(1) Banks are permitted to underwrite issues of investment securities if the following conditions are met:
- (a) No banks having unimpaired capital and surplus of less than $5,000,000 shall underwrite or otherwise participate as principal in the marketing of securities, except for the account of and upon specific instructions from its customer.
- (b) Banks that qualify to underwrite or participate by having unimpaired capital and surplus of $5,000,000 or greater, may do so with any securities that such banks could purchase for their own account.
- (c) Accounting and other records of trading in such securities must be separately maintained from accounting and other records relating to purchases of securities for the bank's own account.
Authorizing statute(s): 32-1-424, 32-1-433, MCA
Implementing statute(s): 32-1-424, 32-1-433, MCA
History: NEW, 1994 MAR p. 1137, Eff. 4/29/94; TRANS, from Commerce, 2001 MAR p. 1178; AMD, 2002 MAR p. 166, Eff. 2/1/02; AMD, 2022 MAR p. 234, Eff. 2/12/22.