Senate Bill No. introduced by M. Noland seeks to amend Section 32-3-401 of the Montana Code Annotated (MCA) to explicitly prohibit credit unions from acquiring banks, their assets, or liabilities. The bill adds new language stating that while credit unions have the general powers to acquire and dispose of property necessary for their operations, this does not extend to the acquisition of any aspect of a bank or its business.

The amendment aims to clarify the limitations on credit unions' operational scope, ensuring that they do not engage in activities that would involve the acquisition of banks. This legislative change reflects a protective measure for the banking sector and delineates the boundaries of credit union operations within Montana's financial landscape.

Statutes affected:
LC Text: 32-3-401
SB0489_1(1): 32-3-401
SB0489_1(2): 32-3-401
SB0489_1(3): 32-3-401
SB0489_1(4): 32-3-401
SB0489_1: 32-3-401