Montana § 32-3-305 Societies -- Associations

Montana Statutes

§ 32-3-305 — Societies -- Associations

Montana § 32-3-305

Title 32FINANCIAL INSTITUTIONS

Ch. 3CREDIT UNIONS

Part 3Organization, Membership, and Dissolution

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Bluebook

Mont. Code Ann. § 32-3-305 (2026).

Text

32-3-305 . Societies -- associations.

(1)Societies and partnerships composed primarily of individuals who are eligible for membership and corporations whose stockholders are composed primarily of such individuals may be admitted to membership in the same manner and under the same conditions as individuals.

(2)No loan may be made to any member society, partnership, or corporation in an aggregate amount that is in excess of 5% of the credit union's shares and retained earnings. Total loans to member societies, partnerships, and corporations is limited to an aggregate amount of 15% of the credit union's shares and retained earnings.

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32-3-305 . Societies -- associations. (1) Societies and partnerships composed primarily of individuals who are eligible for membership and corporations whose stockholders are composed primarily of such individuals may be admitted to membership in the same manner and under the same conditions as individuals.
(2) No loan may be made to any member society, partnership, or corporation in an aggregate amount that is in excess of 5% of the credit union's shares and retained earnings. Total loans to member societies, partnerships, and corporations is limited to an aggregate amount of 15% of the credit union's shares and retained earnings.