Montana SB489 prohibits credit unions from acquiring banks, bank assets, or bank liabilities.

Montana SB489 amends the state's laws to explicitly prohibit credit unions from acquiring banks, bank assets, or bank liabilities. The bill revises the general powers of credit unions, clarifying that while credit unions can engage in various financial activities, they are not allowed to acquire any aspect of a bank or a bank's business. This amendment aims to maintain the distinct roles and operations of credit unions and banks within the state.

Montana SB489 prohibits credit unions from acquiring banks, bank assets, or bank liabilities.

Montana SB489 amends the state's laws to explicitly prohibit credit unions from acquiring banks, bank assets, or bank liabilities. The bill revises the general powers of credit unions, clarifying that while credit unions can engage in various financial activities, they are not allowed to acquire any aspect of a bank or a bank's business. This amendment aims to maintain the distinct roles and operations of credit unions and banks within the state.