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Financial Services Law Insights and Observations

Montana Department of Administration provides relief to banks and credit unions regarding annual meetings

State Issues Covid-19 Montana Banking Credit Union

State Issues

On April 2, the Montana Department of Administration adopted a temporary emergency rule regarding annual meetings held by banks and credit unions during the Covid-19 pandemic.  The rule permits a bank or credit union to hold its annual meeting in the form of a virtual meeting during the Covid-19 pandemic. Such virtual meeting must be live, allow electronic or telephonic participation in the meeting in real-time, and provide simultaneous audio transmission of the meeting.