Montana § 31-1-305 Interest On Loans -- Amount And Computation

Montana Statutes

§ 31-1-305 — Interest On Loans -- Amount And Computation

Montana § 31-1-305

Title 31CREDIT TRANSACTIONS AND RELATIONSHIPS

Ch. 1CREDIT TRANSACTIONS

Part 3Wage Brokers

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Bluebook

Mont. Code Ann. § 31-1-305 (2026).

Text

31-1-305 . Interest on loans -- amount and computation. A wage broker may not ask, demand, or receive, either as compensation or interest or in any other manner, directly or indirectly, any compensation or interest for the use of money advanced or loaned by the wage broker to any employee or wage earner in excess of 12% a year. The compensation or rate of interest must be computed upon the amount actually advanced to and received by the employee or wage earner and must include all commissions or compensation whatsoever to the wage broker or any other person for making or procuring the loan.

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31-1-305 . Interest on loans -- amount and computation. A wage broker may not ask, demand, or receive, either as compensation or interest or in any other manner, directly or indirectly, any compensation or interest for the use of money advanced or loaned by the wage broker to any employee or wage earner in excess of 12% a year. The compensation or rate of interest must be computed upon the amount actually advanced to and received by the employee or wage earner and must include all commissions or compensation whatsoever to the wage broker or any other person for making or procuring the loan.