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Can you summarize MTAR 2.59, Subchapter 10?
BANKING AND FINANCIAL INSTITUTIONS > Merge Affiliated Banks
Short Summary
This legal document outlines the requirements and procedures for merging banks in Montana. It applies to individuals or entities seeking to merge one or more banks located in Montana or merge two or more banks doing business in the state. The document specifies the form and content of the merger application, including the need for confidential treatment of certain information. It also provides instructions for providing notice, listing directors and executive officers, and submitting required documents such as resolutions, financial statements, and proposed articles of merger and plan of merger. The document further mentions the application fee and the timeline for approval or denial of merger applications by the Montana Division of Banking and Financial Institutions.
Whom does it apply to?
Individuals or entities seeking to merge one or more banks located in Montana or merge two or more banks doing business in the state
What does it govern?
Merging banks in Montana
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Montana