(1) The department must ensure that sufficient information has been submitted to determine whether:
- (a) the character, financial responsibility, and general fitness of the owners and managers of the proposed bank command the confidence of the community in which the proposed bank is to be located and warrant the belief that the business of the proposed corporation will be honestly and efficiently conducted;
- (b) the proposed directors and officers are competent to successfully manage a bank; and
- (c) the corporate name assumed by the proposed bank, by reason of the use of any one or more of the words "bank," "banker," "banking," "trust," "savings," or "investment" in conjunction with any other word or words, resembles so closely the name of any other bank previously formed under this chapter as to be likely to cause confusion.
- (2) The department must approve or deny the application within 60 days from receipt of the application unless the department requests more information. The applicant or other entity or person must have 60 days to provide the requested information to the department. Following the receipt of all requested additional information and a complete application, the department may extend its review by a one-time 30-calendar day period.
Authorizing statute(s): 32-1-218, 32-1-246, MCA
Implementing statute(s): 32-1-246, MCA
History: NEW, 2025 MAR, Notice No. 2025-900, Eff. 9/13/25.