Montana Code 32-1-106. Savings bank defined
32-1-106. Savings bank defined. The term “savings bank” means a bank organized only for the purpose of accumulating and loaning the funds of its members, stockholders, and depositors and which may:
Terms Used In Montana Code 32-1-106
- 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
- Property: means real and personal property. See Montana Code 1-1-205
(1)loan and invest the funds thereof;
(2)receive deposits of money; loan, invest, and collect the same with interest; and repay depositors with or without interest;
(3)sell credit life and disability insurance on loans to its borrowers;
(4)invest said funds and moneys in such property, securities, and obligations as may be prescribed by this chapter; and
(5)declare and pay:
(a)dividends on its general deposits; and
(b)a stipulated rate of interest on deposits made for a stated period or upon special terms.