Montana § 32-2-1106 Closed Savings Institutions Empowered To Borrow From Corporation

Montana Statutes

§ 32-2-1106 — Closed Savings Institutions Empowered To Borrow From Corporation

Montana § 32-2-1106

Title 32FINANCIAL INSTITUTIONS

Ch. 2MUTUAL SAVINGS AND LOAN ASSOCIATIONS

Part 11Federal Deposit Insurance Corporation

This text of Montana § 32-2-1106 (Closed Savings Institutions Empowered To Borrow From Corporation) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 32-2-1106 (2026).

Text

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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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.