Montana § 32-3-608 - Loans To Officials
Full text of Montana Montana Code Annotated § 32-3-608 — Loans To Officials, with citation guidance and answers to common questions.
§ 32-3-608. Loans To Officials
Loans to officials. (1) (a) Except as provided in subsection (1)(b), a credit union may make loans to its officials if: (i) the loan complies with the requirements of this chapter with respect to loans to other borrowers and is not on terms more favorable than those extended to other borrowers; and (ii) the loan or aggregate of loans to any one official that exceeds $20,000 plus pledged shares is reported to the board of directors. Loans to officials may not exceed an aggregate of 20% of unimpaired capital of the credit union. (b) Employees other than officials may receive loans more favorable than those extended to other borrowers, including low-interest or no-interest loans. (2) A credit union may permit directors, loan officers, the credit manager, and members of its supervisory and credit committees to act as comakers, guarantors, or endorsers of loans to other members. If the loan standing alone or when added to any outstanding loan or loans to the comaker, guarantor, or endorser exceeds $20,000, a report to the board of directors is required.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 32-3-608
What does Montana Code Annotated § 32-3-608 cover?
Section 32-3-608 ("Loans To Officials") 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 § 32-3-608?
A common citation format is "Montana Code Annotated § 32-3-608" (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 § 32-3-608 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.