Terms Used In Montana Code > Title 32 > Chapter 1 > Part 2 - State-Chartered Banks and Functions ofDepartment of Administration

• Affiliate: has the meaning given in 12 U. See Montana Code 32-1-109
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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
• Bank holding company: means a bank holding company or a financial holding company registered under the federal Bank Holding Company Act of 1956, as amended, regardless of where the entity is located or has its headquarters. See Montana Code 32-1-109
• 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

• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Department: means the department of administration provided for in Title 2, chapter 15, part 10. See Montana Code 32-1-109
• Depository institution: means a bank or savings association organized under the laws of a state or the United States. See Montana Code 32-1-109
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Division: means the division of banking and financial institutions of the department. See Montana Code 32-1-109
• Doing business in this state: means located in this state or having a physical branch bank location in this state. See Montana Code 32-1-109
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• 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.
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• 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.
• Loan production office: means a staffed facility, other than a branch, that provides lending-related services to the public, including loan information and applications. See Montana Code 32-1-109
• Net earnings: means the excess of the gross earnings of a bank over expenses and losses chargeable against those earnings during any 1 year. See Montana Code 32-1-109
• Oath: A promise to tell the truth.
• Oath: includes an affirmation or declaration. See Montana Code 1-1-201
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
• 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
• Regional banking organization: means a bank organized in this state that is owned by an entity with consolidated total assets between $10 billion and $50 billion and that has subsidiaries operating in one or more states but not nationwide. See Montana Code 32-1-109
• Service provider: means an individual or person that provides one or more of the following services to a depository institution:

  (i)data processing services;

  (ii)activities supporting financial services, including but not limited to lending, funds transfer, fiduciary activities, trading activities, and deposit taking;

  (iii)internet-related services, including but not limited to web services and electronic bill payments, mobile applications, system and software development and maintenance, and security monitoring; and

  (iv)activities related to the business of banking. See Montana Code 32-1-109

• Shell bank: means a bank organized solely for the purpose of, and that does not conduct any banking business prior to, acquiring control of, merging with, or acquiring all or substantially all of the assets of an existing bank or savings association. See Montana Code 32-1-109
• 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
• Subpoena: A command to a witness to appear and give testimony.
• Subsidiary: means a company 25% or more of whose voting shares or equity interests are owned and controlled by a bank. See Montana Code 32-1-109
• United States: includes the District of Columbia and the territories. See Montana Code 1-1-201
• 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