Mont. Code Ann. § 32-1-468
This is the official text of Mont. Code Ann. § 32-1-468, 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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32-1-468 Removal of directors, officers, or employees -- hearing
Official statutory text
32-1-468 . Removal of directors, officers, or employees -- hearing. (1) A director, officer, or employee of a bank who is found by the department, after examination, to be negligent, dishonest, reckless, or incompetent or to have violated 32-1-325 , 32-1-464 , 32-1-472 , or 32-1-473 must be removed from office by the board of directors of the bank on the written order of the department. If the directors neglect or refuse to remove the director, officer, or employee and any losses accrue to the bank by reason of the negligence, dishonesty, recklessness, or incompetency of the director, officer, or employee, the written order of the department is conclusive evidence of the negligence of the directors failing to act as provided in this section in any action brought against the board of directors by a depositor or creditor for recovery of losses.
(2) If the board of directors refuses to remove the director, officer, or employee on order of the department, the board of directors may file a request for hearing pursuant to the Montana Administrative Procedure Act.
(2) If the board of directors refuses to remove the director, officer, or employee on order of the department, the board of directors may file a request for hearing pursuant to the Montana Administrative Procedure Act.
Status: in_force · Read it on the official government site
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