32-1-203. Rules adopted by board -- new banks. The board shall adopt rules necessary for the administration of 32-1-201 through 32-1-206, 32-1-371, and 32-1-372 in accordance with the Montana Administrative Procedure Act. In particular, the board shall adopt rules concerning the authorization of new banks organized under the laws of this state, establishment of new branches of banks organized under the laws of this state, and approval of the consolidation or merger of banks organized under the laws of this state. Rules shall contain minimum standards under which an application for a new bank or for establishment of a branch bank shall be determined, including the following:
     (1) a persuasive showing that there is a reasonable public necessity and demand for a new bank or branch bank at the proposed location;
     (2) that the bank or branch bank will be owned and managed by persons of good moral character and financial integrity and will be safely and soundly operated;
     (3) a persuasive showing that the new bank or branch bank will have a sufficient volume of business to assure solvency and that establishment of the new bank organized under the laws of this state or the establishment of a branch bank organized under the laws of this state will be in the public interest.

     History: En. Sec. 5, Ch. 420, L. 1973; amd. Sec. 23, Ch. 431, L. 1975; amd. Sec. 13, Ch. 71, L. 1977; R.C.M. 1947, 5-611; amd. Sec. 3, Ch. 322, L. 1989.