Montana Statutes
§ 31-1-702 — Purpose -- Rules -- Fees
Montana·Title 31 CREDIT TRANSACTIONS AND RELATIONSHIPS·Ch. 1 CREDIT TRANSACTIONS·Part 7 Montana Deferred Deposit Loan Act
31-1-702 . Purpose -- rules -- fees.
(1)The purpose of this part is to protect consumers who enter into short-term, high-rate loans with lenders from abuses that occur in the credit marketplace when the lenders are unregulated.
(2)The department may adopt rules to implement the provisions of this part. The rules may include but are not limited to rules establishing forms and procedures for licensing, rules pertaining to acceptable practices at a business location, rules establishing disclosure requirements, and rules establishing complaint and hearing procedures.
(3)All fees collected pursuant to the provisions of this part must be deposited in the department's special revenue account to be used by the department in carrying out its supervisory functions under this part.
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Legislative History
En. Sec. 2, Ch. 404, L. 1999; amd. Sec. 2, Ch. 451, L. 2007.
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