§ 32-1-501 Dissolution and disincorporation
§ 32-1-502 Grounds for closing bank
§ 32-1-503 Bank insolvent when
§ 32-1-504 Deposits in insolvent bank
§ 32-1-505 Penalty for receiving deposits when insolvent or for making false statements
§ 32-1-506 Assessment on capital stock to make good impairment
§ 32-1-507 Power of closed banks to borrow money from governmental agencies
§ 32-1-508 Corporate existence — ceases when
§ 32-1-509 Taxes on banks which have ceased to do business
§ 32-1-510 Penalty for maliciously declaring bank insolvent
§ 32-1-511 Bank may be placed in department’s possession
§ 32-1-512 Effect of posting notice
§ 32-1-513 Taking possession of bank — notice
§ 32-1-514 Resumption after closing
§ 32-1-515 Powers of department on closing bank — court proceedings
§ 32-1-516 Recourse of aggrieved bank — injunction
§ 32-1-517 Department may retain bank employees — liquidating agent’s salary and expenses
§ 32-1-518 Compensation of agents and attorneys
§ 32-1-531 Notice to creditors of insolvent bank
§ 32-1-532 Claims — allowance and rejection
§ 32-1-533 Payment of claims
§ 32-1-534 Claims — order of payment — priorities
§ 32-1-535 Claims — partial payments — assignments
§ 32-1-536 Deposit of funds in department’s hands
§ 32-1-537 Disposition of unclaimed funds
§ 32-1-538 Disposition of assets remaining after payment of claims
§ 32-1-551 Liquidating officer’s powers and duties
§ 32-1-552 Further duties of liquidating officer
§ 32-1-553 Department to file inventory — report required — exception
§ 32-1-561 Definitions
§ 32-1-562 Power of department
§ 32-1-563 Powers of officers
§ 32-1-564 Notice of bank closing
§ 32-1-565 Effect of closing
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Terms Used In Montana Code > Title 32 > Chapter 1 > Part 5 - Dissolution, Closing, and Liquidation

  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • bank: as used in this chapter means any corporation that has been incorporated to conduct the business of receiving money on deposit or transacting a trust or investment business, as defined in this chapter. See Montana Code 32-1-102
  • Branch: means :

    (a)in the case of a bank, a banking house, other than the main banking house, maintained and operated by a bank doing business in the state and at which deposits are received, checks are paid, or money is lent. See Montana Code 32-1-109

  • Chambers: A judge's office.
  • Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Control: means :

    (a)ownership of, authority over, or power to vote, directly or indirectly, 25% or more of any class of voting security;

    (b)authority in any manner over the election of a majority of directors; or

    (c)power to exercise, directly or indirectly, a controlling influence over management and policies. See Montana Code 32-1-109

  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Department: means the department of administration provided for in Title 2, chapter 15, part 10. See Montana Code 32-1-109
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Knowingly: means only a knowledge that the facts exist which bring the act or omission within the provisions of this code. See Montana Code 1-1-204
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Process: means a writ or summons issued in the course of judicial proceedings. See Montana Code 1-1-202
  • Property: means real and personal property. See Montana Code 1-1-205
  • Several: means two or more. See Montana Code 1-1-201
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
  • Summons: Another word for subpoena used by the criminal justice system.
  • Surplus: means a fund paid in or created under this chapter by a bank from its net earnings or undivided profits that, when set apart and designated as surplus, is not available for the payment of dividends and cannot be used for the payment of expenses or losses so long as the bank has undivided profits. See Montana Code 32-1-109
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • Undivided profits: means the credit balance of the profit and loss account of a bank. See Montana Code 32-1-109
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • United States: includes the District of Columbia and the territories. See Montana Code 1-1-201
  • Venue: The geographical location in which a case is tried.
  • Willfully: when applied to the intent with which an act is done or omitted, means a purpose or willingness to commit the act or make the omission referred to. See Montana Code 1-1-204
  • Writing: includes printing. See Montana Code 1-1-203