Montana Code 32-1-240. Application to organize bank — rulemaking
32-1-240. Application to organize bank — rulemaking. (1) Any five or more individuals, at least three of whom are residents of the state, may file an application to incorporate a proposed bank. The application must be in the form and contain the information prescribed by the department by rule. A nonrefundable application fee, as set by the department by rule, must accompany the application.
Terms Used In Montana Code 32-1-240
- 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
- Department: means the department of administration provided for in Title 2, chapter 15, part 10. See Montana Code 32-1-109
- 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
(2)The information must be set forth in the application in sufficient detail to allow the commissioner to determine if the proposed new bank meets the requirements set forth in 32-1-242 and 32-1-244.
(3)The department shall adopt rules to implement 32-1-240 through 32-1-245.