A mutual association is insolvent within the meaning of this chapter when its capital is absorbed in losses and the remaining assets are not sufficient to pay and discharge its contracts, debts, and engagements.
Mont. Code Ann. § 32-2-1003
When mutual association insolvent
Known as the Mutual Savings and Loan Association Act
The act spans §§ 32–32 (233 sections).
En
Official source: Montana Code Annotated (Montana Legislature). Reproduced from public-domain Montana statutes; confirm against the official source for the current text. Not legal advice.