Montana § 32-1-511 Bank May Be Placed In Department's Possession

Montana Statutes

§ 32-1-511 — Bank May Be Placed In Department's Possession

Montana § 32-1-511

Title 32FINANCIAL INSTITUTIONS

Ch. 1BANKS AND TRUST COMPANIES

Part 5Dissolution, Closing, and Liquidation

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Bluebook

Mont. Code Ann. § 32-1-511 (2026).

Text

32-1-511 . Bank may be placed in department's possession. A bank may place its affairs and assets under the control and in the possession of the department by posting a notice on the front door of the bank indicating that it is in the possession of the department. The notice shall be signed by a majority of the directors in office of the bank. Immediately upon the posting of the notice by a bank, it shall notify the department of its action.

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32-1-511 . Bank may be placed in department's possession. A bank may place its affairs and assets under the control and in the possession of the department by posting a notice on the front door of the bank indicating that it is in the possession of the department. The notice shall be signed by a majority of the directors in office of the bank. Immediately upon the posting of the notice by a bank, it shall notify the department of its action.