32-1-109. Definitions. As used in this chapter, unless the context requires otherwise, the following definitions apply:
     (1) "Bank holding company" means a bank holding company registered under the federal Bank Holding Company Act of 1956, as amended.
     (2) "Board" means the state banking board provided for in 2-15-1803.
     (3) "Branch bank" means a banking house, other than the main banking house, maintained and operated by a bank doing business in the state but does not include a detached facility, as provided for in 32-1-372, or a satellite terminal, as defined in 32-6-103.
     (4) "Capital", "capital stock", and "paid-in capital" mean that fund for which certificates of stock are issued to stockholders.
     (5) "City" means a city, town, or municipality, incorporated or unincorporated, that is an aggregation of inhabitants and structures sufficient to constitute a distinct place.
     (6) "City limits" means, in the case of:
     (a) an incorporated city, the corporate limits as provided for in 7-2-4101; or
     (b) an unincorporated place, the boundaries that under the circumstances define the city as a distinct place.
     (7) "Common ownership" means the ownership, directly or indirectly, of 80% or more of the voting stock of each of two or more banks by an individual, group of individuals, entity, or corporation.
     (8) "Community advisory board" means a group of citizens to advise the management of a branch bank, a majority of whom must be residents of the county in which the branch bank is located.
     (9) "Consolidate" and "merge" mean the same thing and may be used interchangeably in this chapter.
     (10) "Demand deposits" means all deposits, the payment of which can legally be required when demanded.
     (11) "Department" means the department of commerce provided for in Title 2, chapter 15, part 18.
     (12) "Division" means the division of banking and financial institutions of the department.
     (13) "Main banking house" means the principal place of business of a bank in the state.
     (14) "Net earnings" means the excess of the gross earnings of a bank over expenses and losses chargeable against those earnings during any one year.
     (15) "Principal shareholder" means a person who directly or indirectly owns or controls, individually or through others, more than 10% of any class of voting stock.
     (16) "Profit and loss account" or "profit and loss" means that account carried on the books of the bank into which all earnings accounts and recoveries are closed, thus exhibiting "gross earnings", and against which all loss and other disbursement items are charged, revealing "net earnings", which are then properly closed to "undivided profits accounts" or "undivided profits", out of which dividends are paid and reserves set aside.
     (17) "Surplus" means a fund paid in or created under this chapter by a bank from its net earnings or undivided profits which, when set apart and designated as such, is not available for the payment of dividends and cannot be used for the payment of expenses or losses so long as such bank has undivided profits.
     (18) "Time deposits" means all deposits, the payment of which cannot legally be required within 7 days.
     (19) "Undivided profits" means the credit balance of the profit and loss account of a bank.

     History: En. Sec. 5, Ch. 89, L. 1927; re-en. Sec. 6014.9, R.C.M. 1935; amd. Sec. 1, Ch. 431, L. 1975; R.C.M. 1947, 5-109; amd. Sec. 2, Ch. 274, L. 1981; amd. Sec. 1, Ch. 483, L. 1983; amd. Sec. 2, Ch. 75, L. 1985; amd. Sec. 1, Ch. 322, L. 1989; amd. Sec. 5, Ch. 395, L. 1993.