§ 32-2-1001 Dissolution and disincorporation
§ 32-2-1002 Grounds for closing mutual association
§ 32-2-1003 When mutual association insolvent
§ 32-2-1004 Deposits in insolvent mutual associations
§ 32-2-1005 Penalty for receiving deposits when insolvent or for making false statement
§ 32-2-1006 Power of closed mutual associations to borrow money from governmental agencies
§ 32-2-1007 Corporate existence — cessation
§ 32-2-1008 Taxes on mutual associations that have ceased to do business
§ 32-2-1009 Penalty for maliciously declaring mutual association insolvent
§ 32-2-1010 Resumption after closing
§ 32-2-1011 Powers of department on closing mutual association — court proceedings
§ 32-2-1012 Recourse of aggrieved mutual association — injunction
§ 32-2-1013 Department may retain mutual association employees — liquidating agent’s salary and expenses
§ 32-2-1014 Compensation of agents and attorneys
§ 32-2-1015 Notice to creditors of insolvent mutual association
§ 32-2-1016 Claims — allowance and rejection
§ 32-2-1017 Payment of claims
§ 32-2-1018 Claims — order of payment — priorities
§ 32-2-1019 Claims — partial payments — assignments
§ 32-2-1020 Deposit of funds in department’s hands
§ 32-2-1021 Disposition of unclaimed funds
§ 32-2-1022 Disposition of assets remaining after payment of claims
§ 32-2-1023 Further duties of liquidating officer
§ 32-2-1024 Department to file inventory — report required — exception
§ 32-2-1030 Definitions
§ 32-2-1031 Power of department
§ 32-2-1032 Powers of officers
§ 32-2-1033 Notice of mutual association closing
§ 32-2-1034 Effect of closing

Terms Used In Montana Code > Title 32 > Chapter 2 > Part 10 - Dissolution, Closing, and Liquidation

  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Capital: means , with respect to a mutual association:

    (a)retained earnings; or

    (b)at the discretion of the commissioner, any other form of capital, subject to any applicable federal and state laws. See Montana Code 32-2-603

  • Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Department: means the department of administration provided for in 2-15-1001. See Montana Code 32-2-603
  • Deposit: has the meaning provided in 12 C. See Montana Code 32-2-603
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Federal savings association: means a federal savings and loan association or a federal savings bank doing business under authority granted by the office of the comptroller of the currency or the former office of thrift supervision. See Montana Code 32-2-603
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Knowingly: means only a knowledge that the facts exist which bring the act or omission within the provisions of this code. See Montana Code 1-1-204
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Member: means all holders of the mutual association's savings, demand, including other authorized members on accounts. See Montana Code 32-2-603
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Process: means a writ or summons issued in the course of judicial proceedings. See Montana Code 1-1-202
  • Property: means real and personal property. See Montana Code 1-1-205
  • 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
  • Summons: Another word for subpoena used by the criminal justice system.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • United States: includes the District of Columbia and the territories. See Montana Code 1-1-201
  • Venue: The geographical location in which a case is tried.
  • 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
  • Writing: includes printing. See Montana Code 1-1-203