Montana Statutes
§ 32-1-511 — Bank May Be Placed In Department's Possession
Montana·Title 32 FINANCIAL INSTITUTIONS·Ch. 1 BANKS AND TRUST COMPANIES·Part 5 Dissolution, Closing, and Liquidation
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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Legislative History
En. Sec. 123, Ch. 89, L. 1927; re-en. Sec. 6014.133, R.C.M. 1935; amd. Sec. 45, Ch. 431, L. 1975; R.C.M. 1947, 5-1103.
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Repealed§ 32-1-105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