Montana Statutes
§ 31-1-112 — Interest Rate Limitation Exemption -- Regulated Lenders -- Merchant Finance
Montana·Title 31 CREDIT TRANSACTIONS AND RELATIONSHIPS·Ch. 1 CREDIT TRANSACTIONS·Part 1 Loans of Money -- Interest Rates
31-1-112 . Interest rate limitation exemption -- regulated lenders -- merchant finance.
(1)A regulated lender, except for a deferred deposit loan licensee or consumer loan licensee, is exempt from all limitations on the rate of interest that it may charge and is exempt from the operation and effect of all usury statutes.
(2)A finance operation that finances transactions between merchants, as defined in 30-2-104 , is also exempt from usury limits.
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Legislative History
(1)En. Sec. 2, Ch. 275, L. 1981; (2)En. Sec. 4, Ch. 276, L. 1981; amd. Sec. 1, Ch. 9, L. 1983; amd. Sec. 1, Ch. 22, L. 1983; amd. Sec. 2, I.M. No. 164, approved Nov. 2, 2010; amd. Sec. 3, Ch. 278, L. 2013.
Nearby Sections
15
§ 31-1-101
Loan Of Money -- What Constitutes§ 31-1-102
Loan To Be Repaid In Current Money§ 31-1-103
Loan Presumed To Be On Interest§ 31-1-104
Interest Defined§ 31-1-105
Annual Rate§ 31-1-106
Legal Interest§ 31-1-107
Interest Rate Allowed By Agreement§ 31-1-109
When Interest Becomes Part Of Principal§ 31-1-110
Renumbered 25-9-205§ 31-1-111
Definition Of Regulated Lender§ 31-1-113
Limitation Of Rule Of 78ths§ 31-1-114
Reserved