32-8-515. Limitations on use of financial record. (1) The original or a copy of a financial record obtained by a state or local agency or another person pursuant to this part may not be used or retained in any form for a purpose other than the statutory purpose for which the record was originally obtained. The statutory purpose must be determined with reference to the statute, rule, or other law sought to be enforced in the proceeding for which the record was obtained.
     (2) A state or local agency may not provide a financial record obtained pursuant to this part to another state or local agency unless the other agency has independently obtained authorization to receive the financial record pursuant to this part. This subsection does not prohibit:
     (a) the transfer by one supervisory agency that obtained a financial record pursuant to 32-8-516(1)(c) to another supervisory agency or supervisory agencies if that transfer otherwise complies with subsection (1); or
     (b) the transfer of a financial record obtained pursuant to 32-8-508 by one criminal justice agency to another criminal justice agency in accordance with the Montana Criminal Justice Information Act of 1979.
     (3) A supervisory, state, or local agency or a court obtaining a financial record by administrative subpoena, search warrant, or judicial subpoena shall, at the request of a customer or foreign capital depository, provide for the in camera review of the record to determine whether the record contains material that is not expected to be the subject of the investigation, inquiry, or proceeding. The supervisory, state, or local agency or the court shall liberally grant requests for in camera hearings, protective orders, and other appropriate processes to protect the confidential nature of a financial record. The agency or court may permit public disclosure of a financial record only if it finds that disclosure is necessary for the fair resolution of an issue before it.
     (4) Documents of a supervisory, state, or local agency and documents produced in court containing a financial record must be sealed by the agency or court at the conclusion of the proceedings in order to prevent access to the record and may be opened only for good cause shown.

     History: En. Sec. 39, Ch. 382, L. 1997.