1. (1) By authority delegated to the commissioner in 30-10-105, MCA, a transaction in a security issued by and representing an interest in or a debt of or guaranteed by a savings and loan association or a building and loan or similar association, other than those described in 30-10-104(4) , MCA, is exempt from the registration requirements of 30-10-202, MCA, if:

   1. (a) it is sold through a registered broker-dealer and registered salesperson;
   2. (b) the issuer is a member of the federal deposit insurance corporation; or
   3. (c) in the case of a certificate of deposit, the sums representing the certificate of deposit are fully insured by the federal deposit insurance corporation.

Authorizing statute(s): 30-10-105, 30-10-107, MCA

Implementing statute(s): 30-10-105, MCA

History: NEW, 1988 MAR p. 1803, Eff. 8/12/88; AMD, 1994 MAR p. 569, Eff. 3/18/94; TRANS from ARM 6.10.125, 2008 MAR . 2046, Eff. 9/26/08; AMD, 2020 MAR p. 1874, Eff. 10/24/20.