Montana Code 32-1-403. Penalty for transacting business without certificate
32-1-403. Penalty for transacting business without certificate. (1) A person, domestic or foreign, violating any provision of this section shall forfeit to the state $500 a day for every day or part of a day during which the violation continues.
Terms Used In Montana Code 32-1-403
- 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
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- 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)On action brought by the department, the court may issue an injunction restraining a person from further violating any provision of this section and may enter a further order or decree as equity and justice require.
(3)A person doing any of the things or transacting any of the business defined in Title 32, chapter 1, shall transact that business according to the provisions of the Bank Act, and the department may examine the accounts, books, papers, cash, and credits of that person, domestic or foreign, in order to ascertain whether that person has violated or is violating any provisions of this section.