Senate Bill No. [insert bill number] proposes comprehensive revisions to Montana's banking laws by placing the Division of Banking and Financial Institutions under the supervision of the Montana State Auditor. The bill amends various sections of the Montana Code Annotated (MCA), including renaming the Office of the Commissioner of Securities and Insurance to the Office of the Commissioner of Securities, Insurance, and Banking and Financial Institutions. It introduces new language that clarifies the regulatory responsibilities of the state auditor and establishes oversight of the commissioner of banking and financial institutions. Additionally, the bill removes references to the Department of Administration, streamlining the regulatory framework and enhancing accountability within the state's banking sector.

The legislation also updates the governance and operational procedures for credit unions and mortgage-related activities. Key amendments include redefining the term "department" to refer to the commissioner of securities, insurance, and banking and financial institutions, and clarifying the roles of various financial entities. The bill outlines processes for the removal and suspension of board members and officers, establishes procedures for credit unions to change business locations, and enhances consumer protection in the mortgage industry. Overall, the bill aims to modernize and strengthen the regulatory framework governing financial institutions in Montana, ensuring they operate in accordance with sound banking principles and legal requirements.

Statutes affected:
LC Text: 2-15-601, 2-15-602, 5-5-223, 5-5-228, 17-5-1651, 31-1-202, 31-1-703, 31-3-125, 31-3-152, 32-1-109, 32-1-211, 32-1-901, 32-1-902, 32-1-903, 32-1-904, 32-1-905, 32-1-906, 32-1-907, 32-1-908, 32-1-909, 32-1-910, 32-1-911, 32-1-912, 32-1-921, 32-2-603, 32-3-102, 32-3-104, 32-3-201, 32-3-202, 32-3-203, 32-3-204, 32-3-205, 32-3-206, 32-3-207, 32-3-212, 32-3-215, 32-3-216, 32-3-301, 32-3-302, 32-3-303, 32-3-307, 32-3-321, 32-3-322, 32-3-323, 32-3-401, 32-3-403, 32-3-417, 32-3-422, 32-3-609, 32-3-611, 32-3-702, 32-3-703, 32-3-705, 32-3-1003, 32-3-1004, 32-3-1005, 32-3-1008, 32-3-1009, 32-3-1013, 32-4-306, 32-5-102, 32-6-103, 32-7-101, 32-7-102, 32-9-103, 32-9-201
SB0377_1(1): 2-15-601, 2-15-602, 5-5-223, 5-5-228, 17-5-1651, 31-1-202, 31-1-703, 31-3-125, 31-3-152, 32-1-109, 32-1-211, 32-1-901, 32-1-902, 32-1-903, 32-1-904, 32-1-905, 32-1-906, 32-1-907, 32-1-908, 32-1-909, 32-1-910, 32-1-911, 32-1-912, 32-1-921, 32-2-603, 32-3-102, 32-3-104, 32-3-201, 32-3-202, 32-3-203, 32-3-204, 32-3-205, 32-3-206, 32-3-207, 32-3-212, 32-3-215, 32-3-216, 32-3-301, 32-3-302, 32-3-303, 32-3-307, 32-3-321, 32-3-322, 32-3-323, 32-3-401, 32-3-403, 32-3-417, 32-3-422, 32-3-609, 32-3-611, 32-3-702, 32-3-703, 32-3-705, 32-3-1003, 32-3-1004, 32-3-1005, 32-3-1008, 32-3-1009, 32-3-1013, 32-4-306, 32-5-102, 32-6-103, 32-7-101, 32-7-102, 32-9-103, 32-9-201
SB0377_1(2): 2-15-601, 2-15-602, 5-5-223, 5-5-228, 17-5-1651, 31-1-202, 31-1-703, 31-3-125, 31-3-152, 32-1-109, 32-1-211, 32-1-901, 32-1-902, 32-1-903, 32-1-904, 32-1-905, 32-1-906, 32-1-907, 32-1-908, 32-1-909, 32-1-910, 32-1-911, 32-1-912, 32-1-921, 32-2-603, 32-3-102, 32-3-104, 32-3-201, 32-3-202, 32-3-203, 32-3-204, 32-3-205, 32-3-206, 32-3-207, 32-3-212, 32-3-215, 32-3-216, 32-3-301, 32-3-302, 32-3-303, 32-3-307, 32-3-321, 32-3-322, 32-3-323, 32-3-401, 32-3-403, 32-3-417, 32-3-422, 32-3-609, 32-3-611, 32-3-702, 32-3-703, 32-3-705, 32-3-1003, 32-3-1004, 32-3-1005, 32-3-1008, 32-3-1009, 32-3-1013, 32-4-306, 32-5-102, 32-6-103, 32-7-101, 32-7-102, 32-9-103, 32-9-201
SB0377_1(3): 2-15-601, 2-15-602, 5-5-223, 5-5-228, 17-5-1651, 31-1-202, 31-1-703, 31-3-125, 31-3-152, 32-1-109, 32-1-211, 32-1-901, 32-1-902, 32-1-903, 32-1-904, 32-1-905, 32-1-906, 32-1-907, 32-1-908, 32-1-909, 32-1-910, 32-1-911, 32-1-912, 32-1-921, 32-2-603, 32-3-102, 32-3-104, 32-3-201, 32-3-202, 32-3-203, 32-3-204, 32-3-205, 32-3-206, 32-3-207, 32-3-212, 32-3-215, 32-3-216, 32-3-301, 32-3-302, 32-3-303, 32-3-307, 32-3-321, 32-3-322, 32-3-323, 32-3-401, 32-3-403, 32-3-417, 32-3-422, 32-3-609, 32-3-611, 32-3-702, 32-3-703, 32-3-705, 32-3-1003, 32-3-1004, 32-3-1005, 32-3-1008, 32-3-1009, 32-3-1013, 32-4-306, 32-5-102, 32-6-103, 32-7-101, 32-7-102, 32-9-103, 32-9-201
SB0377_1(4): 2-15-601, 2-15-602, 5-5-223, 5-5-228, 17-5-1651, 31-1-202, 31-1-703, 31-3-125, 31-3-152, 32-1-109, 32-1-211, 32-1-901, 32-1-902, 32-1-903, 32-1-904, 32-1-905, 32-1-906, 32-1-907, 32-1-908, 32-1-909, 32-1-910, 32-1-911, 32-1-912, 32-1-921, 32-2-603, 32-3-102, 32-3-104, 32-3-201, 32-3-202, 32-3-203, 32-3-204, 32-3-205, 32-3-206, 32-3-207, 32-3-212, 32-3-215, 32-3-216, 32-3-301, 32-3-302, 32-3-303, 32-3-307, 32-3-321, 32-3-322, 32-3-323, 32-3-401, 32-3-403, 32-3-417, 32-3-422, 32-3-609, 32-3-611, 32-3-702, 32-3-703, 32-3-705, 32-3-1003, 32-3-1004, 32-3-1005, 32-3-1008, 32-3-1009, 32-3-1013, 32-4-306, 32-5-102, 32-6-103, 32-7-101, 32-7-102, 32-9-103, 32-9-201
SB0377_1: 2-15-601, 2-15-602, 5-5-223, 5-5-228, 17-5-1651, 31-1-202, 31-1-703, 31-3-125, 31-3-152, 32-1-109, 32-1-211, 32-1-901, 32-1-902, 32-1-903, 32-1-904, 32-1-905, 32-1-906, 32-1-907, 32-1-908, 32-1-909, 32-1-910, 32-1-911, 32-1-912, 32-1-921, 32-2-603, 32-3-102, 32-3-104, 32-3-201, 32-3-202, 32-3-203, 32-3-204, 32-3-205, 32-3-206, 32-3-207, 32-3-212, 32-3-215, 32-3-216, 32-3-301, 32-3-302, 32-3-303, 32-3-307, 32-3-321, 32-3-322, 32-3-323, 32-3-401, 32-3-403, 32-3-417, 32-3-422, 32-3-609, 32-3-611, 32-3-702, 32-3-703, 32-3-705, 32-3-1003, 32-3-1004, 32-3-1005, 32-3-1008, 32-3-1009, 32-3-1013, 32-4-306, 32-5-102, 32-6-103, 32-7-101, 32-7-102, 32-9-103, 32-9-201