1-5-417. Authority of notaries who are stockholders, officers, or employees of banks or other corporations. (1) Except as provided in this section, a notary public who is a stockholder, director, officer, or employee of a bank or other corporation may:
     (a) take the acknowledgment of a party to a written instrument executed to or by that bank or corporation;
     (b) administer an oath to any other stockholder, director, officer, employee, or agent of that bank or corporation; or
     (c) protest for nonacceptance or nonpayment bills of exchange, drafts, checks, notes, and other negotiable instruments that may be owned or held for collection by that bank or other corporation.
     (2) A notary public who is a stockholder, director, officer, or employee of a bank or other corporation and is individually named in an instrument or signs an instrument as a representative of the bank or other corporation may not:
     (a) take the acknowledgment of that instrument by or to that bank or other corporation; or
     (b) protest a negotiable instrument owned or held for collection by that bank or other corporation.
     (3) A notary public who violates this section is guilty of a misdemeanor and upon conviction must be punished as provided by law.

     History: En. Sec. 1, Ch. 77, L. 1909; re-en. Sec. 390, R.C.M. 1921; re-en. Sec. 390, R.C.M. 1935; R.C.M. 1947, 56-106; amd. Sec. 19, Ch. 192, L. 1993; amd. Sec. 8, Ch. 161, L. 2001.