2.59.2029    PROCEDURE FOLLOWING APPROVAL OF AN APPLICATION TO ESTABLISH A NEW BRANCH

(1)  A mutual association must open an approved branch within 18 months of the date of branch approval.  Upon written request by the applicant and a finding of good cause by the department, the 18-month period may be extended by the department for a maximum of an additional six months. 

(2)  During the formation and establishment of the new branch, the applicant must inform the department of significant changes affecting any of the commitments, representations, or projections contained in the original application.  Significant changes include, but are not limited to, the location of the new branch, the services to be offered by the new branch, and the staffing or management of the new branch.  Significant changes may be sufficient to void the department's approval.

History: 32-2-704, MCA; IMP, 32-2-704, 32-2-828, MCA; NEW, 2022 MAR p. 230, Eff. 2/12/22.