BEFORE THE Department of ADMINISTRATION

OF THE STATE OF MONTANA

 

In the matter of the adoption of New Rules I through LI pertaining to mutual savings and loan associations and the repeal of ARM 2.59.201 pertaining to savings and loan associations – real estate and 2.59.202 pertaining to examination and supervisory fees for savings and loan associations

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NOTICE OF ADOPTION AND REPEAL

 

TO:  All Concerned Persons

 

1.  On December 23, 2021, the Department of Administration published MAR Notice No. 2-59-615 pertaining to the public hearing on the proposed adoption and repeal of the above-stated rules at page 1827 of the 2021 Montana Administrative Register, Issue Number 24.

 

2. The department has adopted the following rules as proposed: 

 

NEW RULE II (2.59.2002)              NEW RULE III (2.59.2003)

NEW RULE IV (2.59.2004)            NEW RULE V (2.59.2005)

NEW RULE VI (2.59.2006)            NEW RULE VII (2.59.2009)

NEW RULE VIII (2.59.2010)          NEW RULE IX (2.59.2013)

NEW RULE X (2.59.2014)             NEW RULE XI (2.59.2017)

NEW RULE XII (2.59.2018)           NEW RULE XIII (2.59.2021)

NEW RULE XIV (2.59.2022)          NEW RULE XV (2.59.2023)

NEW RULE XXIV (2.59.2034)       NEW RULE XXV (2.59.2035)

NEW RULE XXVI (2.59.2036)       NEW RULE XXVII (2.59.2037)

NEW RULE XXVIII (2.59.2040)     NEW RULE XXIX (2.59.2041)

NEW RULE XXX (2.59.2042)        NEW RULE XXXI (2.59.2043)

NEW RULE XXXII (2.59.2044)      NEW RULE XXXIII (2.59.2045)

NEW RULE XXXIV (2.59.2046)    NEW RULE XXXV (2.59.2047)

NEW RULE XXXVI (2.59.2048)    NEW RULE XXXVII (2.59.2051)

NEW RULE XXXVIII (2.59.2052)   NEW RULE XXXIX (2.59.2053)

NEW RULE XL (2.59.2054)           NEW RULE XLI (2.59.2055)

NEW RULE XLII (2.59.2056)         NEW RULE XLIII (2.59.2057)

NEW RULE XLIV (2.59.2058)       NEW RULE XLV (2.59.2061)

NEW RULE XLVI (2.59.2062)       NEW RULE XLVII (2.59.2063)

NEW RULE XLVIII (2.59.2064)     NEW RULE XLIX (2.59.2065)

NEW RULE L (2.59.2066)             NEW RULE LI (2.59.2069)

 

3. The department has repealed ARM 2.59.201 and 2.59.202 as proposed.

 

4. The department has adopted the following rules with changes from the original proposal, new material underlined, deleted material interlined:

 

NEW RULE I (2.59.2001)  APPLICATION PROCEDURE FOR A CERTIFICATE OF AUTHORIZATION FOR A STATE-CHARTERED MUTUAL ASSOCIATION (1) One or more individual incorporators desiring to organize a mutual association shall file with the department, an application for a certificate of authorization for a state-chartered mutual association. The department adopts and incorporates by reference:

(a) the Interagency Charter and Federal Deposit Insurance Application dated August 31, 2019 July 2021, as the form that shall be completed when applying for a certificate of authorization; and

(b) the Interagency Biographical and Financial Report dated April 30, 2017 August 2021, for use by individuals in conjunction with the Interagency Charter and Federal Deposit Insurance Application. The application and biographical and financial report are available at the department's website at banking.mt.gov.

(2) through (5) remain as proposed.

 

AUTH: 32-2-801, MCA

IMP 32-2-801, MCA

 

NEW RULE XVI (2.59.2026)  DEFINITIONS For purposes of this subchapter, the following definitions apply:

(1) through (7) remain as proposed.

 

AUTH: 32-2-701, 32-2-704, 32-2-828, 32-2-830, MCA

IMP: 32-2-701, 32-2-704, 32-2-828, 32-2-830, MCA

 

NEW RULE XVII (2.59.2027)  APPLICATION PROCEDURE FOR APPROVAL TO ESTABLISH A NEW BRANCH  (1) through (5) remain as proposed.

 

AUTH: 32-2-704, 32-2-828, MCA

IMP: 32-2-704, 32-2-828, MCA

 

NEW RULE XVIII (2.59.2028)  REVIEW PROCEDURE FOR APPLICATIONS FOR APPROVAL TO ESTABLISH A NEW BRANCH  (1) through (7) remain as proposed.

 

AUTH: 32-2-704, 32-2-828, MCA

IMP: 32-2-704, 32-2-828, MCA

 

NEW RULE XIX (2.59.2029)  PROCEDURE FOLLOWING APPROVAL OF AN APPLICATION TO ESTABLISH A NEW BRANCH  (1) and (2) remain as proposed.

 

AUTH: 32-2-704, 32-2-828, MCA

IMP: 32-2-704, 32-2-828, MCA

 

NEW RULE XX (2.59.2030)  BRANCHES  (1) through (5) remain as proposed.

 

AUTH: 32-2-701, 32-2-704, 32-2-828, MCA

IMP: 32-2-701, 32-2-704, 32-2-828, MCA

 

NEW RULE XXI (2.59.2031)  MONTANA MUTUAL ASSOCIATIONS BRANCHING OUTSIDE MONTANA  (1) remains as proposed.

 

AUTH: 32-2-701, 32-2-704, 32-2-828, MCA

IMP: 32-2-701, 32-2-704, 32-2-828, MCA

 

NEW RULE XXII (2.59.2032)  MUTUAL ASSOCIATIONS ORGANIZED OUTSIDE OF MONTANA BRANCHING INTO MONTANA  (1) remains as proposed.

 

AUTH: 32-2-701, 32-2-704, 32-2-828, MCA

IMP: 32-2-701, 32-2-704, 32-2-828, MCA

 

NEW RULE XXIII (2.59.2033)  CLOSURE OR RELOCATION OF A BRANCH

(1) through (3) remain as proposed.

 

AUTH: 32-2-701, 32-2-704, 32-2-828, MCA

IMP: 32-2-701, 32-2-704, 32-2-828, MCA

 

5.  The department thoroughly considered the comments received. A summary of the comments received and the department's responses follows:

 

COMMENT #1:  A comment was received in support of the rulemaking.

 

RESPONSE #1:  The department appreciates the comment.

 

COMMENT #2: A comment was received stating there is a newer version of the Interagency Charter and Federal Deposit Insurance Application and Interagency Biographical and Financial Report.

 

RESPONSE #2: The department agrees and has updated the version date for each form as provided in NEW RULE I (2.59.2001).

 

COMMENT #3: A commenter indicated 32-2-828, MCA, did not provide rulemaking authority for New Rules XVI (2.59.2026), XVII (2.59.2027), XVIII (2.59.2028), XIX (2.59.2029), XX (2.59.2030), XXI (2.59.2031), XXII (2.59.2032), and XXIII (2.59.2033).

 

RESPONSE #3: The department agrees and has updated the authority citation for each rule accordingly.

 

 

By:   /s/ Misty Ann Giles                                    By:   /s/ Don Harris                             

         Misty Ann Giles, Director                                  Don Harris, Rule Reviewer

         Department of Administration                           Department of Administration

 

 

Certified to the Secretary of State February 1, 2022.