1. (1) The department may enter into a contract with, and compensate, a third party to perform any of the duties necessary to fulfill the purposes of this subchapter including, but not limited to:

   1. (a) technically review, evaluate, and approve applications;
   2. (b) execute loan agreements;
   3. (c) secure and service loans;
   4. (d) collect loan payments; and
   5. (e) conduct collections for defaulted loans.

2. (2) The department, or a third party performing services under a contract entered into pursuant to this rule, may charge an applicant or borrower usual and customary fees including, but not limited to:

   1. (a) application fees;
   2. (b) loan origination fees;
   3. (c) delinquency fees; and
   4. (d) costs of collection.

Authorizing statute(s): 75-25-102, MCA

Implementing statute(s): 75-25-102, MCA

History: NEW, 2007 MAR p. 34, Eff. 12/22/06.