These legal documents cover various aspects of credit unions in Montana. They govern the retention of records by credit unions, including member account records and other types of records. Credit unions must comply with the minimum retention periods specified in the ‘Montana Credit Union Records Retention Schedule’ publication. The documents also outline the requirements for credit unions offering debt cancellation contracts and/or debt suspension agreements, including risk management, financial reporting, and insurance coverage.

This legal document, part of the Administrative Rules of Montana, governs the establishment and operation of branch banks and loan production offices. It provides definitions for key terms used in the subchapter, such as ‘consolidate’, ‘customer’, ‘principal city’, ‘relocate’, and ‘short distance’. The document outlines the requirements for banks to provide written notice to the department at least thirty days prior to opening a loan production office. It also specifies that banks must give notice to customers if they desire to relocate or close a loan production office temporarily or permanently.

This document governs the reserve requirements for banks. In order to act as a reserve bank, a bank must have unimpaired paid-up capital and surplus of at least $1,000,000. The bank also needs to receive written approval from the department. Approved reserve banks must maintain a reserve in the amount required by Federal Reserve Board regulations, as well as an additional reserve balance equal to at least 10% of bank deposits.

This document governs loans made to managing officers, officers, directors, or principal shareholders of a bank. It applies to managing officers, officers, directors, employees, and principal shareholders of a bank. The document specifies that any loan made before October 1, 1993, and in compliance with state law at the time, is considered legal throughout its term unless renewed, modified (except for periodic interest rate adjustments), or the security for the loan is changed (except for agreed-upon substitutions or deletions at origination).

This provision outlines the duties of the supervisory committee in credit unions. The supervisory committee is responsible for verifying internal controls, overseeing inspections of securities and accounts, reviewing credit union operations and financial condition, and ensuring compliance with laws and regulations. They also review the actions of the board of directors, officers, and committees to ensure firm control and understanding of their roles. Additionally, the supervisory committee assesses the effects of new policies and changes to procedures on the safety of members’ funds and monitors compliance programs related to the Bank Secrecy Act and the Money Laundering Control Act.

This rule has been repealed. History: 32-6-401 , MCA; IMP , 32-6-304 , MCA; NEW , 1994 MAR p. 1143, Eff. 4/29/94; TRANS , from Commerce, 2001 MAR p. 1178; REP , 2010 MAR p. 213, Eff. 1/29/10.

The provided legal document content covers various aspects related to the organization and operation of the state banking board in Montana. It outlines the application procedures for obtaining a certificate of authorization for a state-chartered bank, including the required forms, fees, and evidence to be presented. The document also provides procedural rules for the discovery and hearing processes related to banking applications and protests, incorporating the Attorney General’s model rules and allowing for prehearing discovery procedures.

This section of the Administrative Rules of Montana, under the Montana State Lottery Commission, governs the redemption and payment of prizes for winning lottery and sports wager tickets. It specifies the procedures for redeeming tickets based on their value, acceptable forms of identification, and the requirement to sign the back of winning tickets. The document also outlines the circumstances under which a claim for a winning ticket may be denied, such as if the ticket was not legally issued, stolen, or altered.

This legal document governs the establishment and management of sports wagering accounts in Montana. It specifies that only players with a sports wagering account can engage in mobile sports wagering, while the lottery can accept wagers at a sports wagering facility without the need for an account. The document outlines the requirements for creating an account, verifying the player’s identity and eligibility, funding methods, and conditions for account suspension or closure.

The Sales Agent Rules govern the sale of lottery tickets or chances and the offering of sports wagering at businesses in Montana. To be eligible to sell lottery tickets or chances, a business must meet certain criteria, including being licensed by the lottery, not being exclusively engaged in lottery ticket or chance sales, being financially responsible, accessible to the public, meeting ADA standards, having an owner without felony or gambling-related convictions, and having an owner without a financial interest in any gaming supplier.