Montana § 32-3-1004 Penalty For Fraud By Director, Executive Officer, Agent, Or Employee

Montana Statutes

§ 32-3-1004 — Penalty For Fraud By Director, Executive Officer, Agent, Or Employee

Montana § 32-3-1004

Title 32FINANCIAL INSTITUTIONS

Ch. 3CREDIT UNIONS

Part 10Penalties

This text of Montana § 32-3-1004 (Penalty For Fraud By Director, Executive Officer, Agent, Or Employee) 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. § 32-3-1004 (2026).

Text

32-3-1004 . Penalty for fraud by director, executive officer, agent, or employee.

(1)The department of administration may impose the penalty described in subsection (2) if a director, an executive officer, an agent, or an employee of a credit union:

(a)(i) knowingly receives or takes possession of any credit union property, except in payment for a just demand; and

(ii)with the intent to defraud fails to make or to cause or direct to be made a full and true entry of the receipt or possession in its books and accounts or concurs in failing to make a material entry in its books and account;

(b)knowingly concurs in making or publishing a written report, exhibit, or statement of its affairs or pecuniary condition containing any material statement that is false; or

(c)having the custody or

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32-3-1004 . Penalty for fraud by director, executive officer, agent, or employee. (1) The department of administration may impose the penalty described in subsection (2) if a director, an executive officer, an agent, or an employee of a credit union:
(a) (i) knowingly receives or takes possession of any credit union property, except in payment for a just demand; and
(ii) with the intent to defraud fails to make or to cause or direct to be made a full and true entry of the receipt or possession in its books and accounts or concurs in failing to make a material entry in its books and account;
(b) knowingly concurs in making or publishing a written report, exhibit, or statement of its affairs or pecuniary condition containing any material statement that is false; or
(c) having the custody or control of the credit union's books, willfully refuses or neglects to make a proper entry in the credit union's books as required by law, to exhibit the books, or to allow the books to be inspected and allow extracts to be taken from the books by the department.
(2) An individual who is found guilty or pleads guilty to a charge under subsection (1) may be imprisoned in a state correctional facility for a term not exceeding 5 years or be fined by the department an amount not to exceed $10,000, or both.