Montana Code 32-1-220. Access to holding companies and affiliated entities
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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.
Terms Used In Montana Code 32-1-220
- 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. See Montana Code 32-1-102
- Bank holding company: means a bank holding company or a financial holding company registered under the federal Bank Holding Company Act of 1956, as amended, regardless of where the entity is located or has its headquarters. See Montana Code 32-1-109
- Division: means the division of banking and financial institutions of the department. See Montana Code 32-1-109
- Subsidiary: means a company 25% or more of whose voting shares or equity interests are owned and controlled by a bank. See Montana Code 32-1-109