Montana Title 32. Financial Institutions § 32-1-212. Conflicts of interest--definition--rulemaking

(1) The commissioner and any deputy commissioner may not be, directly or indirectly, interested in any entity chartered or supervised by the department.

(2) The commissioner, any deputy commissioner, or any employee of the division, including a bank examiner, may not borrow money from an entity chartered or supervised by the department unless the extension of credit:

(3) For the purposes of this section, the phrase “substantially the same terms” includes interest rates and collateral and credit underwriting procedures that are not less stringent than those prevailing at the time for comparable transactions by the lender as for other borrowers who are not employed by the division.

(4) The department shall adopt rules to implement this section.