Montana Statutes
§ 32-1-106 — Savings Bank Defined
Montana·Title 32 FINANCIAL INSTITUTIONS·Ch. 1 BANKS AND TRUST COMPANIES·Part 1 General Provisions -- Definitions
32-1-106 . Savings bank defined. The term "savings bank" means a bank organized only for the purpose of accumulating and loaning the funds of its members, stockholders, and depositors and which may:
(1)loan and invest the funds thereof;
(2)receive deposits of money; loan, invest, and collect the same with interest; and repay depositors with or without interest;
(3)sell credit life and disability insurance on loans to its borrowers;
(4)invest said funds and moneys in such property, securities, and obligations as may be prescribed by this chapter; and
(5)declare and pay:
(a)dividends on its general deposits; and
(b)a stipulated rate of interest on deposits made for a stated period or upon special terms.
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Legislative History
En. Subd. b, Sec. 4, Ch. 89, L. 1927; re-en. Sec. 6014.5, R.C.M. 1935; R.C.M. 1947, 5-105; amd. Sec. 2, Ch. 129, L. 1981.
Nearby Sections
15
§ 32-1-1001
Definition Of Foreign Trust Company§ 32-1-1002
Appointment Of Foreign Trust Companies§ 32-1-1004
Service Of Process§ 32-1-1005
Bond§ 32-1-1006
Rights And Duties§ 32-1-1007
Solicitation Of Business§ 32-1-101
Short Title -- Application -- Purpose§ 32-1-103
Repealed§ 32-1-105
Commercial Bank Defined§ 32-1-106
Savings Bank Defined