Montana Code 32-2-1008. Taxes on mutual associations that have ceased to do business
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32-2-1008. Taxes on mutual associations that have ceased to do business. Whenever a mutual association ceases to do business as a mutual association, taxes may not be levied or collected in accordance with the laws governing the assessment of mutual associations but its property must be assessed in accordance with the laws governing the assessment of similar property of private corporations.
Terms Used In Montana Code 32-2-1008
- Mutual association: means any corporation that has been incorporated to conduct the business of receiving money on deposit from its members and making substantially all of its loans on one-to-four family real estate mortgage security. See Montana Code 32-2-603
- Property: means real and personal property. See Montana Code 1-1-205