 13, July 5, 2024
23-7-202, MCA; IMP,
					 23-7-301,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.6 - Licensing Rules › Rule 2.63.602 - PROVISIONAL LICENSE (REPEALED)

Current through Register Vol. 13, July 5, 2024
23-7-202,
					 23-7-211, MCA; IMP,
					 23-7-211,
					 23-7-301,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.6 - Licensing Rules › Rule 2.63.603 - DISPLAY OF LICENSE, NOTICES, AND RESTRICTIONS

Current through Register Vol. 13, July 5, 2024
(1) Each sales agent shall prominently
				display the license in each licensed place of business in an area visible to
				the general public and in a manner that prevents theft or defacement of the
				license.
(2) Each sales agent
				shall post a notice that persons must be 18 years of age to play.
(3) A sales agent operating a sports wagering
				facility shall also post information from the lottery including:
(a) sports wagering game conditions that are
				available through the official website;
(b) responsible gambling resources approved
				by the director that are dedicated to helping persons with potential gambling
				problems; and
(c) information
				governing self-imposed responsible gaming limits and the ability for the player
				to establish those limits.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.6 - Licensing Rules › Rule 2.63.604 - LICENSE LOCATIONS

Current through Register Vol. 13, July 5, 2024
(1) A license may
				be issued only for the location specified in the application.
(2) Each person shall submit a separate
				application for each location at which the person intends to sell lottery
				tickets or offer sports wagering.
(3) Each location for which an application is
				submitted must be a fixed location.
(4) The address of the licensed premises must
				appear on the license.
AUTH:
					 23-7-202,
					 23-7-301,
					 MCA; IMP:
					 23-7-301,
					 MCA
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.6 - Licensing Rules › Rule 2.63.605 - EXPIRATION OF LICENSE (REPEALED)

Current through Register Vol. 13, July 5, 2024
23-5-1007,
					 23-5-1012, MCA; IMP,
					 23-5-1012,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.6 - Licensing Rules › Rule 2.63.606 - DUPLICATE LICENSES

Current through Register Vol. 13, July 5, 2024
(1) Upon the loss,
				mutilation, or destruction of any license issued by the director, the sales
				agent shall submit a written request to replace the license to the
				director.
(2) The request for a
				duplicate license must be accompanied by a statement signed under oath or
				penalty of perjury stating the details of the circumstances under which the
				license was lost, mutilated, or destroyed, and bearing a certification that the
				license was, in fact, lost, mutilated, or destroyed.
(3) The request for a duplicate license must
				be accompanied by a nonrefundable fee of $ 25.
(4) The existing pieces of any mutilated or
				partially destroyed license shall be surrendered to the director at the time a
				request for a duplicate license is made.
(5) If a licensee finds a lost license after
				a duplicate has been issued, the licensee shall immediately surrender such
				license to the director.
AUTH:
					 23-7-202,
					 MCA; IMP:
					 23-7-211,
					 23-7-301,
					 MCA
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.6 - Licensing Rules › Rule 2.63.607 - BUSINESS CHANGES

Current through Register Vol. 13, July 5, 2024
(1) A licensee
				shall notify the director of any of the following changes in the licensed
				business:
(a) any change of business
				structure;
(b) material change of
				ownership;
(c) voluntary or
				involuntary business closure;
(d)
				changes in the officers;
(e)
				changes in the board of directors;
(f) change of business address; and
(g) any change of bank account
				information.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.6 - Licensing Rules › Rule 2.63.608 - ASSIGNMENT OR TRANSFER OF LICENSE PROHIBITED (REPEALED)

Current through Register Vol. 13, July 5, 2024
23-7-202, MCA; IMP,
					 23-7-301,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.6 - Licensing Rules › Rule 2.63.609 - CHANGE OF LOCATION

Current through Register Vol. 13, July 5, 2024
(1) The change of a
				business address for any licensee is not considered to be the assignment or
				transfer of the license if all of the following criteria are met:
(a) the licensee informs the director in
				writing of the change of address including the old address, the new address,
				and the reasons for the change of address;
(b) the old location ceases all business
				activity by the licensee and not merely the sale of tickets, chances, wagers,
				or bets;
(c) the new license
				location does not begin the transaction of any business prior to the cessation
				of all business at the previous location;
(d) the director is satisfied that the change
				in location meets all the requirements for initial licensure.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.6 - Licensing Rules › Rule 2.63.610 - LICENSE RENEWAL (REPEALED)

Current through Register Vol. 13, July 5, 2024
23-5-1007, MCA; IMP,
					 23-5-1012,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.6 - Licensing Rules › Rule 2.63.611 - REVOCATION OR SUSPENSION OF LICENSE

Current through Register Vol. 13, July 5, 2024
(1)
				After notice, the director has the authority to provisionally suspend the
				license and, after a hearing before the commission, permanently revoke the
				license and endorsement of any person who has:
(a) knowingly provided false or misleading
				information to the lottery or any other agency conducting an investigation on
				behalf of the lottery;
(b) been
				convicted of a felony;
(c)
				endangered the security of the lottery;
(d) sold any ticket, chance, wager, or bet at
				a higher price than that set by commission rule;
(e) intentionally or knowingly initiated or
				accepted an offer of compensation from another person, or agreed to aid another
				person or persons, to claim all or a share of a lottery prize or sports wager
				winnings by means of fraud, deceit, or misrepresentation;
(f) intentionally preprinted multiple
				terminal-issued draw game or raffle tickets with the objective of gaining an
				advantage over other lottery sales locations while benefiting financially,
				either directly or indirectly, from sale of those tickets;
(g) intentionally amassed packs of scratch
				tickets or taken other intentional actions to gain an advantage over other
				lottery sales locations while benefiting financially, either directly or
				indirectly, from sale of those tickets; or
(h) tampered with any equipment used for
				lottery or sports wagering.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.6 - Licensing Rules › Rule 2.63.612 - TEMPORARY LICENSES

Current through Register Vol. 13, July 5, 2024
(1) The director
				may issue a special temporary license to a licensed lottery-only sales agent
				upon conditions considered necessary including, but not limited to:
(a) license period;
(b) days and hours of sale;
(c) location of special sale;
(d) specific business licensed;
(e) specific sporting, charitable, social, or
				other event where lottery tickets may be sold under the temporary license.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.63 - MONTANA STATE LOTTERY COMMISSION › Subchapter 2.63.6 - Licensing Rules › Rule 2.63.613 - ENDORSEMENT (REPEALED)

Current through Register Vol. 13, July 5, 2024
23-7-202, MCA; IMP,
					 23-7-202,
					 23-7-301,
					 MCA;