Terms Used In Montana Code > Title 32 > Chapter 2 > Part 6 - General Provisions

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Capital: means , with respect to a mutual association:

  (a)retained earnings; or

  (b)at the discretion of the commissioner, any other form of capital, subject to any applicable federal and state laws. See Montana Code 32-2-603

• Commissioner: means the commissioner of banking and financial institutions as provided in 32-1-211. See Montana Code 32-2-603
• 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 2-15-1001. See Montana Code 32-2-603
• Deposit: has the meaning provided in 12 C. See Montana Code 32-2-603
• Division: means the division of banking and financial institutions of the department. See Montana Code 32-2-603
• 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.
• Fiduciary: A trustee, executor, or administrator.
• Insured depository institution: means a bank or savings association in which the deposits are insured by the federal deposit insurance corporation. See Montana Code 32-2-603
• 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.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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
• 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
• savings and loan association: means a savings association or savings bank organized under the laws of the United States or a building and loan association, savings and loan association, or similar entity organized under the laws of a state. See Montana Code 32-2-603
• 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
• United States: includes the District of Columbia and the territories. See Montana Code 1-1-201