Senate Bill No. [insert bill number] seeks to revise Montana's banking laws by placing the Division of Banking and Financial Institutions under the supervision of the Montana State Auditor. Key amendments include changing the title of the Commissioner of Securities and Insurance to the Commissioner of Securities, Insurance, and Banking and Financial Institutions, and introducing new language that clarifies the state auditor's regulatory role. The bill also updates the definition of "department" to refer to the commissioner under the supervision of the state auditor, replacing previous references to the Department of Administration. This restructuring aims to streamline the regulatory framework for banking and financial institutions, enhancing oversight and accountability.

Additionally, the bill amends various sections of the Montana Code Annotated (MCA) to modernize the governance of credit unions and mortgage lending practices. It removes references to the "department of administration," replacing them with "department," and clarifies definitions related to credit unions and mortgage lending. The bill outlines the responsibilities of credit union directors, introduces penalties for false statements by credit union officials, and revises definitions related to mortgage origination and servicing. Overall, these amendments aim to enhance consumer protection, ensure compliance with regulations, and improve the operational efficiency of financial institutions in Montana.

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