Senate Bill No. 104

Introduced By beck, devaney

By Request of the department of Commerce



A Bill for an Act entitled: An Act authorizing the department of commerce to review the books and affairs of bank holding companies; and amending section

32-1-220, MCA.



Be it enacted by the Legislature of the State of Montana:



Section 1.  Section 32-1-220, MCA, is amended to read:

"32-1-220.   Examination of Access to holding companies and affiliated entities. The division shall request assistance from and cooperate with the federal reserve system in the examination may review the books and affairs of a bank holding companies company operating under the Bank Holding Company Act of 1956 in order to resolve issues relating to the safety and soundness of banks under the jurisdiction of the division during the course of a regularly scheduled safety and soundness examination whenever serious regulatory concerns arise that could jeopardize the safety and soundness of the particular subsidiary being examined. The purpose of the authority granted in this section is to resolve serious regulatory concerns that arise during the examination from bank holding company transactions with the subsidiary being examined. The authority granted in this section does not authorize a review of the holding company as a standard procedure when the division has no serious regulatory concerns over transactions with the subsidiary being examined."

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