(1) In order to ensure that the business of a foreign capital depository will be conducted in accordance with the intent of the act and to protect the privacy and other interests of depositors, the board shall deny a charter application if it finds that a person planning to own, operate or manage the foreign capital depository is not of good character or financial integrity, or if the applicant for a charter is not adequately prepared to comply with or ensure compliance with Montana law or federal law and regulations relating to money laundering and other financial crimes or is not financially sound.

(2) The board authorizes the commissioner and designated personnel of the division of banking and financial institutions to gather all available information relative to an application filed with the commissioner pursuant to ARM 2.60.802, including such background information and information regarding any of the applicant's incorporators, stockholders, directors, officers, controlling persons or other persons associated with the application as the commissioner or designated division personnel may deem prudent or appropriate.   Information so gathered must be reported to the board in such form and in such manner as the board directs.   The commissioner is also authorized to make, or cause to be made, such investigations determined to be warranted under the existing circumstances and must make the information obtained available to the board.

(3) Notwithstanding any other provisions of this rule or the act, final determination to grant, conditionally or otherwise or deny any application for a charter, shall be in the sole discretion of the board.   The board may grant a charter to an applicant unconditionally or upon such terms and conditions (financial or otherwise) as the board deems prudent or appropriate.