HELENA, Mont. – House Bill 319 that updates and clarifies the Montana Credit Union Act has been signed into law by Governor Judy Martz. Among the provisions of HB 319, it gives the state regulator more flexibility in handling troubled credit unions to avoid unnecessarily harsh remedies; provides more latitude in the internal governance of credit unions; authorizes out-of-state credit unions to do business in Montana under certain conditions and reciprocity for Montana CUs; establishes criteria for the involuntary merger of a credit union; and removes inconsistencies with other state and federal laws. The new credit union act goes into effect this October.

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