Montana § 32-2-924 - Reserve Requirements
Full text of Montana Montana Code Annotated § 32-2-924 — Reserve Requirements, with citation guidance and answers to common questions.
§ 32-2-924. Reserve Requirements
Reserve requirements. (1) A mutual association shall maintain at all times a reserve of that percentage of its deposit liabilities as required by the appropriate federal regulator. (2) The department may establish reserve requirements if the federal regulator discontinues reserve requirements. (3) A mutual association whose reserve drops below the legal requirements shall report the matter to the department immediately and as often as the department asks for a report. (4) When the reserve of a mutual association falls below the legal requirements, the mutual association may not increase its loans or discounts except by discounting or purchasing bill of exchange payable at sight or on demand, and the department shall notify a mutual association whose reserve is below the amount required to make good the reserve. (5) In arriving at deposit liabilities with regard to mutual association deposits, the net balance of amounts due to and from other financial institutions must be used as the basis for ascertaining the deposit liability to mutual associations against which reserves are carried.
Frequently Asked Questions About Montana § 32-2-924
What does Montana Code Annotated § 32-2-924 cover?
Section 32-2-924 ("Reserve Requirements") is part of the Montana Code Annotated, the codified statutory law of Montana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Montana § 32-2-924?
A common citation format is "Montana Code Annotated § 32-2-924" (Montana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 32-2-924 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Montana.