Montana Statutes
§ 32-2-1106 — Closed Savings Institutions Empowered To Borrow From Corporation
Montana·Title 32 FINANCIAL INSTITUTIONS·Ch. 2 MUTUAL SAVINGS AND LOAN ASSOCIATIONS·Part 11 Federal Deposit Insurance Corporation
32-2-1106 . Closed savings institutions empowered to borrow from corporation.
(1)If a savings institution is closed on account of the savings institution's inability to meet the demands of its depositors, by action of the department, by action of its directors, or in the event of its insolvency or suspension, the department or the department's agent may borrow from the corporation and furnish any of the assets of the savings institution to the corporation as security for a loan from the corporation. The department may sell to the corporation any part or all of the assets of the savings institution.
(2)The provisions of this section do not limit the power of a savings institution or the department to pledge or sell assets in accordance with any existing law.
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Montana § 32-2-1106 (Closed Savings Institutions Empowered To Borrow From Corporation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 122, Ch. 431, L. 2021.
Nearby Sections
15
§ 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§ 32-2-1007
Corporate Existence -- Cessation§ 32-2-101
Repealed§ 32-2-1010
Resumption After Closing§ 32-2-1013
Department May Retain Mutual Association Employees -- Liquidating Agent's Salary And Expenses§ 32-2-1014
Compensation Of Agents And Attorneys