BEFORE THE DEPARTMENT OF ADMINISTRATION

                                          OF THE STATE OF MONTANA

 

In the matter of the adoption of New Rules I and II pertaining to application for organizing a new credit union and annual report forms

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NOTICE OF PROPOSED ADOPTION   NO PUBLIC HEARING CONTEMPLATED

 

TO: All Concerned Persons

 

1. On March 13, 2021, the Department of Administration proposes to adopt the above-stated rules.

 

2. The Department of Administration will make reasonable accommodations for persons with disabilities who wish to participate in this rulemaking process or need an alternative accessible format of this notice. If you require an accommodation, contact the Department of Administration no later than 5:00 p.m. on February 10, 2021, to advise us of the nature of the accommodation that you need. Please contact Heather Hardman, Division of Banking and Financial Institutions, P.O. Box 200546, Helena, Montana 59620-0546; telephone (406) 841-2922; TDD (406) 841-2974; facsimile (406) 841-2930; or e-mail to [email protected].

 

3. The rules proposed to be adopted provide as follows:

 

NEW RULE I ORGANIZING A NEW CREDIT UNION (1) An applicant seeking to organize a new state-chartered credit union shall complete the Application for a Certificate of Approval to Organize a New Montana Credit Union dated December 14, 2020, which is adopted and incorporated by reference and available on the department's website at banking.mt.gov.

 

AUTH: 32-3-201, MCA

IMP: 32-3-201, 32-3-301, MCA

 

GENERAL STATEMENT OF REASONABLE NECESSITY: As part of the required biennial review of rules, the department identified three forms that had not been formally adopted into rule: the Application for a Certificate of Approval to Organize a New Montana Credit Union, the Report of Credit Union Management form, and the Liabilities of Directors and Committee Members form. These forms have been used by the department for years but had not been formally adopted.

 

NEW RULE II ANNUAL REPORTS (1)  The Report of Credit Union Management form dated December 14, 2020, is adopted and incorporated by reference and available on the department's website at banking.mt.gov.

(2) The Liabilities of Directors and Committee Members form dated December 14, 2020, is adopted and incorporated by reference and available on the department's website at banking.mt.gov.

 

AUTH: 32-3-201, MCA

IMP: 32-3-201, 32-3-202, 32-3-404, MCA

 

4. Concerned persons may present their data, views, or arguments concerning the proposed action to Kelly O'Sullivan, Legal Counsel, Division of Banking and Financial Institutions, P.O. Box 200546, Helena, Montana 59620-0546; faxed to the office at (406) 841-2930; or e-mailed to [email protected]. Comments must be received no later than 5:00 p.m., February 26, 2021.

 

5. If persons who are directly affected by the proposed actions wish to express their data, views, or arguments orally or in writing at a public hearing, they must make written request for a hearing and submit this request along with any written comments to the person listed in 4 above no later than 5:00 p.m., February 10, 2021.

 

6. If the Division of Banking and Financial Institutions receives requests for a public hearing on the proposed action from either 10 percent or 25, whichever is less, of the persons directly affected by the proposed action; from the appropriate administrative rule review committee of the Legislature; from a governmental subdivision or agency; or from an association having not less than 25 members who will be directly affected, a hearing will be held at a later date. Notice of the hearing will be published in the Montana Administrative Register. Ten percent of those directly affected has been determined to be 1 person based on the 10 state-chartered credit unions.

 

7. An electronic copy of this proposal notice is available through the department's website at http://doa.mt.gov/administrativerules. The department strives to make its online version of the notice conform to the official published version but advises all concerned persons that if a discrepancy exists between the official version and the department's online version, only the official text will be considered. In addition, although the department works to keep its website accessible at all times, concerned persons should be aware that the website may be unavailable during some periods, due to system maintenance or technical problems.

 

8. The Division of Banking and Financial Institutions maintains a list of interested persons who wish to receive notices of rulemaking actions proposed by this division. Persons who wish to have their name added to the mailing list shall make a written request that includes the name, mailing address, and e-mail address of the person to receive notices and specifies that the person wishes to receive notices regarding division rulemaking actions. Notices will be sent by e-mail unless a mailing preference is noted in the request. Such written requests may be mailed or delivered to Heather Hardman, Division of Banking and Financial Institutions, 301 S. Park, Ste. 316, P.O. Box 200546, Helena, Montana 59620-0546; faxed to the office at (406) 841-2930; e-mailed to [email protected]; or may be made by completing a request form at any rules hearing held by the department.

 

9. The bill sponsor contact requirements of 2-4-302, MCA, do not apply.

 

10. The department has determined that under 2-4-111, MCA, the proposed adoption of the above-stated rules will not significantly and directly impact small businesses.

 

 

By:   /s/ Michael P. Manion                              By:   /s/ Don Harris                             

Michael P. Manion, Acting Director                 Don Harris, Rule Reviewer

Department of Administration                          Department of Administration

 

Certified to the Secretary of State January 19, 2021.