(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, as defined in 32-1-109, MCA:
- (a) solicit loans on behalf of the bank or a branch of the bank;
- (b) assemble credit information;
- (c) make property inspections and appraisals;
- (d) secure title information;
- (e) prepare applications for loans, including making recommendations with respect to action; and
- (f) solicit investors to purchase loans from the bank and to contract with the bank for servicing of such loans.
- (2) A bank 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): 32-1-211, 32-1-218, 32-1-222, MCA
Implementing statute(s): 32-1-109, 32-1-222, MCA
History: NEW, 2021 MAR p. 328, Eff. 3/27/21.