Montana Code 32-2-935. Fraud by director, officer, agent, or employee
32-2-935. Fraud by director, officer, agent, or employee. A director, executive officer, agent, or employee of a mutual association is guilty of a felony if that person:
Terms Used In Montana Code 32-2-935
- Department: means the department of administration provided for in 2-15-1001. 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
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Property: means real and personal property. See Montana Code 1-1-205
- Willfully: when applied to the intent with which an act is done or omitted, means a purpose or willingness to commit the act or make the omission referred to. See Montana Code 1-1-204
(1)knowingly receives or takes possession of any mutual association property, except in payment for a just demand, and with intent to defraud:
(a)fails to make or fails to cause or direct to be made a full and true entry of the receipt or possession in its books and account; or
(b)concurs in failing to make any material entry in its books and account;
(2)knowingly concurs in making or publishing any written report, exhibit, or statement of its affairs or pecuniary condition containing any material statement that is false; or
(3)having the custody of control of its books, willfully refuses or neglects to make a proper entry in the books of that mutual association as required by law, to exhibit the books, or to allow the books to be inspected and extracts to be taken from them by the department.