Montana Statutes
§ 31-1-242 — Refunds On Prepayment
Montana·Title 31 CREDIT TRANSACTIONS AND RELATIONSHIPS·Ch. 1 CREDIT TRANSACTIONS·Part 2 Retail Installment Sales
31-1-242 . Refunds on prepayment. Notwithstanding any other provision of law or terms of any retail installment contract to the contrary, any buyer may prepay in full, at any time before maturity, the debt of any retail installment contract and upon paying the debt must receive a refund credit for the anticipation of payments on a precomputed contract or for any other unearned fees calculated by use of the actuarial method. The refund amount is the portion of the original finance charge that is applicable to all fully unexpired months in the contract as originally scheduled or, if deferred, as deferred, following the date of prepayment.
Free access — add to your briefcase to read the full text and ask questions with AI
Montana § 31-1-242 (Refunds On Prepayment) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 9, Ch. 282, L. 1959; R.C.M. 1947, 74-609; amd. Sec. 1, Ch. 135, L. 1983; amd. Sec. 11, Ch. 63, 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