2.59.2002    PERSUASIVE SHOWING OF REASONABLE PUBLIC NECESSITY AND DEMAND

(1)  In determining whether a reasonable public necessity and demand is established in any case, the department requires that these words be given a meaning which will promote the public interest of the community as a whole in having a sound banking structure, reasonably competitive and adequate for the needs of the community. 

(2)  In making this determination the following are among the factors which the department may consider:

(a)  the number of mutual associations already serving the area in which the proposed mutual association would locate;

(b)  the size of the area;

(c)  the population of the area;

(d)  the wealth of residents of the area;

(e)  the commercial and industrial development of the area;

(f)  the socioeconomic trends of the area;

(g)  the adequacy of the services being provided by existing mutual associations compared to the needs of residents and the services to be offered by the proposed mutual association, including a detailed list of banking services that will be offered the community to be served by the new mutual association;

(h)  the capability of existing mutual associations to handle potential growth of the area;

(i)  the convenience of the location of existing mutual associations to residents of the area as compared to convenience of the proposed mutual association;

(j)  the size of financial institutions in the area;

(k)  the history of financial institutions in the area;

(l)  an indication of the support the proposed mutual association could reasonably expect to receive from representative segments of the businesses and residents of the area; and

(m)  the probability of the success of the proposed mutual association.

 

History: 32-2-801, MCA; IMP, 32-2-801, MCA; NEW, 2022 MAR p. 230, Eff. 2/12/22.