Montana § 32-2-931 Persons Previously Convicted -- Rulemaking

Montana Statutes

§ 32-2-931 — Persons Previously Convicted -- Rulemaking

Montana·Title 32 FINANCIAL INSTITUTIONS·Ch. 2 MUTUAL SAVINGS AND LOAN ASSOCIATIONS·Part 9 Operation and Regulation

32-2-931 . Persons previously convicted -- rulemaking.

(1)Unless the commissioner provides written consent:

(a)a person who has been convicted of a criminal offense involving dishonesty or a breach of trust or money laundering or who has agreed to enter into a pretrial diversion or similar program in connection with a prosecution for such an offense may not:

(i)become or continue as an institution-affiliated party with respect to any mutual association;

(ii)own or control, directly or indirectly, any mutual association; or

(iii)otherwise participate, directly or indirectly, in the conduct of the affairs of any mutual association; and

(b)a mutual association may not permit any person referred to in subsection (1)(a) to engage in any conduct or continue any relationship prohibited unde

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32-2-931 . Persons previously convicted -- rulemaking. (1) Unless the commissioner provides written consent:
(a) a person who has been convicted of a criminal offense involving dishonesty or a breach of trust or money laundering or who has agreed to enter into a pretrial diversion or similar program in connection with a prosecution for such an offense may not:
(i) become or continue as an institution-affiliated party with respect to any mutual association;
(ii) own or control, directly or indirectly, any mutual association; or
(iii) otherwise participate, directly or indirectly, in the conduct of the affairs of any mutual association; and
(b) a mutual association may not permit any person referred to in subsection (1)(a) to engage in any conduct or continue any relationship prohibited under subsection (1)(a).
(2) A person who knowingly violates subsection (1)(a) is subject to the penalties in 32-2-607 (5).
(3) The commissioner may adopt rules to implement this section.

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