32-4-101. Definitions.
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/mt/title-32/chapter-4/part-1/32-4-101·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
32-4-101 . Definitions. As used in this chapter, the following words and phrases, unless differently defined or described, shall have the meanings and references as follows:
(1)"board of directors"--the board of directors of a corporation created under this chapter;
(2)"corporation"--a Montana development corporation created under this chapter;
(3)"financial institution"--any banking corporation or trust company, building and loan association, insurance company or related corporation, partnership, foundation, or other institution engaged primarily in lending or investing funds;
(4)"loan limit"--for any member, the maximum amount permitted to be outstanding at one time on loans made by such member to the corporation, as determined under the provisions of this chapter;
(5)"member"--any financial institution authorized to do business within this state which shall undertake to lend money to a corporation created under this chapter, upon its call and in accordance with the provisions of this chapter.