Montana Statutes
§ 32-9-109 — Experience Requirements
Montana·Title 32 FINANCIAL INSTITUTIONS·Ch. 9 RESIDENTIAL MORTGAGE BROKERS, LENDERS, SERVICERS, AND LOAN ORIGINATORS·Part 1 Montana Mortgage Act
32-9-109 . Experience requirements.
(1)An individual may not act as a designated manager without a minimum of 3 years of experience working as a mortgage loan originator or in a related field.
(2)An individual may not act as a responsible individual without a minimum of 1 1/2 years of experience working as a mortgage loan originator or in a related field.
(3)The department shall by rule establish what constitutes work in a related field. (See part compiler's comment regarding contingent suspension.)
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Legislative History
En. Sec. 6, Ch. 516, L. 2003; amd. Sec. 3, Ch. 301, L. 2005; amd. Sec. 3, Ch. 498, L. 2007; amd. Sec. 9, Ch. 321, L. 2009; amd. Sec. 7, Ch. 125, L. 2013; amd. Sec. 6, Ch. 24, L. 2015.
Nearby Sections
15
§ 32-9-101
Short Title And Purpose§ 32-9-102
License Requirement -- Registration§ 32-9-103
Definitions§ 32-9-104
Exemptions -- Proof Of Exemption§ 32-9-106
Simultaneous Licensure§ 32-9-108
Repealed§ 32-9-109
Experience Requirements§ 32-9-111
Repealed§ 32-9-114
Repealed§ 32-9-115
Repealed