1. (1) A loan production office may conduct any of the following activities, which shall not, individually or collectively, cause the loan production office to be considered a branch:

   1. (a) solicit loans on behalf of the mutual association or a branch of the mutual association;
   2. (b) assemble credit information;
   3. (c) make property inspections and appraisals;
   4. (d) secure title information;
   5. (e) prepare applications for loans, including making recommendations with respect to action; and
   6. (f) solicit investors to purchase loans from the mutual association and to contract with the mutual association for servicing of such loans.
2. (2) A mutual association shall not accept deposits or loan payments, originate deposits or savings or checking accounts, approve loans, or disburse loan funds at a loan production office established pursuant to this rule.

Authorizing statute(s): 32-2-701, 32-2-704, 32-2-830, MCA

Implementing statute(s): 32-2-701, 32-2-704, 32-2-830, MCA

History: NEW, 2022 MAR p. 230, Eff. 2/12/22.