Montana Code 32-2-1201. Definitions

32-2-1201. Definitions. As used in this part, the following definitions apply:

Institution: means a state mutual association. See Montana Code 32-2-1201
Member: means all holders of the mutual association's savings, demand, including other authorized members on accounts. See Montana Code 32-2-603
Mutual association: means any corporation that has been incorporated to conduct the business of receiving money on deposit from its members and making substantially all of its loans on one-to-four family real estate mortgage security. See Montana Code 32-2-603
State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
Violation: includes without limitation any action, alone or with others, that causes, counsels, aids, or abets a violation. See Montana Code 32-2-1201

(1)”Board member” means a member of the board of directors of the institution.

(2)”Cease and desist order that has become final” means a cease and desist order or an order with respect to which:

(a)a timely petition for review of the action has not been filed; or

(b)the action of the court in which a petition for review has been filed is not subject to further review by the courts of the state.

(3)”Institution” means a state mutual association.

(4)”Violation” includes without limitation any action, alone or with others, that causes, counsels, aids, or abets a violation.