32-1-221. Regional banking organizations -- department authority. (1) Notwithstanding 32-1-211(2)(b), the department shall submit to a regional banking organization a report of the examination findings no later than 90 days after the completion of the examination.
(2) The department has the same examination authority over the bank holding company of a regional banking organization as the department has over the regional banking organization.
(3) The department may:
(a) participate in examinations of bank holding companies of regional banking organizations with federal financial institution regulatory agencies and one or more state's financial regulatory departments; and
(b) take an enforcement action against the bank holding company of a regional banking organization pursuant to this chapter if the department considers the action to be necessary or appropriate to carry out its responsibilities under this chapter or to ensure compliance with the laws of this state.
(4) Notwithstanding 32-1-322, at least one-third of the board of directors of a regional banking organization must be residents of Montana.
History: En. Sec. 1, Ch. 75, L. 2019.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.