Mont. Code Ann. § 32-1-447
This is the official text of Mont. Code Ann. § 32-1-447, part of Montana’s Code Ann — part of the compiled statutory law of Montana, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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32-1-447 Giving security for deposit prohibited -- exceptions
Official statutory text
32-1-447 . Giving security for deposit prohibited -- exceptions. It is unlawful for any bank to pledge, mortgage, or hypothecate to any depositor any of its real or personal property as security for any deposit, and any pledge, mortgage, or hypothecation made in violation thereof is unenforceable. This provision does not apply to any deposits of money of the United States, public funds deposited in accordance with the provisions of any depository act of this state or the United States, or bankruptcy estate funds or deposits, including deposits of receivers or trustees in bankruptcy, deposited under the direction and supervision of a court of record of the state of Montana or of the United States.
Status: in_force · Read it on the official government site
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