Admin. R. Mont. 2.59.1505 – Examination of Deferred Deposit Lenders | Midpage

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Administrative Rules of Montana

Subchapter 2.59.15

Rule 2.59.1505

Admin. R. Mont. 2.59.1505

Examination of Deferred Deposit Lenders

Effective Jul 29, 2011Authorizing statute(s): 31-1-702, MCA; Implementing statute(s): 31-1-711, MCAState of Montana

Versions (3)

As of

Undated version
Jul 29, 2011Current
Nov 5, 1999

(1) An examination of a licensee's lending operations conducted by the department to verify compliance with Title 31, chapter 1, part 7, MCA, and these rules, must consist of a comprehensive review of the records, operations, and affairs of the licensee. The review must include inquiry into:
1. (a) accounting and financial records;
2. (b) records of the borrowers' files including:
  1. (i) evidence of required disclosures; and
  2. (ii) use of a department-approved loan agreement form; and
3. (c) assurance of continued capital adequacy and bonding.

Authorizing statute(s): 31-1-702, MCA

Implementing statute(s): 31-1-711, MCA

History: NEW, 2000 MAR p. 71, Eff. 11/5/99; TRANS, from Commerce, 2001 MAR p. 1178; AMD, 2011 MAR p. 1365, Eff. 7/29/11.