# Mont. Code Ann. § 32-1-102: 32-1-102 Institutions to which chapter is applicable

> Montana · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MT_T32_C1_P1_S32-1-102

## Section

- **Citation:** Mont. Code Ann. § 32-1-102
- **Heading:** 32-1-102 Institutions to which chapter is applicable
- **Jurisdiction:** Montana
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** MT Code / Title 32 / Chapter 1 / Part 1 / Section 32-1-102

## Text

32-1-102 . Institutions to which chapter is applicable. (1) The word "bank" as used in this chapter means any corporation that has been incorporated to conduct the business of receiving money on deposit or transacting a trust or investment business, as defined in this chapter.

(2) The soliciting, receiving, or accepting of money or its equivalent on deposit as a regular business is doing a commercial or savings bank business, whether the deposit is made subject to check or is evidenced by a certificate of deposit, a passbook, a note, or other receipt. This section does not apply to or include money or its equivalent left in escrow or left with an agent pending investment in real estate or securities for or on account of the agent's principal.

(3) It is unlawful for any corporation, partnership, firm, or individual to engage in or transact a banking business within this state except by means of a corporation duly organized for that purpose.

(4) Banks are divided into the following classes:

(a) commercial banks;

(b) savings banks;

(c) trust companies;

(d) investment companies.

(5) This chapter does not apply to:

(a) any investment company or corporation established prior to March 8, 1927, under authority of the law of Montana not accepting, receiving, or holding money on deposit;

(b) a student financial institution, as defined in 32-1-115 ; or

(c) a nonprofit corporation that serves as trustee of one or more trusts in which it is expressly designated under the terms of the trust as having a present or future beneficial interest, vested or contingent.

## Nearby sections

- [Mont. Code Ann. § 32-1-101 32-1-101 Short title -- application -- purpose](https://www.frixlaw.com/law-library/statutes/STATE_MT_T32_C1_P1_S32-1-101.md)
- [Mont. Code Ann. § 32-1-102 32-1-102 Institutions to which chapter is applicable](https://www.frixlaw.com/law-library/statutes/STATE_MT_T32_C1_P1_S32-1-102.md)
- [Mont. Code Ann. § 32-1-104 32-1-104 Number of persons necessary to form corporation](https://www.frixlaw.com/law-library/statutes/STATE_MT_T32_C1_P1_S32-1-104.md)
- [Mont. Code Ann. § 32-1-105 32-1-105 Commercial bank defined](https://www.frixlaw.com/law-library/statutes/STATE_MT_T32_C1_P1_S32-1-105.md)
- [Mont. Code Ann. § 32-1-106 32-1-106 Savings bank defined](https://www.frixlaw.com/law-library/statutes/STATE_MT_T32_C1_P1_S32-1-106.md)
- [Mont. Code Ann. § 32-1-107 32-1-107 Trust company defined -- purposes for which may be formed](https://www.frixlaw.com/law-library/statutes/STATE_MT_T32_C1_P1_S32-1-107.md)
- [Mont. Code Ann. § 32-1-108 32-1-108 Investment company defined -- purposes for which may be formed](https://www.frixlaw.com/law-library/statutes/STATE_MT_T32_C1_P1_S32-1-108.md)
- [Mont. Code Ann. § 32-1-109 32-1-109 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_MT_T32_C1_P1_S32-1-109.md)
- [Mont. Code Ann. § 32-1-110 32-1-110 Punishment](https://www.frixlaw.com/law-library/statutes/STATE_MT_T32_C1_P1_S32-1-110.md)
- [Mont. Code Ann. § 32-1-111 32-1-111 Attachments prohibited](https://www.frixlaw.com/law-library/statutes/STATE_MT_T32_C1_P1_S32-1-111.md)
- [Mont. Code Ann. § 32-1-112 32-1-112 Applicability of corporation law](https://www.frixlaw.com/law-library/statutes/STATE_MT_T32_C1_P1_S32-1-112.md)
- [Mont. Code Ann. § 32-1-115 32-1-115 Student financial institution defined -- obligations of minor -- applicability of laws](https://www.frixlaw.com/law-library/statutes/STATE_MT_T32_C1_P1_S32-1-115.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MT_T32_C1_P1_S32-1-102. Check the current official text before relying on it. Not legal advice.