Mont. Code Ann. § 31-2-329 — MT Code / Title 31 / Chapter 2 / Part 3 / Section 31-2-329
31-2-329 Insolvency
Status: in_force

31-2-329 . Insolvency. (1) A debtor is insolvent if the sum of the debtor's debts is greater than all of the debtor's property at a fair valuation and the debtor is generally not paying the debtor's debts as they become due.

(2) Property under this section does not include property that has been transferred, concealed, or removed with intent to hinder, delay, or defraud creditors or that has been transferred in a manner making the transfer voidable under this part.
Mont. Code Ann. § 31-1-308 — MT Code / Title 31 / Chapter 1 / Part 3 / Section 31-1-308
31-1-308 Assignment to be considered a loan
Status: in_force

31-1-308 . Assignment to be considered a loan. Every purchase by a wage broker of an assignment of the wages or salary of any employee or wage earner shall be held and considered a loan, in the sum of the amount actually paid to and received by such employee or wage earner, and shall be subject to all the provisions of this part.
Mont. Code Ann. § 31-2-228 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-228
31-2-228 Compensation
Status: in_force

31-2-228 . Compensation. In the absence of any provision in the assignment to the contrary, an assignee for the benefit of creditors is entitled to the same commissions as are allowed by law to executors and guardians, but the assignment cannot grant more and may restrict the commissions to a lesser amount or deny them altogether.
Mont. Code Ann. § 31-1-713 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-713
31-1-713 Department obligations -- complaints
Status: in_force

31-1-713 . Department obligations -- complaints. (1) The department shall maintain, either directly or indirectly through a nationwide licensing system, a list of licensees that is available to and accessible by interested persons and the general public.

(2) The department shall also establish by rule a procedure under which an aggrieved consumer or any member of the public may file a complaint against a licensee or an unlicensed person.

(3) If the department determines there is probable cause to issue and serve a notice under 31-1-712 to a licensed or unlicensed person against whom a complaint has been filed by a consumer or other member of the public, the department is obligated to provide only the licensee or the unlicensed person with the opportunity to request an administrative hearing.
Mont. Code Ann. § 31-2-210 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-210
31-2-210 The instrument of assignment
Status: in_force

31-2-210 . The instrument of assignment. (1) An assignment for the benefit of creditors must be in writing and subscribed by the assignor or by the assignor's agent authorized by writing.

(2) The assignment must be acknowledged or proved and certified in the mode prescribed by the law on recording transfers of real property and recorded as required by 31-2-215 and 31-2-216 , but recording in one county constitutes a compliance with 31-2-215 and 31-2-216 .

(3) The assignment must be accompanied by the affidavit of the assignor and assignee that the assignment is made in good faith, for the benefit of the creditors of the assignor, and without any design to hinder, delay, or defraud the creditors.

(4) The assent of the assignee, subscribed and acknowledged by the assignee, must appear in writing contained in or at the end of or endorsed upon the assignment before the assignment is recorded and, if separate from the assignment, must be duly acknowledged.
Mont. Code Ann. § 31-2-216 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-216
31-2-216 Recording and filing when more than one assignor
Status: in_force

31-2-216 . Recording and filing when more than one assignor. If an assignment for the benefit of creditors is executed by more than one assignor, it must be recorded and a copy of the inventory required by 31-2-213 must be filed with the county clerk of the county in which any of the assignors resided at its date or in which any of them not then residing in this state then had a place of business.
Mont. Code Ann. § 31-3-114 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-114
31-3-114 Compliance procedures
Status: in_force

31-3-114 . Compliance procedures. (1) Every consumer reporting agency shall maintain reasonable procedures designed to avoid violations of 31-3-112 and 31-3-113 and to limit the furnishing of consumer reports to the purposes listed under 31-3-111 . These procedures must require that prospective users of the information identify themselves, certify the purposes for which the information is sought, and certify that the information will be used for no other purpose. Every consumer reporting agency shall make a reasonable effort to verify the identity of a new prospective user and the uses certified by the prospective user prior to furnishing the user a consumer report. A consumer reporting agency may not furnish a consumer report to any person if it has reasonable grounds for believing that the consumer report will not be used for a purpose listed in 31-3-111 .

(2) Whenever a consumer reporting agency prepares a consumer report, it shall follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the report relates, and it shall maintain a record of all persons using the information and the source of each piece of information.

(3) When gathering information, a consumer reporting agency shall notify any person who furnishes information that the person is liable to suit if the information is false or furnished with malice or willful intent to injure the consumer.
Mont. Code Ann. § 31-2-340 — MT Code / Title 31 / Chapter 2 / Part 3 / Section 31-2-340
31-2-340 Defenses, liability, and protection of transferee
Status: in_force

31-2-340 . Defenses, liability, and protection of transferee. (1) A transfer or obligation is not voidable under 31-2-333 (1)(a) against a person who took in good faith and for a reasonably equivalent value or against any subsequent transferee or obligee.

(2) Except as otherwise provided in this section, to the extent a transfer is voidable in an action by a creditor under 31-2-339 (1)(a), the creditor may recover judgment for the value of the asset transferred, as adjusted under subsection (3), or the amount necessary to satisfy the creditor's claim, whichever is less. The judgment may be entered against:

(a) the first transferee of the asset or the person for whose benefit the transfer was made; or

(b) any subsequent transferee other than a good faith transferee who took for value or from any subsequent transferee.

(3) If the judgment under subsection (2) is based upon the value of the asset transferred, the judgment must be for an amount equal to the value of the asset at the time of the transfer, subject to adjustment as the equities may require.

(4) Notwithstanding voidability of a transfer or an obligation under this part, a good faith transferee or obligee is entitled, to the extent of the value given the debtor for the transfer or obligation, to:

(a) a lien on or a right to retain any interest in the asset transferred;

(b) enforcement of any obligation incurred; or

(c) a reduction in the amount of the liability on the judgment.

(5) A transfer is not voidable under 31-2-333 (1)(b) or 31-2-334 if the transfer results from:

(a) termination of a lease upon default by the debtor when the termination is pursuant to the lease and applicable law; or

(b) enforcement of a security interest in compliance with Title 30, chapter 9A.

(6) A transfer is not voidable under 31-2-334 (2):

(a) to the extent the insider gave new value to or for the benefit of the debtor after the transfer was made, unless the new value was secured by a valid lien;

(b) if made in the ordinary course of business or financial affairs of the debtor and the insider; or

(c) if made pursuant to a good faith effort to rehabilitate the debtor and the transfer secured present value given for that purpose as well as an antecedent debt of the debtor.
Mont. Code Ann. § 31-2-328 — MT Code / Title 31 / Chapter 2 / Part 3 / Section 31-2-328
31-2-328 Definitions
Status: in_force

31-2-328 . Definitions. As used in this part, the following definitions apply:

(1) "Affiliate" means:

(a) a person who directly or indirectly owns, controls, or holds with power to vote 20% or more of the outstanding voting securities of the debtor, other than a person who holds the securities:

(i) as a fiduciary or agent without sole discretionary power to vote the securities; or

(ii) solely to secure a debt if the person has not exercised the power to vote;

(b) a corporation 20% or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote by the debtor or a person who directly or indirectly owns, controls, or holds with power to vote 20% or more of the outstanding voting securities of the debtor, other than a person who holds the securities:

(i) as a fiduciary or agent without sole power to vote the securities; or

(ii) solely to secure a debt if the person has not exercised the power to vote;

(c) a person whose business is operated by the debtor under a lease or other agreement or a person substantially all of whose assets are controlled by the debtor; or

(d) a person who operates the debtor's business under a lease or other agreement or controls substantially all of the debtor's assets.

(2) "Asset" means property of a debtor, but the term does not include:

(a) property to the extent it is encumbered by a valid lien;

(b) property to the extent it is generally exempt under nonbankruptcy law; or

(c) an interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant.

(3) "Claim" means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, legal, equitable, secured, or unsecured.

(4) "Creditor" means a person who has a claim.

(5) "Debt" means liability on a claim.

(6) "Debtor" means a person who is liable on a claim.

(7) "Insider" includes:

(a) if the debtor is an individual:

(i) a relative of the debtor or of a general partner of the debtor;

(ii) a partnership in which the debtor is a general partner;

(iii) a general partner in a partnership described in subsection (7)(a)(ii); or

(iv) a corporation of which the debtor is a director, officer, or person in control;

(b) if the debtor is a corporation:

(i) a director of the debtor;

(ii) an officer of the debtor;

(iii) a person in control of the debtor;

(iv) a partnership in which the debtor is a general partner;

(v) a general partner in a partnership described in subsection (7)(b)(iv); or

(vi) a relative of a general partner, director, officer, or person in control of the debtor;

(c) if the debtor is a partnership:

(i) a general partner in the debtor;

(ii) a relative of a general partner in, a general partner of, or a person in control of the debtor;

(iii) another partnership in which the debtor is a general partner;

(iv) a general partner in a partnership described in subsection (7)(c)(iii); or

(v) a person in control of the debtor;

(d) an affiliate or an insider of an affiliate as if the affiliate were the debtor; and

(e) a managing agent of the debtor.

(8) "Lien" means a charge against or an interest in property to secure payment of a debt or performance of an obligation and includes a security interest created by agreement, a judicial lien obtained by legal or equitable process or proceedings, a common-law lien, or a statutory lien.

(9) "Person" means an individual, partnership, corporation, association, organization, government or governmental subdivision or agency, business trust, estate, trust, or any other legal or commercial entity.

(10) "Property" means anything that may be the subject of ownership.

(11) "Relative" means:

(a) an individual related by consanguinity within the third degree as determined by the common law;

(b) a spouse or an individual related to a spouse within the third degree as so determined; or

(c) an individual in an adoptive relationship within the third degree.

(12) "Transfer" means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset and includes payment of money, release, lease, and creation of a lien or other encumbrance.

(13) "Valid lien" means a lien that is effective against the holder of a judicial lien subsequently obtained by legal or equitable process or proceedings.
Mont. Code Ann. § 31-2-218 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-218
31-2-218 Assignment of real property
Status: in_force

31-2-218 . Assignment of real property. When an assignment for the benefit of creditors embraces real property, it is subject to the provisions of this part, 70-21-102 , and Title 70, chapter 21, part 3.
Mont. Code Ann. § 31-4-118 — MT Code / Title 31 / Chapter 4 / Part 1 / Section 31-4-118
31-4-118 Exemptions
Status: in_force

31-4-118 . Exemptions. This part does not apply to the following:

(1) a nonprofit entity that is exempt from federal income taxation under section 501(c)(3) of the Internal Revenue Code or a nonprofit entity that provides litigation financing, funding, or money to a legal representative to represent a consumer on a pro bono basis, provided that the nonprofit entity does not receive in consideration for the litigation financing the payment of interest, fees, or other consideration in excess of the amount of attorney fees and litigation expenses incurred in conjunction with or in pursuit of the legal claim;

(2) any litigation financing provided by an entity engaged in commerce or business activity, but only if the entity does not:

(a) charge or collect any interest, fees, or other consideration;

(b) retain or receive any financial interest in the outcome of the legal claim; or

(c) receive any right to recovery or payment from the amount of any judgment, award, settlement, verdict, or other form of monetary relief obtained in conjunction with or in pursuit of the legal claim; or

(3) a regulated lender that does not receive, in consideration for loaning money to any person, a right to receive payment from the value of any proceeds or other consideration realized from any judgment award, settlement, verdict, or other form of monetary relief any person may receive or recover in conjunction with or in pursuit of the legal claim.
Mont. Code Ann. § 31-2-222 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-222
31-2-222 Notices to parties interested in the estate as creditors or otherwise
Status: in_force

31-2-222 . Notices to parties interested in the estate as creditors or otherwise. (1) Parties interested in the estate as creditors or parties otherwise interested, if the judge so directs, shall have at least 10 days' notice by mail to their respective addresses as they appear in the schedule filed by the assignor, or at such other addresses as they shall have filed with the assignee, of:

(a) all proposed sales of property, in bulk;

(b) the filing of the final account of the assignee and of the hearing thereon;

(c) any proposed compromise with creditors.

(2) Such notice may be given as the judge shall direct and must be returnable in court, or before the judge of the court at chambers, in the district.
Mont. Code Ann. § 31-3-153 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-153
31-3-153 Violation
Status: in_force

31-3-153 . Violation. For the purposes of this part, a violation of this law would be in violation of Title 30, chapter 14, part 1.
Mont. Code Ann. § 31-1-402 — MT Code / Title 31 / Chapter 1 / Part 4 / Section 31-1-402
31-1-402 Pawnbroker to keep register
Status: in_force

31-1-402 . Pawnbroker to keep register. (1) Every pawnbroker or junk dealer shall keep a register, in which must be entered a description of every article pawned to or purchased by the pawnbroker or junk dealer, with:

(a) the date of the pawning or purchasing;

(b) the date when the article must be redeemed;

(c) the name of the person who pawned or sold the article; and

(d) the amount loaned on or paid for the article.

(2) The register must be made available for inspection and examination by any peace officer.
Mont. Code Ann. § 31-1-113 — MT Code / Title 31 / Chapter 1 / Part 1 / Section 31-1-113
31-1-113 Limitation of rule of 78ths
Status: in_force

31-1-113 . Limitation of rule of 78ths. The sum of the monthly time balances method of computing interest or refunds on prepayment, which is also known as the rule of 78ths, may not be used in any loan agreement or retail installment contract unless the term of the loan or contract does not exceed 61 months.
Mont. Code Ann. § 31-3-103 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-103
31-3-103 Credit rating -- property right
Status: in_force

31-3-103 . Credit rating -- property right. A credit rating is a property right with full constitutional protection.
Mont. Code Ann. § 31-3-143 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-143
31-3-143 Civil liability for negligent noncompliance
Status: in_force

31-3-143 . Civil liability for negligent noncompliance. Any consumer reporting agency or user of information which is negligent in failing to comply with any requirement imposed under this part with respect to any consumer is liable to that consumer in an amount equal to the sum of:

(1) any actual damages sustained by the consumer as a result of the failure;

(2) in the case of any successful action to enforce any liability under this section, the costs of the action together with reasonable attorneys' fees as determined by the court.
Mont. Code Ann. § 31-1-302 — MT Code / Title 31 / Chapter 1 / Part 3 / Section 31-1-302
31-1-302 Issuance of license -- terms and amount thereof
Status: in_force

31-1-302 . Issuance of license -- terms and amount thereof. The board of county commissioners of any county in this state or, in case said business be carried on in any incorporated city or town, the city council or board of trustees of said city or town may in its discretion, from time to time, grant licenses to any person or persons, company, corporation, or association to conduct or carry on the business of wage broker upon payment of such sum therefor and upon such terms and conditions as the said board of county commissioners or city council or board of trustees shall by resolution or ordinance require.
Mont. Code Ann. § 31-1-401 — MT Code / Title 31 / Chapter 1 / Part 4 / Section 31-1-401
31-1-401 Interest pawnbrokers may receive -- civil enforcement -- prohibited activities
Status: in_force

31-1-401 . Interest pawnbrokers may receive -- civil enforcement -- prohibited activities. (1) A person may not carry on the business of pawnbroker or junk dealer by receiving goods pawned or in pledge for loans at any rate of interest above 10% a year without first obtaining a license. A pawnbroker or junk dealer or the pawnbroker's or junk dealer's employees or agents may not charge a fee of more than 25% of the amount of the loan for a 30-day period. The fee for extending a pawn agreement for 30 days may not exceed 25% of the amount of the loan. For purposes of this section, a fee includes all costs or fees charged, including but not limited to interest, commission, discount, storage, care of property, and purchase option.

(2) The taking, receiving, reserving, or charging of a fee greater than that allowed under subsection (1) is considered a forfeiture of a sum double the amount of the fee for storage or caring that was agreed to be paid.

(3) (a) When a rate or charge greater than that provided for in subsection (1) has been paid, the person by whom it has been paid may recover from the pawnbroker or junk dealer reasonable attorney fees and an amount double the amount of the fee paid.

(b) An action under this subsection (3) must be brought within 2 years after the payment of the fee. Before a suit may be brought, the party bringing suit shall make written demand for return of the fee paid.

(4) Unless licensed as a consumer loan licensee or a deferred deposit loan licensee, a pawnbroker or junk dealer may not:

(a) cash or advance money for a postdated or deferred presentment check in exchange for a fee or finance charge;

(b) use a check, authorization for electronic access, or other method of access to a deposit account, savings account, or other financial or asset account as a condition of or security for an extension of credit;

(c) receive the title to a motor vehicle for the purpose of a pawn transaction or in pledge for a loan; or

(d) engage in any device or subterfuge intended to evade the requirements of this chapter, including assisting a borrower to obtain a loan at a rate of interest prohibited by Montana law, making loans disguised as personal property sales and leaseback transactions, or disguising loan proceeds as cash rebates for the pretextual installment sale of goods or services.

(5) In addition to other penalties provided by law, a violation of subsection (4) is a violation of Title 30, chapter 14, part 1.
Mont. Code Ann. § 31-3-123 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-123
31-3-123 Conditions of disclosure to consumer
Status: in_force

31-3-123 . Conditions of disclosure to consumer. (1) A consumer reporting agency shall make the disclosures required under 31-3-122 during normal business hours and on reasonable notice.

(2) The disclosures required under 31-3-122 must be made to the consumer:

(a) in person if the consumer appears in person and furnishes proper identification; or

(b) by telephone if the consumer has made a written request, with proper identification for telephone disclosure, and the toll charge, if any, for the telephone call is prepaid by or charged directly to the consumer.

(3) Any consumer reporting agency shall provide trained personnel to explain to the consumer any information furnished to the consumer pursuant to 31-3-122 .

(4) The consumer must be permitted to be accompanied by one other person of the consumer's choosing, who shall furnish reasonable identification. A consumer reporting agency may require the consumer to furnish a written statement granting permission to the consumer reporting agency to discuss the consumer's file in the other person's presence.
Mont. Code Ann. § 31-4-104 — MT Code / Title 31 / Chapter 4 / Part 1 / Section 31-4-104
31-4-104 Litigation financing protections
Status: in_force

31-4-104 . Litigation financing protections. (1) A litigation financer may not:

(a) pay or offer commissions, referral fees, rebates, or other forms of consideration to any person in exchange for referring a consumer to a litigation financer;

(b) accept any commissions, referral fees, rebates, or other forms of consideration from any person providing any goods or rendering any services to the consumer;

(c) charge a rate of interest that exceeds the rate of interest allowed under 31-1-107 ;

(d) receive or recover any payment that exceeds 25% of the amount of any judgment, award, settlement, verdict, or other form of monetary relief obtained in the civil action, administrative proceeding, claim, or cause of action that is the subject of the litigation contract;

(e) advertise false or misleading information regarding its products or services;

(f) refer or require any consumer to hire or engage any person providing any goods or rendering any services to the consumer;

(g) fail to promptly deliver a fully completed and signed litigation financing contract to the consumer and the consumer's legal representative;

(h) attempt to secure a remedy or obtain a waiver of any remedy, including but not limited to compensatory, statutory, or punitive damages, that the consumer may or may not be entitled to pursue or recover otherwise;

(i) offer or provide legal advice to the consumer;

(j) assign, including securitizing, a litigation financing contract in whole or in part;

(k) report a consumer to a credit reporting agency if insufficient funds remain to repay the litigation financer in full from the proceeds received from any judgment, award, settlement, verdict, or other form of monetary relief obtained in the civil action, administrative proceeding, claim, or cause of action that is the subject of the litigation financing contract;

(l) make a decision, influence, or direct a decision regarding a legal claim to recover damages including decisions in appointing or changing counsel, choice or use of expert witnesses, litigation strategy, and settlement or other resolution; or

(m) demand, request, receive, or exercise any right to influence, affect, or otherwise make any decision in the handling, conduct, administration, litigation, settlement, or resolution of any civil action, administrative proceeding, claim, or cause of action in which the litigation financer has provided litigation financing. All rights remain solely with the consumer and the consumer's legal representative.

(2) A person who provides any goods or renders any services to the consumer may not have a financial interest in litigation financing and may not receive any commissions, referral fees, rebates, or other forms of consideration from any litigation financer or the litigation financer's employees, owners, or affiliates.

(3) A party, attorney or law firm representing a party, or affiliated attorney or law firm may not disclose or share any information with a litigation financer that is subject to a protective or sealing order from a court.

(4) A party to a legal claim may not disclose to or share with a litigation financer any proprietary information received in the course of or in conjunction with a legal claim.
Mont. Code Ann. § 31-1-723 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-723
31-1-723 Prohibited acts
Status: in_force

31-1-723 . Prohibited acts. A licensee making deferred deposit loans may not commit, or have committed on behalf of the licensee, any of the following prohibited acts:

(1) engaging in the business of deferred deposit lending unless the department has first issued a valid license;

(2) threatening to use or using a criminal process in this or any other state to collect on the loan made to a consumer in this state or any civil process to collect the payment of deferred deposit loans not generally available to creditors to collect on loans in default;

(3) altering the date or any other information on a check received from a consumer;

(4) altering or changing the date upon which the licensee and consumer agreed to make any electronic deductions from the consumer's account unless the consumer agrees in writing to the change;

(5) making any false, misleading, or deceptive representation to a financial institution relating to a consumer who has agreed to provide payment for a loan through an electronic deduction;

(6) using any device or agreement that would have the effect of charging or collecting more fees, charges, or interest than those allowed by this part, including but not limited to entering into a different type of transaction or renewing or rolling over a loan with the consumer;

(7) engaging in unfair, deceptive, or fraudulent practices in the making or collection of a deferred deposit loan;

(8) entering into a deferred deposit loan with a consumer that is unconscionable. In determining whether a deferred deposit loan transaction is unconscionable, consideration must be given to, but is not limited to, whether the amount of the loan exceeds 25% of the consumer's monthly net income.

(9) charging to cash a check representing the proceeds of the deferred deposit loan;

(10) charging to perform an electronic deduction or transaction to obtain the proceeds of the deferred deposit loan;

(11) using or attempting to use the check provided by the consumer in a deferred deposit loan as security for purposes of any state or federal law;

(12) using or attempting to use the consumer's authorization to deduct the amount set forth in the loan agreement or any other information obtained from the consumer or the consumer's financial institution for any purpose other than to collect the proceeds of the deferred deposit loan;

(13) accepting payment of the deferred deposit loan through the proceeds of another deferred deposit loan;

(14) entering into a deferred deposit loan with a consumer who has an outstanding deferred deposit loan;

(15) renewing, repaying, refinancing, or consolidating a deferred deposit loan with the proceeds of another deferred deposit loan made to the same consumer. However, a licensee may without charge extend the term of the loan beyond the due date.

(16) accepting any collateral for a deferred deposit loan;

(17) charging any interest, fees, or charges other than those specifically authorized by this part, including but not limited to charges for insurance;

(18) threatening to take any action against a consumer that is prohibited by this part or making any misleading or deceptive statements regarding the deferred deposit loan;

(19) making a misrepresentation of a material fact by an applicant in obtaining or attempting to obtain a license;

(20) including any of the following provisions in the loan agreement required by 31-1-721 :

(a) a hold harmless clause;

(b) a confession of judgment clause;

(c) a waiver of the right to a jury trial, if applicable, in any action brought by or against a consumer;

(d) any assignment of or order for payment of wages or other compensation for services;

(e) a provision in which the consumer agrees not to assert any claim or defense arising out of the contract; or

(f) a waiver of any provision of this part.
Mont. Code Ann. § 31-3-115 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-115
31-3-115 Adverse information
Status: in_force

31-3-115 . Adverse information. (1) Whenever a consumer reporting agency prepares an investigative consumer report, adverse information in the consumer report, other than information that is a matter of public record, may not be included in a subsequent consumer report unless the adverse information has been verified in the process of making the subsequent consumer report.

(2) A consumer reporting agency shall block the reporting of any information in the file of a consumer that the consumer identifies as information that resulted from an alleged identity theft, pursuant to 15 U.S.C. 1681c-2.
Mont. Code Ann. § 31-1-111 — MT Code / Title 31 / Chapter 1 / Part 1 / Section 31-1-111
31-1-111 Definition of regulated lender
Status: in_force

31-1-111 . Definition of regulated lender. The term "regulated lender", as used in 31-1-112 and 31-1-116 , means:

(1) a bank, building and loan association, savings and loan association, trust company, credit union, credit association, consumer loan licensee, deferred deposit loan licensee, residential mortgage lender licensee, development corporation, bank holding company, or mutual or stock insurance company organized pursuant to state or federal statutory authority and subject to supervision, control, or regulation by:

(a) an agency of the state of Montana; or

(b) an agency of the federal government;

(2) a subsidiary of an entity described in subsection (1);

(3) a Montana state agency or a federal agency that is authorized to lend money;

(4) a corporation or other entity established by congress or the state of Montana that is owned, in whole or in part, by the United States or the state of Montana and that is authorized to lend money.
Mont. Code Ann. § 31-2-326 — MT Code / Title 31 / Chapter 2 / Part 3 / Section 31-2-326
31-2-326 Short title
Status: in_force

31-2-326 . Short title. This part may be cited as the "Uniform Fraudulent Transfer Act".
Mont. Code Ann. § 31-1-407 — MT Code / Title 31 / Chapter 1 / Part 4 / Section 31-1-407
31-1-407 Violation a misdemeanor
Status: in_force

31-1-407 . Violation a misdemeanor. A violation of any of the provisions of this part is a misdemeanor.
Mont. Code Ann. § 31-1-236 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-236
31-1-236 Notice and receipt of payment
Status: in_force

31-1-236 . Notice and receipt of payment. (1) Upon written request from the buyer, the holder of a retail installment contract shall give or forward to the buyer a written statement of the dates and amounts of payments and the total amount unpaid under the contract. A buyer must be given a written receipt for any payment when made in cash.

(2) After payment of all sums for which the buyer is obligated under a contract, the holder shall deliver or mail to the buyer, at the buyer's last-known address, one or more good and sufficient instruments to acknowledge payment in full and shall release all security in the goods or in any collateral security.
Mont. Code Ann. § 31-1-701 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-701
31-1-701 Short title
Status: in_force

31-1-701 . Short title. This part may be cited as the "Montana Deferred Deposit Loan Act".
Mont. Code Ann. § 31-3-122 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-122
31-3-122 Disclosures to consumers
Status: in_force

31-3-122 . Disclosures to consumers. (1) Every consumer reporting agency shall, upon request and proper identification of any consumer, clearly and accurately disclose to the consumer:

(a) the nature and substance of all information (except medical information) in its files on the consumer at the time of the request; and

(b) the sources of the information.

(2) The requirements of subsection (1) respecting the disclosure of sources of information and the recipients of consumer reports furnished prior to July 1, 1975, do not apply to existing consumer reporting agencies except to the extent that the matter involved is contained in the files of the consumer reporting agency on that date.
Mont. Code Ann. § 31-1-232 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-232
31-1-232 Buyer's right of rescission
Status: in_force

31-1-232 . Buyer's right of rescission. The seller shall deliver to the buyer in person or mail to the buyer at the address shown in the contract a copy of the contract, signed by the seller. If the contract is mailed, the seller shall retain proof of delivery. Until the seller delivers or mails the contract, a buyer who has not received delivery of the goods or been furnished the services has the right to rescind the agreement and to receive a refund of all payments made and return of all goods traded in to the seller on account of or in contemplation of the contract or, if the goods cannot be returned, the value of the goods. Any acknowledgment by the buyer of personal delivery of a copy of the contract signed by the seller must be conspicuous and, if contained in the contract, must appear directly above the buyer's signature.
Mont. Code Ann. § 31-1-306 — MT Code / Title 31 / Chapter 1 / Part 3 / Section 31-1-306
31-1-306 Spouse must join in assignment of wages -- acknowledgment
Status: in_force

31-1-306 . Spouse must join in assignment of wages -- acknowledgment. No assignment of wages or salary to a wage broker by a married person who shall have a spouse residing in this state shall be valid or enforceable without the consent of such spouse, evidenced by the spouse's signature to said assignment, executed and acknowledged before a notary public or other officer empowered to take acknowledgments. No wage broker or person connected with a wage broker, directly or indirectly, shall be authorized to take any such acknowledgments.
Mont. Code Ann. § 31-2-223 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-223
31-2-223 Duties of assignee
Status: in_force

31-2-223 . Duties of assignee. It shall be the duty of the assignee to:

(1) collect and reduce to money the property of the estate and close up the estate as expeditiously as possible;

(2) sell the property of the estate as soon as practicable and sell the accounts and bills receivable when deemed advisable;

(3) furnish such information concerning the estate as may be requested by parties in interest;

(4) keep regular accounts and pay dividends as often as is compatible with the best interests of the estate;

(5) file a final report and account at least 10 days before the hearing thereon.
Mont. Code Ann. § 31-1-222 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-222
31-1-222 Denial of licenses
Status: in_force

31-1-222 . Denial of licenses. Subject to the notice and opportunity for hearing provisions of 31-1-203 , initial licensure or license renewal may be denied by the department on the following grounds:

(1) material misstatement of fact or material omission of fact in the application for license or renewal;

(2) a civil judgment against the applicant for defrauding a retail buyer in relation to financing terms of a retail installment contract; or

(3) having had a sales finance company license or other financial services license revoked by a regulatory agency in any jurisdiction.
Mont. Code Ann. § 31-1-728 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-728
31-1-728 Injunctions -- receivers
Status: in_force

31-1-728 . Injunctions -- receivers. (1) Whenever the department has reason to believe that a person is using, has used, or is about to knowingly use any method, act, or practice that violates any provision of this part or any rule adopted or order issued by the department pursuant to this part, the department, upon determining that proceeding would be in the public interest, may bring an action in the name of the state against the person to restrain by temporary or permanent injunction or temporary restraining order the use of the unlawful method, act, or practice.

(2) The notice for an action pursuant to subsection (1) must state generally the relief sought and be served at least 20 days before the hearing of the action in which the relief sought is a temporary or permanent injunction. The notice for a temporary restraining order is governed by 27-19-315 .

(3) An action under this section may be brought in the district court in the county in which a person resides or has the person's principal place of business or in the district court of Lewis and Clark County if the person is not a resident of this state or does not maintain a place of business in this state.

(4) A district court may issue temporary or permanent injunctions or temporary restraining orders to restrain and prevent violations of this part, and an injunction must be issued without bond to the department. If the department is successful in obtaining an injunction or restraining order under this section, the department is entitled to an award of reasonable attorney fees and costs.

(5) In addition to all other means provided by law for the enforcement of a restraining order or injunction, the court in which the action is brought may impound and appoint a receiver for the property and business of the defendant, including books, papers, documents, or records pertaining to the property or business, or as much of the property or business as the court considers reasonably necessary to prevent violations of this part. The receiver, when appointed and qualified, has the powers and duties as to custody, collection, administration, winding up, and liquidation of the property and business that are conferred upon the receiver by the court.
Mont. Code Ann. § 31-4-206 — MT Code / Title 31 / Chapter 4 / Part 2 / Section 31-4-206
31-4-206 Registration and transparency of foreign persons
Status: in_force

31-4-206 . Registration and transparency of foreign persons. (1) A foreign person who is qualified to engage in litigation financing in this state shall comply with this chapter if the foreign person engages in litigation financing in this state.

(2) A litigation financer shall disclose in writing to the secretary of state the information set forth in subsection (3) if the litigation financer engages in any of the following:

(a) becomes affiliated with or maintains an affiliation with a foreign person;

(b) receives or accepts money or funds from a foreign person for any purpose; or

(c) allows a foreign person to invest in, maintain an ownership interest in, or exercise any control over the litigation financer.

(3) The following information must be disclosed in writing to the secretary of state:

(a) the name and address of the foreign person and the citizenship of the foreign person or the country of incorporation, formation, or registration of the foreign person; and

(b) a copy of each litigation financing contract in which the foreign person is entitled to receive any payment under the contract.

(4) The litigation financer shall provide the written notice and the information disclosure required under [this section] within 30 days after the date on which a litigation financing agreement is executed by the consumer.
Mont. Code Ann. § 31-1-105 — MT Code / Title 31 / Chapter 1 / Part 1 / Section 31-1-105
31-1-105 Annual rate
Status: in_force

31-1-105 . Annual rate. When a rate of interest is prescribed by a law or contract without specifying the period of time by which such rate is to be calculated, it is to be deemed an annual rate.
Mont. Code Ann. § 31-2-333 — MT Code / Title 31 / Chapter 2 / Part 3 / Section 31-2-333
31-2-333 Transfers fraudulent as to present and future creditors
Status: in_force

31-2-333 . Transfers fraudulent as to present and future creditors. (1) A transfer made or obligation incurred by a debtor is fraudulent as to a creditor, whether the creditor's claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the obligation:

(a) with actual intent to hinder, delay, or defraud any creditor of the debtor; or

(b) without receiving a reasonably equivalent value in exchange for the transfer or obligation and the debtor:

(i) was engaged or was about to engage in a business or a transaction for which the remaining assets of the debtor were unreasonably small in relation to the business or transaction; or

(ii) intended to incur, or believed or reasonably should have believed that the debtor would incur, debts beyond the debtor's ability to pay as they became due.

(2) In determining actual intent under subsection (1)(a), consideration may be given, among other factors, to whether:

(a) the transfer or obligation was to an insider;

(b) the debtor retained possession or control of the property transferred after the transfer;

(c) the transfer or obligation was disclosed or concealed;

(d) before the transfer was made or obligation was incurred, the debtor had been sued or threatened with suit;

(e) the transfer was of substantially all the debtor's assets;

(f) the debtor absconded;

(g) the debtor removed or concealed assets;

(h) the value of the consideration received by the debtor was reasonably equivalent to the value of the asset transferred or the amount of the obligation incurred;

(i) the debtor was insolvent or became insolvent shortly after the transfer was made or the obligation was incurred;

(j) the transfer occurred shortly before or shortly after a substantial debt was incurred; or

(k) the debtor transferred the essential assets of the business to a lienor who transferred the assets to an insider of the debtor.
Mont. Code Ann. § 31-2-327 — MT Code / Title 31 / Chapter 2 / Part 3 / Section 31-2-327
31-2-327 Uniformity of application and construction
Status: in_force

31-2-327 . Uniformity of application and construction. This part must be applied and construed to effectuate the general purpose of making uniform the law with respect to the subject of this part among states enacting it.
Mont. Code Ann. § 31-2-209 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-209
31-2-209 Assignment -- when void
Status: reserved

31-2-209 . Assignment -- when void. An assignment for the benefit of creditors is void against any creditor of the assignor not assenting to the assignment in the following cases:

(1) if the assignment gives a preference dependent upon any condition or contingency or with any power of revocation reserved;

(2) if the assignment tends to coerce any creditor to release or compromise the creditor's demand;

(3) if the assignment provides for the payment of any claim known by the assignor to be false or fraudulent or for the payment of more upon any claim than is known to be justly due from the assignor;

(4) if the assignment reserves any interest in the assigned property or in any part of the property to the assignor or for the assignor's benefit before all existing debts are paid;

(5) if the assignment confers upon the assignee any power that, if exercised, might prevent or delay the immediate conversion of the assigned property to the purposes of the trust;

(6) if the assignment exempts the assignor from liability for neglect of duty or misconduct.
Mont. Code Ann. § 31-4-204 — MT Code / Title 31 / Chapter 4 / Part 2 / Section 31-4-204
31-4-204 Restriction on disclosure of proprietary information
Status: in_force

31-4-204 . Restriction on disclosure of proprietary information. A party to a civil action or administrative proceeding in this state may not disclose to or share with a foreign person, a foreign adversary, or a foreign person of concern any proprietary information received in conjunction with or in pursuit of a legal claim in this state.
Mont. Code Ann. § 31-3-111 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-111
31-3-111 Permissible purposes of reports
Status: in_force

31-3-111 . Permissible purposes of reports. A consumer reporting agency may furnish a consumer report under the following circumstances and no other:

(1) in response to the order of a court having jurisdiction to issue such an order;

(2) in accordance with the written instructions of the consumer to whom it relates;

(3) to a person which it has reason to believe:

(a) intends to use the information in connection with a credit transaction involving the consumer on whom the information is to be furnished and involving the extension of credit to, or review or collection of an account of, the consumer;

(b) intends to use the information for employment purposes;

(c) intends to use the information in connection with the underwriting of insurance involving the consumer;

(d) intends to use the information in connection with a determination of the consumer's eligibility for a license or other benefit granted by a governmental instrumentality required by law to consider an applicant's financial responsibility or status; or

(e) otherwise has a legitimate business need for the information in connection with a business transaction involving the consumer.
Mont. Code Ann. § 31-4-201 — MT Code / Title 31 / Chapter 4 / Part 2 / Section 31-4-201
31-4-201 Short title
Status: in_force

31-4-201 . Short title. This part may be cited as the "Foreign Investment in Litigation Financing Act".
Mont. Code Ann. § 31-1-202 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-202
31-1-202 Definitions -- scope
Status: in_force

31-1-202 . Definitions -- scope. (1) Unless the context requires otherwise, in this part, the following definitions apply:

(a) "Cash sale price" means the price stated in a retail installment contract or in a sales slip or other memorandum furnished by a retail seller to a retail buyer under or in connection with a retail charge account agreement for which the seller would have sold or furnished to the buyer and the buyer would have bought or obtained from the seller the goods or services that are the subject matter of the retail installment transaction, if the sale had been a sale for cash. The cash sale price may include any taxes, registration, certificate of title, license, and official fees and cash sale prices for services, if any, and for accessories and their installation and for delivering, servicing, repairing, or improving the goods.

(b) "Conspicuous" means that:

(i) a heading is in capital letters equal to or greater in size than the surrounding text or in contrasting type, font, or color than the surrounding text of the same or lesser size; or

(ii) language in the body of a record or display is in larger type than the surrounding text, is in contrasting type, font, or color than the surrounding text of the same size, or is set off from the surrounding text of the same size by symbols or other marks that call attention to the language.

(c) "Department" means the department of administration provided for in Title 2, chapter 15, part 10.

(d) "Finance charge" means the amount, as limited by 31-1-241 , in addition to the principal balance, agreed upon between the buyer and the seller, to be paid by the buyer for the privilege of purchasing goods or services to be paid for by the buyer in one or more deferred installments.

(e) "Goods" means all chattels personal, including motor vehicles and merchandise certificates or coupons exchangeable for chattels personal but not including money, things in action, or dwellings as defined in 15 U.S.C. 1602(w).

(f) "Holder" means:

(i) the retail seller of the goods or services under the retail installment contract or retail charge account agreement or a person who establishes and administers retail charge account agreements with retail buyers;

(ii) the assignee, if the retail installment contract or the retail charge account agreement or the balance in the account under either has been sold or otherwise transferred; or

(iii) any other person entitled to the rights of the retail seller under any retail installment contract or any retail charge account agreement.

(g) "Manufactured structure" means any structure, transportable in one or more sections, designed to be used as a single-family dwelling or commercial building with or without a permanent foundation when connected to the required utilities and includes the plumbing, heating, air-conditioning, and electrical systems contained in the structure.

(h) (i) "Motor vehicle" means any new or used automobile, motorcycle, quadricycle, truck, trailer, semitrailer, truck tractor, and all vehicles with any power, other than muscular power, primarily designed or used to transport persons or property on a public highway.

(ii) The term does not include any vehicle that runs only on rails or tracks or in the air.

(iii) The term does not include a dwelling as defined in 15 U.S.C. 1602(w).

(i) "Official fees" means:

(i) the fees prescribed by law for filing, recording, or otherwise perfecting and releasing or satisfying any title or lien retained or taken by a seller in connection with a retail installment transaction; or

(ii) the premium for insurance in lieu of filing, recording, or otherwise perfecting any title or lien retained or taken by a seller in connection with a retail installment transaction to the extent that the premium does not exceed the fees that would otherwise be payable for filing, recording, or otherwise perfecting and releasing or satisfying any title or lien retained or taken by a seller in connection with a retail installment transaction.

(j) "Person" means an individual, partnership, corporation, association, and any other group, however organized.

(k) "Principal balance" means the cash sale price of the goods or services that are the subject matter of a retail installment transaction plus the amounts, if any, included in the sale, if a separate identified charge is made and stated in the contract, for insurance and other benefits and official fees, minus the amount of the buyer's downpayment in money or goods.

(l) "Recreational vehicle" means a vehicular type unit that either has its own motor power or is mounted on or drawn by another vehicle and that is primarily designed as temporary living quarters for recreational, camping, or travel use.

(m) "Retail buyer" or "buyer" means a person who buys goods or obtains services from a retail seller in a retail installment transaction and not for the purpose of resale.

(n) "Retail charge account agreement" means an instrument in writing prescribing the terms of retail installment transactions that may be made under it from time to time under which a retail seller gives to a retail buyer the privilege of using a credit card issued by the retail seller or any other person or other credit confirmation or identification for the purpose of purchasing goods or services from the retail seller, from the retail seller and any other person, or from a person licensed or franchised by the retail seller and under the terms of which a finance charge may be computed in relation to the buyer's average daily balance in the account during the billing cycle or the buyer's balance from time to time.

(o) "Retail installment contract" or "contract" means an agreement evidencing a retail installment transaction entered into in this state under which a buyer promises to pay in one or more deferred installments the time sale price of goods or services, or both. The term includes a chattel mortgage, a conditional sales contract, and a contract for the bailment or leasing of goods by which the bailee or lessee contracts to pay as compensation for its use a sum substantially equivalent to or in excess of its value and by which it is agreed that the bailee or lessee is bound to become, or for no further or a merely nominal consideration has the option of becoming, the owner of the goods upon full compliance with the provisions of the contract.

(p) "Retail installment transaction" means a written contract to sell or furnish, or the sale or furnishing of, goods or services by a retail seller to a retail buyer pursuant to a retail charge account agreement or under a retail installment contract.

(q) "Retail seller" or "seller" means a person who sells goods or furnishes services to a retail buyer in a written retail installment contract or written retail installment transaction.

(r) (i) "Sales finance company" means a person engaged, in whole or in part, in the business of purchasing retail installment contracts from one or more sellers. The term includes but is not limited to a bank, trust company, investment company, credit union, or savings and loan association, if engaged in purchasing retail installment contracts.

(ii) The term does not include a person who makes only isolated purchases of retail installment contracts that are not being made in the course of repeated and successive purchases of retail installment contracts from the same seller.

(s) "Services" means work, labor, and services furnished in the delivery, installation, servicing, repair, or improvement of goods.

(t) "Time sale price" means the total of the cash sale price of the goods or services and the amount, if any, included for insurance and other benefits, if a separate identified charge is made for insurance and benefits, and the amounts of the official fees and the finance charge.

(2) (a) This part does not apply to the lending of money by banks or other lending institutions and securing loans by chattel mortgages of goods in the ordinary course of lending by those banks or other lending institutions.

(b) This part applies to the extension of credit by those banks or other lending institutions under retail installment contracts or credit cards issued by those banks or other lending institutions.

(c) This part does not apply to a transaction governed by Title 32, chapter 9, part 1.
Mont. Code Ann. § 31-4-102 — MT Code / Title 31 / Chapter 4 / Part 1 / Section 31-4-102
31-4-102 Definitions
Status: in_force

31-4-102 . Definitions. For the purposes of this part, the following definitions apply:

(1) "Consumer" means any person who is or may become a plaintiff, claimant, or complainant in conjunction with or in pursuit of a legal claim.

(2) "Entity" means any domestic or foreign corporation, partnership, limited partnership, limited liability company, trust, fund, plan, or any other business, enterprise, association, or organization of any kind or nature.

(3) "Legal claim" means a civil action, administrative proceeding, claim, or cause of action to recover damages or any form of monetary or injunctive relief in this state.

(4) "Legal representative" means an attorney or group of attorneys or law firm or group of law firms engaged to represent a consumer in conjunction with or in pursuit of a legal claim.

(5) (a) "Litigation financer" means any person or group of persons engaged in, or formed, created, or established for the purpose of engaging in, the business of litigation financing or any other business or economic activity in which a person or group of persons receive consideration of any kind in exchange for providing litigation financing.

(b) The term does not include:

(i) a party to the legal claim;

(ii) a legal representative engaged directly, or indirectly through another legal representative, to represent a party in conjunction with or in pursuit of the legal claim; or

(iii) an entity or insurer with a preexisting contractual obligation to indemnify or defend a party to a legal claim.

(6) "Litigation financing" means:

(a) the financing, funding, advancing, or loaning of money to a legal representative or to any person who has or may pursue or assert a legal claim or who is or may become a plaintiff in conjunction with or in pursuit of a legal claim if:

(i) repayment of all or a portion of the amount financed, funded, advanced, or loaned is contingent in any respect on the outcome of a legal claim or group of legal claims;

(ii) repayment is required only if the person prevails in conjunction with or in pursuit of a legal claim; or

(iii) the money or funds for the repayment of any amount of the financing, funding, advance, or loan is derived or sourced, directly or indirectly, from the proceeds of or other consideration realized from a judgment, award, settlement, verdict, or other form of monetary relief the person or legal representative may receive or recover in conjunction with or in pursuit of a legal claim or group of legal claims; or

(b) any agreement or arrangement involving the financing, funding, advancing, or loaning of money to a legal representative if the repayment of all or a portion of the amount financed, funded, advanced, or loaned is contingent on the outcome of any single legal claim or group of legal claims in which the legal representative represents one or more consumers.

(7) (a) "Litigation financing contract" means a written contract in which a person agrees to provide litigation financing to any person in consideration for:

(i) the payment of interest, fees, or other consideration to the person providing the litigation financing; or

(ii) granting or assigning to the person providing the litigation financing a right to receive payment from the value of any proceeds or other consideration realized from any judgment, award, settlement, verdict, or other form of monetary relief any consumer, legal representative, or other person may receive or recover in relation to the legal claim.

(b) The term includes an agreement related to a litigation financing contract.

(c) The term does not include any agreement, contract, or engagement of a legal representative to render legal services to a consumer on a contingency fee basis, including the advancement of legal costs by the legal representative, in which the services or costs are provided to or on behalf of a consumer by the legal representative representing the consumer in the legal claim.

(8) "Person" means an individual or an entity.

(9) "Proprietary information" means any documents, records, or information received by a party in conjunction with or in pursuit of a legal claim that has economic or commercial value in any person's business and is:

(a) designated as proprietary information by a party to the legal claim; or

(b) subject to a court order to protect, seal, or otherwise restrict the disclosure or sharing of the documents, records, or information.

(10) "Regulated lender" has the same meaning as in 31-1-111 .

(11) "Secretary" means the secretary of state provided for in Title 2, chapter 15, part 4.
Mont. Code Ann. § 31-1-223 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-223
31-1-223 Department authorized to participate in nationwide licensing system for purposes of licensing sales finance companies -- rulemaking
Status: in_force

31-1-223 . Department authorized to participate in nationwide licensing system for purposes of licensing sales finance companies -- rulemaking. (1) The department is authorized to participate in a nationwide licensing system for licensing purposes under this part and may require sales finance companies to apply for licensure in the manner and form that the department may direct.

(2) The department may establish requirements through rulemaking as necessary to comply with the protocols and procedures of a nationwide licensing system pertaining to fees, renewal dates, amending or surrendering a license, and any other activity necessary for participation in the nationwide licensing system.

(3) The department's portion of the licensing fees collected under this part must be deposited into the department's account in the state special revenue fund to be used for administering this part.
Mont. Code Ann. § 31-1-231 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-231
31-1-231 Requirements of retail installment contracts
Status: in_force

31-1-231 . Requirements of retail installment contracts. (1) Each retail installment contract must be in writing, signed by both the buyer and the seller, and completed as to all essential provisions prior to the signing of the contract by the buyer. However, if a retail installment transaction is a sale of goods other than a motor vehicle where title, lien, or other security interest is not retained or taken by the seller, then the retail installment contract is not required to be contained in a single document. In that case, if the contract is contained in more than one document, then one document may be an original document executed by the retail buyer applicable to purchases of goods or services to be made by the retail buyer from time to time, and in that case the document, together with the sales slip, account book, or other written statement relating to each purchase, must set forth all of the information required by this section and constitutes the retail installment contract for each purchase.

(2) The printed portion of the contract, other than instructions for completion, must be in at least 8-point type. The contract must conspicuously disclose the following notice:

"1. Notice to the buyer. Do not sign this contract before you read it or if it contains any blank spaces other than blank spaces for the serial number of the goods or other similar information and the due date of the first installment if the goods have not been delivered to you at the time you sign the contract.

2. You are entitled to an exact copy of the contract bearing your signature.

3. Under the law, you have the right to pay off in advance the full amount due and to obtain a partial refund of the finance charge."

(3) If the contract covers the sale of a motor vehicle, it must also contain a specific statement that is conspicuously disclosed that liability insurance coverage for bodily injury and property damage caused to others is not included if that is the case.

(4) The contract must contain the names of the seller and the buyer, the place of business of the seller, the residence or place of business of the buyer as specified by the buyer, and a description of the goods sold or services furnished or to be furnished and must clearly state and describe any collateral security taken for the buyer's obligation.

(5) The contract must contain the following items:

(a) the cash sale price of the goods or services;

(b) the amount of the buyer's downpayment and whether made in money or goods or partly in money and partly in goods, including a brief description of the goods traded in;

(c) the difference between items in subsections (5)(a) and (5)(b);

(d) the amount, if any, included for insurance and other benefits if a separate charge is made for insurance and other benefits, specifying the types of coverage and benefits;

(e) the amount of official fees;

(f) the principal balance, which is the sum of items in subsections (5)(c) through (5)(e);

(g) the amount of the finance charge;

(h) the total amount of the time balance, stated as one sum in dollars and cents, which is the sum of items in subsections (5)(f) and (5)(g), payable in installments by the buyer to the seller;

(i) the number of installments;

(j) the amount of each installment; and

(k) the due date or period of installments.

(6) The items in subsection (5) need not be stated in the sequence or order set forth, and additional items may be included to explain the computations made in determining the amount to be paid by the buyer.

(7) A retail installment contract may not be signed by any party when it contains blank spaces to be filled in after it has been signed, except that if delivery of the goods is not made at the time of the signing of the contract, the serial number of the goods or similar information and the due date of the first installment may be inserted in the contract after it is signed. The buyer's written acknowledgment, conforming to the requirements of 31-1-232 , of delivery of a copy of a contract, in any action or proceeding by or against a holder of the contract without knowledge to the contrary when the holder purchases the contract, must be conclusive proof:

(a) of the delivery;

(b) that the contract when signed did not contain any blank spaces except as provided in this subsection (7); and

(c) of compliance with 31-1-231 through 31-1-236 .

(8) If a retail installment transaction is subject to the federal Truth in Lending Act, 15 U.S.C. 1601-1667e, a seller that has complied with all of the requirements of the act must be considered to have satisfied the requirements of subsections (2) through (6) of this section.

(9) A person may not engage in any device or subterfuge intended to evade the requirements of this part, including making loans or assisting another in making loans disguised as personal property sales and leaseback transactions or disguising or assisting another in disguising loan proceeds as cash rebates for the pretextual installment sale of goods or services.
Mont. Code Ann. § 31-1-102 — MT Code / Title 31 / Chapter 1 / Part 1 / Section 31-1-102
31-1-102 Loan to be repaid in current money
Status: in_force

31-1-102 . Loan to be repaid in current money. A borrower of money, unless there is an express contract to the contrary, must pay the amount due in such money as is current at the time when the loan becomes due, whether such money is worth more or less than the actual money lent.
Mont. Code Ann. § 31-3-142 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-142
31-3-142 Civil liability for willful noncompliance
Status: in_force

31-3-142 . Civil liability for willful noncompliance. Any consumer reporting agency or user of information which willfully fails to comply with any requirement imposed under this part with respect to any consumer is liable to that consumer in an amount equal to the sum of:

(1) any actual damages sustained by the consumer as a result of the failure;

(2) such amounts of punitive damages as the court may allow; and

(3) in the case of any successful action to enforce any liability under this section, the costs of the action together with reasonable attorneys' fees as determined by the court.
Mont. Code Ann. § 31-3-125 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-125
31-3-125 Fees for disclosures to consumers
Status: in_force

31-3-125 . Fees for disclosures to consumers. A consumer reporting agency shall make all disclosures pursuant to 31-3-122 and 31-3-124 to the consumer, with appropriate fees to be established by the department of administration in accordance with the Montana Administrative Procedure Act.
Mont. Code Ann. § 31-4-202 — MT Code / Title 31 / Chapter 4 / Part 2 / Section 31-4-202
31-4-202 Definitions
Status: in_force

31-4-202 . Definitions. The definitions set forth in 31-4-102 apply for the purposes of this part. In addition, the following definitions apply for the purposes of this part:

(1) "Foreign adversary" means:

(a) a foreign government of a foreign country identified or designated as a foreign adversary pursuant to 15 CFR 791.4, as in effect on May 5, 2025;

(b) any political subdivision, agency, department, or political party of a foreign government identified in subsection (1)(a); or

(c) a foreign nongovernment person identified or designated by the United States secretary of commerce as a foreign adversary pursuant to 15 CFR 791.4, as in effect on May 5, 2025.

(2) "Foreign person" means:

(a) an individual who is not a citizen of the United States or is not an alien lawfully admitted for permanent residence in the United States;

(b) an entity that is not formed, organized, incorporated, or created in the United States;

(c) an entity of which a majority of the persons who own or control the entity are not citizens of the United States or are not aliens lawfully admitted for permanent residence in the United States;

(d) the government, a political subdivision, agency, department, or a political party of a country other than the United States;

(e) an entity that has a place of business in a country other than the United States and that has shares or other ownership interest held by the government or a government official of a country other than the United States; and

(f) an employee, officer, director, official, or member of an entity described in this subsection (2).

(3) "Foreign person of concern" means a person that:

(a) is formed, organized, incorporated, or created in a foreign country identified as a foreign adversary;

(b) is formed, organized, incorporated, owned, controlled, or affiliated, directly or indirectly, with a foreign adversary;

(c) maintains a personal residence or place of business in a foreign country identified as a foreign adversary; or

(d) is formed, organized, incorporated, owned, controlled, or affiliated, directly or indirectly, with a foreign person that has been:

(i) placed on the federal office of foreign assets control's specially designated nationals and blocked persons list, also known as the SDN list, as amended; or

(ii) designated by the United States secretary of state as a foreign terrorist person or organization.
Mont. Code Ann. § 31-2-104 — MT Code / Title 31 / Chapter 2 / Part 1 / Section 31-2-104
31-2-104 Payments in preference
Status: in_force

31-2-104 . Payments in preference. A debtor may pay one creditor in preference to another or may give to one creditor security for the payment of the creditor's demand in preference to another.
Mont. Code Ann. § 31-1-221 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-221
31-1-221 Licensing of sales finance companies required
Status: in_force

31-1-221 . Licensing of sales finance companies required. (1) A person may not engage in the business of a sales finance company, including the purchase of retail installment contracts that are entered into in this state, without a license as provided in this part, except that a bank, trust company, savings and loan association, or credit union authorized to do business in this state is not required to obtain a license under this part but shall comply with all of the other provisions of this part.

(2) The application for a license must be in writing in the form and submitted in the manner that the department may direct.

(3) The license fee for each calendar year or part of a year is $100 for the applicant's principal place of business and for each additional branch location at which the applicant engages in sales finance company activities concerning retail installment contracts between retail sellers and buyers in this state. A licensee need not maintain a physical place of business within this state.

(4) Except as provided in 31-1-222 , upon the submission of a complete license application and the payment of required fees, the department shall issue a license to the applicant to engage in the business of a sales finance company in accordance with the provisions of this part for a period that expires December 31 following the date of the license's issuance. The license is not transferable or assignable. A licensee may not transact any business provided for by this part under any other name.

(5) The department may direct that fees chargeable under subsection (3) be remitted to the department through a nationwide licensing system. The department's portion of fees charged and collected under this chapter must be deposited in the state special revenue fund for the use of the department in its supervision function.
Mont. Code Ann. § 31-3-121 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-121
31-3-121 Disclosures to governmental agencies
Status: in_force

31-3-121 . Disclosures to governmental agencies. Notwithstanding the provisions of 31-3-111 , a consumer reporting agency may furnish identifying information respecting any consumer, limited to the consumer's name, address, former addresses, places of employment, or former places of employment, to a governmental agency.
Mont. Code Ann. § 31-1-722 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-722
31-1-722 Prohibited and permitted fees -- attorney fees and costs
Status: in_force

31-1-722 . Prohibited and permitted fees -- attorney fees and costs. (1) A licensee may not charge or receive, directly or indirectly, any interest, fees, or charges except those specifically authorized by this section.

(2) A licensee may not charge a fee for making or carrying each deferred deposit loan authorized by this part that exceeds 36% per annum, exclusive of the insufficient funds fees authorized in subsections (3) and (4).

(3) If there are insufficient funds to pay a check on the date of presentment, a licensee may charge a fee, not to exceed $30. Only one fee may be collected pursuant to this subsection with respect to a particular check even if it has been redeposited and returned more than once. A fee charged pursuant to this subsection is a licensee's exclusive charge for late payment. A licensee or any collection agency acting as an agent of a licensee, as a holder in due course of a licensee, or under an agreement with a licensee to collect amounts due or asserted to be due may not collect damages under 27-1-717 (3) for an insufficient funds check.

(4) If the loan involves an electronic deduction and there are insufficient funds to deduct on the date on which the payment is due, a licensee may charge a fee, not to exceed $30. Only one fee may be collected pursuant to this subsection with respect to a particular loan even if the licensee has attempted more than once to deduct the amount due from the consumer's account. A fee charged pursuant to this subsection is a licensee's exclusive charge for late payment. A licensee or any collection agency acting as an agent of a licensee, as a holder in due course of a licensee, or under an agreement with a licensee to collect amounts due or asserted to be due may not collect damages under 27-1-717 (3) for an electronic deduction for which there are insufficient funds.

(5) If the loan agreement in 31-1-721 requires, reasonable attorney fees and court costs may be awarded to the party in whose favor a final judgment is rendered in any action on a deferred deposit loan entered into pursuant to this part.
Mont. Code Ann. § 31-1-104 — MT Code / Title 31 / Chapter 1 / Part 1 / Section 31-1-104
31-1-104 Interest defined
Status: in_force

31-1-104 . Interest defined. Interest is the compensation allowed by law or fixed by the parties for the use or forbearance or detention of money and includes loan origination fees, points, and prepaid finance charges, as defined in 12 CFR 226.2.
Mont. Code Ann. § 31-1-715 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-715
31-1-715 Loan requirements -- right of rescission -- arbitration -- completion of transaction
Status: in_force

31-1-715 . Loan requirements -- right of rescission -- arbitration -- completion of transaction. (1) A deferred deposit loan may not have a term that exceeds 31 days.

(2) The amount of the deferred deposit loan, exclusive of the fee allowed in 31-1-722 (2), may not exceed $300.

(3) The minimum amount of a deferred deposit loan is $50.

(4) The check written by the consumer in a deferred deposit loan must be made payable to the licensee.

(5) (a) The loan agreement must contain a provision that the consumer may rescind the transaction if, by 5 p.m. of the licensee's first business day following the day that the loan was executed, the consumer provides the licensee with cash or certified funds equaling 100% of the amount loaned to the consumer.

(b) A licensee may not charge a consumer any fee or interest if the consumer rescinds the loan as provided in subsection (5)(a).

(c) Except as provided in subsection (5)(a), a consumer does not have a right to rescind the loan unless the licensee agrees to the rescission.

(6) (a) A loan agreement may not contain a mandatory arbitration clause that is oppressive, unconscionable, unfair, or in substantial derogation of a consumer's rights.

(b) A mandatory arbitration clause that complies with the applicable standards of the American arbitration association must be presumed to not violate the provisions of subsection (6)(a).

(7) Only the licensee may make an electronic deduction from the consumer's account. The licensee shall ensure that information obtained from the consumer about the consumer's account remains confidential.

(8) The licensee shall provide the consumer, or each consumer if there is more than one, with a copy of the loan documents described in 31-1-721 upon consummation of the loan.

(9) The holder or assignee of any check written by a consumer in connection with a deferred deposit loan takes the instrument subject to all claims and defenses of the consumer.

(10) A deferred deposit loan transaction is completed when the licensee receives payment in full from the consumer in cash or, if payment is made by check or electronic transfer from the consumer's account, when the check or electronic transfer is debited to the consumer's account by the consumer's financial institution. Once a deferred deposit loan transaction is complete, a licensee may enter into a new deferred deposit loan with the consumer. Deferred deposit loans may not be renewed or extended.
Mont. Code Ann. § 31-1-106 — MT Code / Title 31 / Chapter 1 / Part 1 / Section 31-1-106
31-1-106 Legal interest
Status: in_force

31-1-106 . Legal interest. (1) Except as otherwise provided by the Uniform Commercial Code, 31-1-111 , and 31-1-112 , unless there is an express contract in writing fixing a different rate or a law or ordinance or resolution of a public body fixing a different rate on its obligations, interest is payable on all money at the rate of 10% a year after it becomes due on:

(a) any instrument of writing, except a judgment;

(b) an account stated;

(c) money lent or due on any settlement of accounts from the date on which the balance is ascertained; and

(d) money received for the use of another person and detained from that person.

(2) In the computation of interest for a period of less than 1 year, 365 days constitute a year.
Mont. Code Ann. § 31-1-729 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-729
31-1-729 Violation of specified federal laws -- rulemaking authority
Status: in_force

31-1-729 . Violation of specified federal laws -- rulemaking authority. (1) A violation of any applicable provision of the Truth in Lending Act, 15 U.S.C. 1601, et seq., the Equal Credit Opportunity Act, 15 U.S.C. 1691, et seq., the Fair Credit Reporting Act, 15 U.S.C. 1681, et seq., the Fair Debt Collection Practices Act, 15 U.S.C. 1692, et seq., the Financial Services Modernization Act of 1999 (Gramm-Leach-Bliley Act), 15 U.S.C. 6801, et seq., the USA PATRIOT Act of 2001, as reauthorized, Public Law 107-56, the John Warner National Defense Authorization Act for Fiscal Year 2007, Public Law 109-364, or any regulation promulgated under those acts is also a violation of this part.

(2) The department shall adopt rules to implement this section.
Mont. Code Ann. § 31-1-712 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-712
31-1-712 Notice of violation -- administrative hearing -- penalties -- liability
Status: in_force

31-1-712 . Notice of violation -- administrative hearing -- penalties -- liability. (1) If the department has probable cause to believe that a licensed or unlicensed person has violated any of the provisions of this part, a rule promulgated under this part, or an order issued by the department or has made a material misrepresentation to the department by act or omission, the department may issue a notice stating the alleged violation to the person.

(2) (a) The notice referred to in subsection (1) must comply with 2-4-601 and must include a statement that the person has an opportunity to request an administrative hearing under the Montana Administrative Procedure Act within 14 days of the date that the department's notice was mailed to the person.

(b) The department shall mail the notice by certified mail to a licensee's address of record with the department or to an unlicensed person at an address for the person known to the department. The department has complied with the service of process upon mailing the notice by certified mail.

(3) If a person served with a notice under subsection (2) admits to or does not contest having violated or is found after an administrative hearing to have violated this part, a rule promulgated under this part, or an order issued by the department or to have made a material misrepresentation to the department by act or omission, the department may impose a civil penalty not to exceed $1,000 for each violation and may issue an order revoking or suspending the right of the person or licensee, directly or through an officer, agent, employee, or representative, to do business in this state as a licensee or to engage in the business of making deferred deposit loans. In addition, the department may order restitution to borrowers and reimbursement for the department's cost in bringing the administrative action. The department's remedies specified in this part are cumulative, except that the remedies in 31-1-724 pertaining to a consumer's private rights of action are not available to the department.

(4) In addition to the penalties in subsection (3), any deferred deposit loan made by an unlicensed person is void, and the unlicensed person may not directly or indirectly collect, receive, or retain any loan principal, interest, fees, or other charges related to the loan.

(5) A revocation, suspension, or surrender of a license does not relieve the licensee from civil or criminal liability for acts committed prior to the revocation, suspension, or surrender of the license.

(6) The department may reinstate any suspended or revoked license if there is not a fact or condition existing at the time of reinstatement that would have justified the department's refusal to originally issue the license. If a license has been suspended or revoked for cause, an application may not be made for the issuance of a new license or the reinstatement of a suspended or revoked license for a period of 6 months from the date of suspension or revocation.

(7) All civil penalties collected pursuant to this section must be deposited in the state general fund.
Mont. Code Ann. § 31-1-711 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-711
31-1-711 Examinations -- fee
Status: in_force

31-1-711 . Examinations -- fee. (1) The department may conduct an examination of each licensee's deferred deposit lending operation to ensure that the licensee is in compliance with the provisions of this part.

(2) (a) A licensee shall pay the department a fee in the amount of $37.50 an hour for each examiner required to conduct an examination.

(b) The department may charge a licensee for no more than three examinations a year under this section.

(3) A licensee shall make available to a department examiner the information required under 31-1-714 or as required by rule.
Mont. Code Ann. § 31-3-126 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-126
31-3-126 Public record information for employment purposes
Status: in_force

31-3-126 . Public record information for employment purposes. A consumer reporting agency which furnishes a consumer report for employment purposes and which for that purpose compiles and reports items of information on consumers which are matters of public record and are likely to have an adverse effect upon a consumer's ability to obtain employment shall:

(1) at the time such public record information is reported to the user of such consumer report, notify the consumer of the fact that public record information is being reported by the consumer reporting agency, together with the name and address of the person to whom such information is being reported; or

(2) maintain strict procedures designed to insure that whenever public record information which is likely to have an adverse effect on a consumer's ability to obtain employment is reported it is complete and up-to-date. For purposes of this paragraph, items of public record relating to arrests, indictments, convictions, suits, tax liens, and outstanding judgments shall be considered up-to-date if the current public record status of the item at the time of the report is reported.
Mont. Code Ann. § 31-1-233 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-233
31-1-233 Insurance
Status: in_force

31-1-233 . Insurance. (1) The amount, if any, included for insurance that may be purchased by the holder of the contract may not exceed the applicable premiums chargeable in accordance with the rates filed with the insurance department of this state when the rates are required by law to be approved by the insurance department.

(2) All insurance purchased by the holder of the contract must be written by an insurance company authorized to do business in this state.

(3) A buyer may be required to provide insurance on the goods at the buyer's own cost for the protection of the seller or holder as well as the buyer, but the insurance is limited to insurance against substantial risk of loss, damage, or destruction of the goods.

(4) Any other insurance may be included in a retail installment transaction at the buyer's expense only if contracted for voluntarily by the buyer.

(5) If insurance for which an identified charge is made insures the life, safety, or health of the buyer or the buyer's interest in goods and is purchased by the holder, the holder shall within 30 days after the execution of the retail installment contract send or cause to be sent to the buyer a policy or policies or certificate or certificates of insurance, written by an insurance company authorized to do business in this state, clearly setting forth:

(a) the amount of the premium;

(b) the kind or kinds of insurance;

(c) the coverages; and

(d) if a policy, all the terms, exceptions, limitations, restrictions, and conditions of the contract or contracts of insurance or, if a certificate, a summary of the terms, exceptions, limitations, restrictions, and conditions.

(6) The holder may not decline existing insurance written by an insurance company authorized to do business in this state, and the buyer has the privilege of purchasing insurance from an insurance producer or broker of the buyer's own selection and of selecting the buyer's insurance company if:

(a) the insurance company is acceptable to the holder, which acceptance may not be unreasonably or arbitrarily withheld; and

(b) the inclusion of the cost of the insurance premium in the retail installment contract when the buyer selects the buyer's insurance producer, broker, or company is optional with the holder.

(7) If any insurance is canceled or the premium adjusted, any refund of the insurance premium received by the holder must be credited to the final maturing installment of the contract except to the extent applied toward payment for a similar insurance protecting the interests of the buyer and the holder or either of them.
Mont. Code Ann. § 31-2-221 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-221
31-2-221 Notice to creditors to present claims
Status: in_force

31-2-221 . Notice to creditors to present claims. (1) The judge may, upon the petition of the assignee, authorize the assignee to advertise for creditors to present to the assignee their claims, with the vouchers for the claims, duly verified, on or before a day to be specified in the advertisement, not less than 10 days from the publication. The advertisement or notice must be published in one newspaper, to be designated by the judge as most likely to give notice to the persons to be served, at least once and any additional times that the judge may direct. The last publication must be at least 1 week prior to the date specified.

(2) The verified claims of creditors must set forth whether any and, if so, what securities are held for the claims and whether any and, if so, what payments have been made on the claims.
Mont. Code Ann. § 31-2-227 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-227
31-2-227 Property exempt
Status: in_force

31-2-227 . Property exempt. Property exempt from execution and insurance upon the life of the assignor do not pass to the assignee by a general assignment for the benefit of creditors unless the instrument specially mentions them and declares an intention that they should pass thereby.
Mont. Code Ann. § 31-3-132 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-132
31-3-132 Block of information on credit report
Status: in_force

31-3-132 . Block of information on credit report. (1) Within 30 days after a consumer reporting agency receives from a consumer a complaint of identity theft and documentation as provided in subsection (2), the consumer reporting agency shall permanently block any information that the consumer identifies from the consumer's report that resulted from identity theft as defined in 45-6-332 .

(2) To request a block of information on a consumer report, a consumer shall provide a consumer reporting agency with:

(a) a copy of a police report or an identity theft passport as provided in 46-24-220 ;

(b) the specific description of information that is to be blocked because it was a result of a violation of 45-6-332 .

(3) A consumer reporting agency shall notify the person furnishing the information that a police report has been filed and that a block has been requested and shall notify the person of the effective date of the block.

(4) A consumer reporting agency may decline to block information or may rescind any block of information if, in the exercise of good faith and reasonable judgment, the consumer reporting agency believes that:

(a) the information was blocked because of a misrepresentation of fact by the consumer in requesting the block under this section;

(b) the consumer agrees that the blocked information or portions of the blocked information were blocked in error; or

(c) the consumer knowingly obtained possession of goods, services, or money as a result of the transaction for which information was blocked or the consumer should have known that possession of goods, services, or money occurred because of the transaction for which information was blocked.

(5) If a consumer reporting agency declines to block information or rescinds a blocking of information under this section, the consumer reporting agency shall notify the consumer promptly in the same manner as required in 15 U.S.C. 1681i. The prior presence of the blocked information in the consumer reporting agency's file on the consumer is not evidence of whether the consumer knew or should have known that the consumer obtained possession of any goods, services, or money.

(6) In order to facilitate a consumer's right to block information as provided in subsection (1), a law enforcement agency shall provide to the consumer at the consumer's request a copy of a police report filed by the consumer that indicates that the consumer is a victim under 45-6-332 .
Mont. Code Ann. § 31-2-226 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-226
31-2-226 Accounting of assignee
Status: in_force

31-2-226 . Accounting of assignee. After 6 months from the date of an assignment for the benefit of creditors, the assignee may be required, on petition of any creditor, to make an accounting before the district court of the county where the accompanying inventory was filed.
Mont. Code Ann. § 31-1-112 — MT Code / Title 31 / Chapter 1 / Part 1 / Section 31-1-112
31-1-112 Interest rate limitation exemption -- regulated lenders -- merchant finance
Status: in_force

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.
Mont. Code Ann. § 31-2-103 — MT Code / Title 31 / Chapter 2 / Part 1 / Section 31-2-103
31-2-103 Contracts of debtor are valid
Status: in_force

31-2-103 . Contracts of debtor are valid. In the absence of fraud, every contract of a debtor is valid against all the debtor's creditors, existing or subsequent, who have not acquired a lien on the property affected by the contract.
Mont. Code Ann. § 31-2-330 — MT Code / Title 31 / Chapter 2 / Part 3 / Section 31-2-330
31-2-330 Value
Status: in_force

31-2-330 . Value. (1) Value is given for a transfer or an obligation if, in exchange for the transfer or obligation, property is transferred or an antecedent debt is secured or satisfied, but value does not include an unperformed promise made other than in the ordinary course of the promisor's business to furnish support to the debtor or another person.

(2) A transfer is made for present value if the exchange between the debtor and the transferee is intended by them to be contemporaneous and is in fact substantially contemporaneous.
Mont. Code Ann. § 31-1-234 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-234
31-1-234 Transfer of equity -- fee
Status: in_force

31-1-234 . Transfer of equity -- fee. A buyer may transfer the buyer's equity in the goods at any time to another person upon agreement by the holder, but the holder of the contract is entitled to a transfer of equity fee that may not exceed $50.
Mont. Code Ann. § 31-1-704 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-704
31-1-704 Scope
Status: in_force

31-1-704 . Scope. (1) This part applies to deferred deposit lenders and to persons who facilitate, enable, or act as a conduit for persons making deferred deposit loans.

(2) This part does not apply to retail sellers who cash checks incidental to or independent of a sale and who do not charge more than $2 a check for the service.
Mont. Code Ann. § 31-1-502 — MT Code / Title 31 / Chapter 1 / Part 5 / Section 31-1-502
31-1-502 Periodic statement to be furnished to debtor
Status: in_force

31-1-502 . Periodic statement to be furnished to debtor. (1) A seller may charge the late payment charge provided for in 31-1-501 only if the seller promptly supplies the buyer with a statement as of the end of each monthly period or other regular period agreed upon by the seller and the buyer in which there is any unpaid balance. The statement must recite the following:

(a) the percentage amount of the late payment charge that will be charged beginning 30 days after the obligation is incurred;

(b) the unpaid balance at the beginning or end of the period;

(c) an identification of any amounts debited to the buyer's account during the period;

(d) the payments made by the buyer to the seller during the period;

(e) the amount of the late payment charge and also the percentage annual simple interest equivalent of the amount; and

(f) a legend to the effect that the buyer may at any time pay the total unpaid balance.

(2) The items need not be stated in the sequence or order set forth in subsection (1). Additional items may be included to explain the computations made in determining the amount to be paid by the buyer.
Mont. Code Ann. § 31-4-203 — MT Code / Title 31 / Chapter 4 / Part 2 / Section 31-4-203
31-4-203 Prohibition on litigation funding by foreign adversaries or foreign persons of concern
Status: in_force

31-4-203 . Prohibition on litigation funding by foreign adversaries or foreign persons of concern. (1) A foreign adversary or a foreign person of concern may not engage in litigation financing in this state.

(2) A foreign adversary or a foreign person of concern may not, directly or indirectly, invest in, finance, fund, or loan money to a litigation financer engaged in litigation financing in this state.

(3) A litigation financer engaged in litigation financing in this state may not, directly or indirectly:

(a) become affiliated with or maintain an affiliation with a foreign adversary or a foreign person of concern;

(b) receive or accept money or funds from a foreign adversary or a foreign person of concern; or

(c) allow a foreign adversary or a foreign person of concern to invest in, maintain an ownership interest in, or exercise any control over the litigation financer.
Mont. Code Ann. § 31-1-109 — MT Code / Title 31 / Chapter 1 / Part 1 / Section 31-1-109
31-1-109 When interest becomes part of principal
Status: in_force

31-1-109 . When interest becomes part of principal. The parties may, in any contract in writing whereby any debt is secured to be paid, agree that, if the interest on such debt is not punctually paid, it shall become a part of the principal and thereafter bear the same rate of interest as the principal debt.
Mont. Code Ann. § 31-1-705 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-705
31-1-705 License -- application requirements -- business locations
Status: in_force

31-1-705 . License -- application requirements -- business locations. (1) A person may not engage in or offer to engage in the business of making deferred deposit loans unless licensed by the department. A license may be granted to a person located within the state or to a person located outside of the state who uses the internet, facsimiles, or third persons to conduct transactions with consumers in this state.

(2) An applicant for a license to engage in the business of making deferred deposit loans shall pay to the department a license application fee of $500. The department may direct that applicants remit fees to the department through a nationwide licensing system.

(3) The application for licensure must be in the form and submitted in the manner that the department directs.

(4) The license year is the calendar year, and all licenses expire on December 31 of each year.

(5) Each licensee shall post a bond in the amount of $10,000 for each location at or from which deferred deposit loan transactions are conducted with consumers in this state. The bond must continue in effect for 2 years after the licensee ceases operation in the state. The bond must be available to pay damages authorized under this part to consumers harmed by any violation of this part and to pay civil penalties, restitution, and costs ordered by the department pursuant to 31-1-712 for any violation of this part.

(6) More than one place of business may not be maintained under the same license. A person shall obtain a license for the person's principal place of business and a separate branch license for each additional place of business or location at or from which deferred deposit loan transactions are conducted with consumers in this state.
Mont. Code Ann. § 31-2-201 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-201
31-2-201 When debtor may execute assignment
Status: in_force

31-2-201 . When debtor may execute assignment. An insolvent debtor may, in good faith, execute an assignment of property to one or more assignees in trust for the satisfaction of the debtor's creditors, in conformity with the provisions of this part, subject to the provisions of this code relative to trusts and fraudulent transfers and to the restrictions imposed by law upon assignments by special partnerships, corporations, or other specific classes or persons.
Mont. Code Ann. § 31-2-225 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-225
31-2-225 When further security required
Status: in_force

31-2-225 . When further security required. The district judge may, upon the judge's own motion or upon the application of any party in interest and on notice that the judge may direct to be given to the assignor, assignee, and surety, require further security to be given whenever, in the judge's judgment, the security afforded by the bond on file is not adequate.
Mont. Code Ann. § 31-2-229 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-229
31-2-229 Assignees protected for acts done in good faith
Status: in_force

31-2-229 . Assignees protected for acts done in good faith. An assignee for the benefit of creditors may not be held liable for acts done in good faith in the execution of the trust merely for the reason that the assignment is afterwards adjudged void.
Mont. Code Ann. § 31-2-342 — MT Code / Title 31 / Chapter 2 / Part 3 / Section 31-2-342
31-2-342 Supplementary provisions
Status: in_force

31-2-342 . Supplementary provisions. Unless displaced by the provisions of this part, the principles of law and equity, including the law merchant and the law relating to principal and agent, estoppel, laches, fraud, misrepresentation, duress, coercion, mistake, insolvency, or other validating or invalidating cause, supplement its provisions.
Mont. Code Ann. § 31-2-334 — MT Code / Title 31 / Chapter 2 / Part 3 / Section 31-2-334
31-2-334 Transfers fraudulent as to present creditors
Status: in_force

31-2-334 . Transfers fraudulent as to present creditors. (1) A transfer made or obligation incurred by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made or the obligation was incurred if the debtor made the transfer or incurred the obligation without receiving a reasonably equivalent value in exchange for the transfer or obligation and the debtor was insolvent at that time or the debtor became insolvent as a result of the transfer or obligation.

(2) A transfer made by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made if the transfer was made to an insider for an antecedent debt, the debtor was insolvent at that time, and the insider had reasonable cause to believe that the debtor was insolvent.
Mont. Code Ann. § 31-2-206 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-206
31-2-206 Preference to be absolute
Status: in_force

31-2-206 . Preference to be absolute. A preference in an assignment for the benefit of creditors can only be given absolutely and without reserving any power of revocation.
Mont. Code Ann. § 31-2-208 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-208
31-2-208 Joint and separate debts
Status: in_force

31-2-208 . Joint and separate debts. Joint or joint and several debtors can prefer their joint creditors only out of joint property and can prefer the individual creditors of each only out of the separate property of each.
Mont. Code Ann. § 31-2-212 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-212
31-2-212 Assignee takes subject to rights of third parties
Status: in_force

31-2-212 . Assignee takes subject to rights of third parties. An assignee for the benefit of creditors is not to be regarded as a purchaser for value and has no greater rights than the assignor has in respect to things in action transferred by the assignment.
Mont. Code Ann. § 31-2-205 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-205
31-2-205 Preference given for wages
Status: in_force

31-2-205 . Preference given for wages. In all assignments of property made by any person, association, partnership, chartered company, or corporation to trustees or assignees on account of inability of the assignor at the time of the assignment to pay the assignor's debts or in proceedings in insolvency, the wages of the miners, mechanics, salespersons, servants, clerks, or laborers employed by the assignor for services rendered within 4 months immediately previous to the assignment, not to exceed the actual amount owed for each person, are preferred claims and must be paid by the trustees or assignees before any other creditor of the assignor.
Mont. Code Ann. § 31-1-310 — MT Code / Title 31 / Chapter 1 / Part 3 / Section 31-1-310
31-1-310 When note, instrument, or assignment void
Status: in_force

31-1-310 . When note, instrument, or assignment void. Any note, bill, or other evidence of indebtedness and any assignment of wages or salary given to or received by any wage broker in violation of any of the provisions of this part shall be void as against the creditors of the assignor or transferor.
Mont. Code Ann. § 31-1-710 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-710
31-1-710 Department authorized to participate in nationwide licensing system for purposes of licensing deferred deposit loan licensees -- rulemaking
Status: in_force

31-1-710 . Department authorized to participate in nationwide licensing system for purposes of licensing deferred deposit loan licensees -- rulemaking. (1) The department may participate in a nationwide licensing system for licensing purposes under this part and may require deferred deposit loan license applicants to apply for licensure in the manner that the department may direct on applications approved by the nationwide licensing system.

(2) The department may establish rules that are necessary to comply with the nationwide licensing system protocols and procedures pertaining to fees, renewal dates, amending or surrendering a license, and any other activity necessary for participation in the nationwide licensing system.

(3) The department's portion of the licensing fees collected through the nationwide licensing system must be deposited into the department's account in the state special revenue fund for use in the administration of this part.
Mont. Code Ann. § 31-1-702 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-702
31-1-702 Purpose -- rules -- fees
Status: in_force

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.
Mont. Code Ann. § 31-2-341 — MT Code / Title 31 / Chapter 2 / Part 3 / Section 31-2-341
31-2-341 Termination of cause of action
Status: in_force

31-2-341 . Termination of cause of action. A cause of action with respect to a fraudulent transfer or obligation under this part is terminated unless an action is brought under:

(1) 31-2-333 (1)(a) within 4 years after the transfer was made or the obligation was incurred or, if later, within 2 years after the transfer or obligation was or could reasonably have been discovered by the claimant;

(2) 31-2-333 (1)(b) or 31-2-334 (1) within 4 years after the transfer was made or the obligation was incurred; or

(3) 31-2-334 (2) within 2 years after the transfer was made or the obligation was incurred.
Mont. Code Ann. § 31-2-211 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-211
31-2-211 Compliance necessary to validity of assignment
Status: in_force

31-2-211 . Compliance necessary to validity of assignment. Unless the provisions of 31-2-210 are complied with, an assignment for the benefit of creditors is void against every creditor of the assignor not assenting thereto.
Mont. Code Ann. § 31-1-211 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-211
31-1-211 Powers of department
Status: in_force

31-1-211 . Powers of department. (1) The department may adopt rules necessary to carry out the intent and purposes of this part.

(2) The department may issue subpoenas to compel the attendance of witnesses and the production of documents, papers, books, records, and other evidence before it in any matter over which it has jurisdiction, control, or supervision pertaining to this part. The department may administer oaths and affirmations to a person whose testimony is required.

(3) If a person refuses to obey a subpoena or to give testimony or produce evidence as required by it, a judge of the district court of the county in which the licensed premises are located may, upon application and proof of the refusal, issue a subpoena or subpoena duces tecum for the witness to appear before the department to give testimony and produce evidence as may be required. The clerk of court shall then issue the subpoena, as directed, under the seal of the court, requiring the person to whom it is directed to appear at the time and place designated in it.

(4) If a person served with a subpoena refuses to obey it or to give testimony or produce evidence as required by the subpoena, the department may apply to the judge of the court issuing the subpoena for an arrest warrant for that person, as for a contempt. The judge, upon satisfactory proof of the refusal, shall issue an arrest warrant, directed to any sheriff, constable, or police officer, for the arrest of that person and, upon that person being brought before the judge, proceed to a hearing of the case. The judge may compel:

(a) obedience to the subpoena;

(b) the answering of any question;

(c) the production of any evidence that may be proper; or

(d) the witness to pay the costs of the proceeding.

(5) Failure to comply with the requirements of subsection (4)(a), (4)(b), or (4)(c) is punishable by a fine not exceeding $100 or by imprisonment in the county jail, or both.
Mont. Code Ann. § 31-2-203 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-203
31-2-203 Certain transfers not affected
Status: in_force

31-2-203 . Certain transfers not affected. The provisions of this part do not prevent a person residing in another state or country from making there, in good faith and without intent to evade the laws of this state, a transfer of property situated within the other state or territory. This part does not affect the power of a person, although insolvent and within this state, to transfer property to a particular creditor for the purpose of paying or securing the whole or a part of a debt owing to the creditor, whether in the person's own right or otherwise.
Mont. Code Ann. § 31-2-335 — MT Code / Title 31 / Chapter 2 / Part 3 / Section 31-2-335
31-2-335 When transfer made or obligation incurred
Status: in_force

31-2-335 . When transfer made or obligation incurred. For the purposes of this part:

(1) a transfer is made:

(a) with respect to an asset that is real property other than a fixture, but including the interest of a seller or purchaser under a contract for the sale of the asset, when the transfer is so far perfected that a good faith purchaser of the asset from the debtor against whom applicable law permits the transfer to be perfected cannot acquire an interest in the asset that is superior to the interest of the transferee; and

(b) with respect to an asset that is not real property or that is a fixture, when the transfer is so far perfected that a creditor on a simple contract cannot acquire a judicial lien otherwise than under this part that is superior to the interest of the transferee;

(2) if applicable law permits the transfer to be perfected as provided in subsection (1) and the transfer is not perfected before the commencement of an action for relief under this part, the transfer is considered made immediately before the commencement of the action;

(3) if applicable law does not permit the transfer to be perfected as provided in subsection (1), the transfer is considered made when it becomes effective between the debtor and the transferee;

(4) a transfer is not made until the debtor has acquired rights in the asset transferred;

(5) an obligation is incurred:

(a) if oral, when it becomes effective between the parties; or

(b) if evidenced in writing, when the writing executed by the obligor is delivered to or for the benefit of the obligee.
Mont. Code Ann. § 31-3-141 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-141
31-3-141 Actions available to consumer
Status: in_force

31-3-141 . Actions available to consumer. (1) A consumer may bring action in the nature of defamation, invasion of privacy, or negligence with respect to the reporting of information against any person who fails to comply with this part.

(2) A person who fails to delete information or incorporate into a report a consumer's statement of dispute because the person judges the dispute to be frivolous or irrelevant is liable to suit.

(3) A person, other than the department of public health and human services under 40-5-261 , who furnishes information to a consumer reporting agency that is false or a person who furnishes the information with malice or willful intent to injure the concerned consumer is liable to suit.

(4) A consumer who disputes the result of a reinvestigation conducted under 31-3-124 of the accuracy of information provided by the department of public health and human services may petition for an administrative hearing pursuant to 40-5-261 .
Mont. Code Ann. § 31-1-305 — MT Code / Title 31 / Chapter 1 / Part 3 / Section 31-1-305
31-1-305 Interest on loans -- amount and computation
Status: in_force

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.
Mont. Code Ann. § 31-1-721 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-721
31-1-721 Required disclosures -- loan agreement
Status: in_force

31-1-721 . Required disclosures -- loan agreement. (1) Before entering into a deferred deposit loan, the licensee shall deliver to the consumer a pamphlet prepared by or at the direction of the department that:

(a) explains, in simple language, all of the consumer's rights and responsibilities in a deferred deposit loan transaction;

(b) includes a telephone number to the department's office that handles concerns or complaints by consumers; and

(c) informs consumers that the department's office can provide information about whether a lender is licensed and other legally available information.

(2) Licensees shall provide consumers with a written agreement on a form specified or approved by the department that can be kept by the consumer, which must include the following information:

(a) the name, address, and phone number of the licensee making the deferred deposit loan and the initials or other written means of identifying the individual employee who signs the agreement on behalf of the licensee;

(b) the name, address, and phone number of the consumer obtaining the deferred deposit loan;

(c) all disclosures required by the federal Truth in Lending Act, 15 U.S.C. 1601, et seq.;

(d) a clear description of the consumer's payment obligations under the loan; and

(e) in a manner that is more conspicuous than the other information provided in the loan document and that is in at least 14-point bold typeface, a statement that "you cannot be prosecuted in criminal court for collection of this loan". The statement must be located immediately preceding the signature of the consumer.
Mont. Code Ann. § 31-1-243 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-243
31-1-243 Refinancing retail installment contract
Status: in_force

31-1-243 . Refinancing retail installment contract. The holder of a contract, upon request by the buyer, may extend the scheduled due date of all or any part of any installment or installments or defer payment or payments or renew or restate the unpaid time balance of the contract, the amount of the installments, and the time schedule for the installments and may collect for the extension, deferment, renewal, or restatement a refinance charge. The holder may compute the refinance charge on the unpaid time balance to be extended, deferred, renewed, or restated by adding to the unpaid time balance the cost for any insurance and other benefits incidental to the refinancing plus any accrued delinquency and collection charges, after deducting any refund that may be due the buyer as for a prepayment pursuant to 31-1-242 at the rate of the finance charge specified in 31-1-241 . If all unpaid installments are deferred for not more than 2 months, the holder may charge and collect for the deferment an amount equal to the difference between the refund required for prepayment in full under 31-1-242 as of the scheduled due date of the first deferred installment and the refund required for prepayment in full as of 1 month prior to the date, times the number of months in which a scheduled payment is not made.
Mont. Code Ann. § 31-1-309 — MT Code / Title 31 / Chapter 1 / Part 3 / Section 31-1-309
31-1-309 Violation -- penalties
Status: in_force

31-1-309 . Violation -- penalties. Any person, company, corporation, or association and any officer, member, agent, or employee thereof violating any or either of the provisions of 31-1-301 to 31-1-308 , both inclusive, shall be deemed guilty of a misdemeanor and upon conviction shall be liable to a fine in the sum of not less than $100 or more than $500 for each offense or to imprisonment in the county jail for a period not to exceed 90 days, or both, and in addition thereto the debt and accrued interest thereon shall be discharged and the security shall be void.
Mont. Code Ann. § 31-1-303 — MT Code / Title 31 / Chapter 1 / Part 3 / Section 31-1-303
31-1-303 Wage broker defined
Status: in_force

31-1-303 . Wage broker defined. Any person, company, corporation, or association parting with, giving, or loaning money, either directly or indirectly, to any employee or wage earner, upon the security of or in consideration of any assignment or transfer of wages or salary of such employee or wage earner, shall be deemed to be a wage broker within the meaning of this part.
Mont. Code Ann. § 31-1-304 — MT Code / Title 31 / Chapter 1 / Part 3 / Section 31-1-304
31-1-304 Restrictions upon assignment of wages or salary
Status: in_force

31-1-304 . Restrictions upon assignment of wages or salary. An assignment of wages or salary by any employee or wage earner to any wage broker for the employee's or wage earner's benefit is not valid or enforceable, and an employer or debtor may not recognize or honor the assignment for any purpose whatever unless the assignment is for a fixed and definite part or all of the wages or salary earned.
Mont. Code Ann. § 31-2-220 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-220
31-2-220 Management, disposal, and conversion of estate
Status: in_force

31-2-220 . Management, disposal, and conversion of estate. (1) Until the inventory and affidavit required by 31-2-213 and 31-2-214 have been made and filed and the assignee has given bond as required by 31-2-219 , the assignee for the benefit of creditors has no authority to dispose of the estate or convert it to the purposes of the trust.

(2) However, if the assignor fails to present the inventory within the required 20 days, then the assignee, before the 10 days have elapsed, may apply to the district judge by verified petition for leave to file a provisional bond until the time that the assignor may be able to present the inventory as provided in this section.

(3) The district judge shall, in the case described in 31-2-214 , and may also at any time on the petition of one or more creditors showing misconduct or incompetency of the assignee or on petition of the assignee, showing sufficient reason, and after due notice of not less than 5 days to the assignor, assignee, surety, and other persons that the judge may prescribe:

(a) remove or discharge the assignee and appoint one or more assignees in the former assignee's place; and

(b) order an accounting of the assignee removed or discharged.

(4) The district judge may:

(a) enjoin the assignee from interfering with the assignor's estate and make provision by order for the safe custody of the estate; and

(b) enforce obedience to the injunction and orders by attachment.

(5) Upon discharge, upon the former assignee's application, the former assignee's bond must be canceled and discharged.

(6) The new assignee shall give a bond, which must be approved as required.

(7) The district judge has power by order to:

(a) require or allow any inventory or schedule filed to be corrected or amended;

(b) require and compel, from time to time, supplemental inventories or schedules to be made and filed within the time that the judge prescribes; and

(c) enforce obedience to the orders by attachment.
Mont. Code Ann. § 31-4-108 — MT Code / Title 31 / Chapter 4 / Part 1 / Section 31-4-108
31-4-108 Disclosure and discovery of litigation financing contracts
Status: in_force

31-4-108 . Disclosure and discovery of litigation financing contracts. (1) Except as otherwise stipulated or ordered by a court of competent jurisdiction, a consumer or the consumer's legal representative or a party or a party's legal representative shall, without awaiting a discovery request, disclose and deliver to the following persons the litigation financing contract:

(a) each party to the civil action, administrative proceeding, claim, or cause of action, or to each party's legal representative;

(b) the court, agency, or tribunal in which the civil action, administrative proceeding, claim, or cause of action may be pending; and

(c) any known person, including an insurer, with a preexisting contractual obligation to indemnify or defend a party to the civil action, administrative proceeding, claim, or cause of action.

(2) The disclosure obligation under subsection (1) exists regardless of whether a civil action or an administrative proceeding has commenced.

(3) The disclosure obligation under subsection (1) is a continuing obligation, and within 30 days of entering into a litigation financing contract or amending an existing litigation financing contract, the consumer or the consumer's legal representative or a party or a party's legal representative shall disclose and deliver any new or amended litigation financing contracts.

(4) The existence of the litigation financing contract and all participants or parties to a litigation financing contract are permissible subjects of discovery in any civil action, administrative proceeding, claim, or cause of action to which litigation financing is provided under the litigation financing contract, regardless of whether a civil action or an administrative proceeding has commenced.
Mont. Code Ann. § 31-1-116 — MT Code / Title 31 / Chapter 1 / Part 1 / Section 31-1-116
31-1-116 Commercial loans -- when written agreement required
Status: in_force

31-1-116 . Commercial loans -- when written agreement required. (1) With respect to a commercial loan, a contract action or a breach of contract action may not be brought against a regulated lender on a promise or commitment that is not in writing where the promise or commitment is to:

(a) lend money or to extend credit;

(b) alter, amend, renew, extend, or otherwise modify an existing promise, commitment, or agreement to lend money or extend credit; or

(c) make a financial accommodation.

(2) For the purposes of this section, "commercial loan" means money loaned or credit extended primarily for commercial or business purposes, in excess of $100,000, and does not include money lent or credit extended for personal, family, or household purposes and also does not include charge or credit card accounts, personal lines of credit, personal overdraft accounts, or other consumer accounts.
Mont. Code Ann. § 31-2-214 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-214
31-2-214 Verification of inventory -- when assignee required to file -- inspection of assignor's books and papers
Status: in_force

31-2-214 . Verification of inventory -- when assignee required to file -- inspection of assignor's books and papers. (1) An affidavit must be made by every person executing an assignment for the benefit of creditors, to be annexed to and filed with the inventory mentioned in 31-2-213 , to the effect that the affidavit is in all respects just and true according to the best of the assignor's knowledge and belief.

(2) (a) If the assignor omits, neglects, or refuses to make and deliver the inventory within the required 20 days, the assignee named in the assignment shall, within 30 days after the required date, cause to be made and delivered to the judge of the district court of the county where the assignment is recorded the inventory as described in subsection (1), insofar as the assignee can.

(b) For the purpose of subsection (2)(a), the judge shall, at any time upon the application of the assignee, compel by order the delinquent assignor and any other person to appear before the judge and disclose, upon oath, any knowledge or information the assignor or person may possess necessary to the proper making of the inventory.

(c) The assignee shall verify the inventory made by the assignee to the effect that the inventory is in all respects just and true to the best of the assignee's knowledge and belief.

(3) If the assignee is unable to make and file the inventory within 30 days, the district judge may, upon application upon oath showing the inability, allow the assignee further time as necessary, not exceeding 60 days.

(4) If the assignee fails to make and file the inventory within 30 days or the further time that may be allowed, the district judge shall require, by order, the assignee to appear before the judge and show cause why the assignee should not be removed. Any person interested in the trust estate may apply for the order and demand the removal.

(5) The books and papers of the delinquent assignor must at all times be subject to the inspection and examination of any creditor. The district judge is authorized by order to require the debtor or assignee to allow the inspection or examination. Disobedience to an inspection order is a contempt, and obedience to the order may be enforced by attachment.

(6) The inventory must be filed by the district judge in the office of the clerk of the county in which the assignment is recorded.
Mont. Code Ann. § 31-1-201 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-201
31-1-201 Short title
Status: in_force

31-1-201 . Short title. This part may be cited as the "Montana Retail Installment Sales Act".
Mont. Code Ann. § 31-1-703 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-703
31-1-703 Definitions
Status: in_force

31-1-703 . Definitions. For the purposes of this part, the following definitions apply:

(1) "Account" means any banking, checking, credit union, commercial, savings, savings and loan, brokerage, investment, or other kind of depository account held by a consumer.

(2) "Check" means a negotiable instrument, as defined in 30-3-104 , that is drawn on a state or federal bank, credit union, or savings and loan association and is payable on demand at the maturity of a deferred deposit loan.

(3) "Consumer" means a natural person who, singly or jointly with another natural person, enters into a deferred deposit loan.

(4) "Deferred deposit lender" or "licensee" means a person engaged in the business of making deferred deposit loans.

(5) "Deferred deposit loan" means an arrangement, including all representations made by the deferred deposit lender whether express or implied, in which:

(a) a person accepts a check dated on the date on which the check is written and agrees to hold the check for a period of days prior to deposit or presentment;

(b) a person accepts a check dated subsequent to the date on which the check is written and agrees to hold the check for deposit or presentment until the date written on the check; or

(c) a person accepts written authorization from a consumer to electronically deduct from the consumer's account on a specific date the amount of the loan and fees that are authorized under this part.

(6) "Department" means the department of administration.

(7) "Person" means a natural person, sole proprietorship, firm, partnership, corporation, or other entity.
Mont. Code Ann. § 31-2-224 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-224
31-2-224 Power of court
Status: in_force

31-2-224 . Power of court. The court has power to:

(1) authorize the business of the assignor to be conducted for a limited period by assignee, if necessary in the best interests of the estate, and allow additional compensation for the services;

(2) reopen estates when it appears they were closed before being fully administered and for that purpose to appoint another assignee who will take title to the property not administered;

(3) direct upon the final settlement of the estate that the assignee pay to the lawful creditors their proportionate dividend, notwithstanding that their claim has not been presented in accordance with the notice sent out by the assignee, provided that 4 months have not elapsed since the first publication of notice to creditors;

(4) approve the final report and discharge the assignee and the assignee's surety from all further liabilities upon matters included in the accounting to creditors appearing and to creditors not having appeared after due citation or not having presented their claims after due advertisement.
Mont. Code Ann. § 31-3-113 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-113
31-3-113 Disclosure of investigative consumer reports
Status: in_force

31-3-113 . Disclosure of investigative consumer reports. (1) A person may not procure or cause to be prepared or distribute an investigative consumer report on any consumer unless:

(a) it is clearly and accurately disclosed to the consumer that an investigative consumer report, including information as to the consumer's character, general reputation, personal characteristics, and mode of living, whichever are applicable, may be made and the disclosure is made in a writing mailed or otherwise delivered to the consumer not later than 3 days after the date on which the report was first requested and includes a statement informing the consumer of the right to request the additional disclosures provided for under subsection (2); or

(b) the report is to be used for employment purposes for which the consumer applied.

(2) Any person who procures or causes to be prepared an investigative consumer report on any consumer shall, upon written request made by the consumer within a reasonable period of time after the receipt by the person of the disclosure required by subsection (1)(a), make a complete and accurate disclosure of the nature, scope, and substance of the investigation requested. This disclosure must be made in a writing and must be mailed or otherwise delivered to the consumer not later than 5 days after the date on which the request for the disclosure was received from the consumer or the report was first requested, whichever is later.

(3) A person may not be held liable for any violation of subsection (1) or (2) if the person shows by a preponderance of the evidence that at the time of the violation the person maintained reasonable procedures to ensure compliance with subsection (1) or (2).
Mont. Code Ann. § 31-1-727 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-727
31-1-727 Cease and desist orders
Status: in_force

31-1-727 . Cease and desist orders. (1) If the department determines that a person has engaged in or is about to engage in any act or practice constituting a violation of any provision of this part or any rule adopted or order issued by the department pursuant to this part, the department may issue an order directing the person to cease and desist from continuing the act or practice after issuance and service of a notice as provided in 31-1-712 . The order may apply only to the alleged act or practice constituting a violation of this part.

(2) The department may issue a temporary order pending the hearing that:

(a) remains in effect until 14 days after the hearings examiner issues proposed findings of fact and conclusions of law and a proposed order; or

(b) becomes final if the person to whom notice is issued and served as provided in 31-1-712 does not request a hearing within 14 days after the date on which the notice was sent by certified mail.

(3) A violation of an order issued pursuant to this section is subject to the penalty provisions of this part.
Mont. Code Ann. § 31-2-202 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-202
31-2-202 Insolvency -- what constitutes
Status: in_force

31-2-202 . Insolvency -- what constitutes. A debtor is insolvent, within the meaning of this part, when the debtor is unable to pay the debtor's debts from the debtor's own means as they become due.
Mont. Code Ann. § 31-1-707 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-707
31-1-707 Denial of license and license renewal
Status: in_force

31-1-707 . Denial of license and license renewal. (1) (a) Except as provided in subsection (1)(b), the department shall deny any new license or refuse to renew any license if:

(i) the applicant does not meet the qualifications stated in this part or in rules adopted pursuant to this part;

(ii) the department finds that the criminal history of any employee of the applicant at the time of application or renewal demonstrates any conviction involving fraud or financial dishonesty or if the department's findings show civil judgments involving fraudulent or dishonest financial dealings;

(iii) the financial responsibility, experience, character, and general fitness of the applicant do not warrant the belief that the business will be operated lawfully and fairly and within the provisions of this part;

(iv) the applicant does not have unencumbered assets of at least $25,000 for each location to be operated by the applicant;

(v) other information that the department considers necessary has not been provided; or

(vi) the applicant makes any material misstatement of fact or any material omission of fact in the application.

(b) A denial is not required pursuant to subsection (1)(a)(ii) if the department finds that the applicant dismissed the employee promptly upon learning of the employee's conviction involving fraud or financial dishonesty or of civil judgments involving fraudulent or dishonest financial dealings by the employee.

(2) The department shall provide written notice to the applicant of the denial or refusal, setting forth in the notice the grounds upon which the denial or refusal is based.

(3) The applicant has the right to a hearing under the Montana Administrative Procedure Act on any denial or refusal to issue a license. The request for a hearing must be made within 14 days of the date of receipt of the written notice of denial or refusal.

(4) An applicant whose application for licensure or renewal has been denied or refused may not reapply for 1 year following the denial or refusal.
Mont. Code Ann. § 31-1-714 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-714
31-1-714 Information and annual reports
Status: in_force

31-1-714 . Information and annual reports. (1) Each licensee shall keep and use books, accounts, and records that will enable the department to determine if the licensee is complying with the provisions of this part and maintain any other records required by the department. The department is authorized to examine the records at any reasonable time. The records must be kept for 2 years following the last entry on a loan and must be kept according to generally accepted accounting procedures that include an examiner being able to review the recordkeeping and reconcile each deferred deposit loan with documentation maintained in the consumer's loan file records.

(2) Each licensee shall submit an annual report with the department on the date and in the form and manner that the department directs regarding the licensee's deferred deposit loan activity with consumers in this state during the preceding calendar year. The report must contain the following information:

(a) the resources, assets, and liabilities of the licensee at the beginning and the end of the period;

(b) the income, expense, gain, loss, and balance sheets;

(c) the total number of deferred deposit loans made in the year ending as of December 31 of the previous year, including:

(i) the number of individual consumers with 12 or fewer new deferred deposit loans; and

(ii) the number of individual consumers with 13 or more new deferred deposit loans;

(d) the average deferred deposit loan amount, average annual interest percentage rate, and average deferred deposit loan term;

(e) the number of deferred deposit loans rescinded;

(f) the total number of deferred deposit loans outstanding as of December 31 of the previous year;

(g) the minimum and maximum amount of checks for which deposits were deferred in the year ending as of December 31 of the previous year;

(h) the total number and dollar amount of returned checks, the total number and dollar amount of checks recovered, and the total number and dollar amount of checks charged off during the year ending as of December 31 of the previous year;

(i) the total number and dollar amount of agreements involving electronic transactions or deductions, the total number and dollar amount of electronic deductions made by the licensee, and the total number and dollar amount of electronic deductions for insufficient funds charged off during the year ending as of December 31 of the previous year; and

(j) verification that the licensee has not used a criminal process or caused a criminal process to be used in the collection of any deferred deposit loans or used any civil process to collect the payment of deferred deposit loans not generally available to creditors to collect on loans in default during the year ending as of December 31 of the previous year.

(3) A report must be executed by an individual representative of the licensee in the manner the department may direct, and the department may require that the report be executed in conformance with any protocols of a nationwide licensing system.

(4) (a) If a licensee conducts another business or is affiliated with other licensees under this part or if any other situation exists under which allocations of expense are necessary, the licensee shall make the allocation according to appropriate and reasonable accounting principles as approved by the department.

(b) Information about any other business conducted on the same premises where deferred deposit loans are made must be provided as required by the department.

(5) Each licensee shall file a copy of the disclosure documents described in 31-1-721 with the department prior to the date of commencement of business at each location, at the time any changes are made to the documents, and annually upon renewal of the license. These documents must be available to interested parties and to the general public through the department.
Mont. Code Ann. § 31-3-101 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-101
31-3-101 Purpose
Status: in_force

31-3-101 . Purpose. It is the purpose of this part to require that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy, and proper utilization of such information in accordance with the requirements of this part. A further purpose of this part is to guard an individual's right to privacy guaranteed in Article II, section 10, of the Montana constitution.
Mont. Code Ann. § 31-1-706 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-706
31-1-706 License renewal fee
Status: in_force

31-1-706 . License renewal fee. (1) A person licensed under 31-1-705 shall pay an annual license renewal fee of $500 for each license that the person holds under this part.

(2) The department may direct that fees due the department under subsection (1) be remitted to the department through a nationwide licensing system.
Mont. Code Ann. § 31-4-101 — MT Code / Title 31 / Chapter 4 / Part 1 / Section 31-4-101
31-4-101 Short title
Status: in_force

31-4-101 . Short title. This part may be cited as the "Litigation Financing Transparency and Consumer Protection Act".
Mont. Code Ann. § 31-1-115 — MT Code / Title 31 / Chapter 1 / Part 1 / Section 31-1-115
31-1-115 Issuing credit cards to minors -- collection of debt
Status: in_force

31-1-115 . Issuing credit cards to minors -- collection of debt. (1) An issuer of a credit card or similar loan advance access device may not issue a credit card or similar loan advance access device to a minor, as defined in 41-1-101 , residing in this state without first obtaining consent to the issuance from the minor's parent or legal guardian.

(2) An issuer of a credit card or similar loan advance access device that does not receive a parent's or legal guardian's consent, as required in subsection (1), before issuing the credit card or similar loan advance access device to a minor may not collect in this state from the minor or the minor's parent or guardian any debt incurred by the minor through the use of the credit card or similar loan advance access device.
Mont. Code Ann. § 31-3-131 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-131
31-3-131 Requirements on users of consumer reports
Status: in_force

31-3-131 . Requirements on users of consumer reports. (1) Whenever credit or insurance for personal, family, or household purposes or employment involving a consumer is denied or the charge for the credit or insurance is increased either wholly or partly because of information contained in a consumer report from a consumer reporting agency, the user of the consumer report shall advise the consumer against whom the adverse action has been taken and supply the name and address of the consumer reporting agency making the report.

(2) Whenever credit for personal, family, or household purposes involving a consumer is denied or the charge for the credit is increased either wholly or partly because of information obtained from a person other than a consumer reporting agency bearing upon the consumer's credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living, the user of the information shall, within a reasonable period of time, upon the consumer's written request for the reasons for the adverse action received within 60 days after the consumer learned of the adverse action, disclose the nature of the information to the consumer. The user of the information shall clearly and accurately disclose to the consumer the right to make the written request at the time the adverse action is communicated to the consumer.

(3) A person may not be held liable for any violation of this section if the person shows by a preponderance of the evidence that at the time of the alleged violation the person maintained reasonable procedures to ensure compliance with the provisions of subsections (1) and (2).
Mont. Code Ann. § 31-4-103 — MT Code / Title 31 / Chapter 4 / Part 1 / Section 31-4-103
31-4-103 Registration
Status: in_force

31-4-103 . Registration. (1) A person may not engage in litigation financing in this state unless the person is registered with the secretary of state as a litigation financer pursuant to this part.

(2) If the person registering as a litigation financer is an entity:

(a) the entity must be active and in good standing as reflected in the office of the secretary of state; and

(b) the entity's articles of incorporation, charter, articles of organization, certificate of limited partnership, or other organizational or governing document must contain a statement that the entity has the power to engage in the business of litigation financing and is designated as a litigation financer pursuant to this part.

(3) To register as a litigation financer, a person shall file a registration statement with the secretary of state setting forth the following information:

(a) the legal name of the litigation financer;

(b) the physical street address and mailing address of the litigation financer;

(c) a telephone number or e-mail address through which the litigation financer may be contacted;

(d) the physical street address and mailing address of the licensed financer's registered office and the name of the registered agent at the registered office who is authorized to accept service of process on behalf of the licensed financer; and

(e) any other information the secretary of state considers necessary.

(4) If the person seeking to register as a litigation financer is an entity, the following information must be set forth in the registration statement with respect to each person that, directly or indirectly, owns, controls, holds with the power to vote, or holds proxies representing 5% or more of the voting securities of the litigation financer:

(a) the legal name, physical street address, and mailing address of each person;

(b) if the person is an individual:

(i) the individual's occupation;

(ii) any offices and positions held with the litigation financer during the past 5 years; and

(iii) any conviction of a crime other than misdemeanor traffic violations during the past 10 years;

(c) if the person is an entity:

(i) the nature of the entity's business operations, if any, during the past 5 years or a description of the business intended to be done by the entity and the entity's subsidiaries, if any; and

(ii) a list of all individuals who are or who have been selected to become directors or officers of the entity and each subsidiary of the entity. The list must include for each individual the information required by subsection (2).

(5) A litigation financer subject to registration under this part shall file an amended registration within 30 days whenever the information contained in the most recently filed registration changes or becomes inaccurate or incomplete in any respect.

(6) The secretary of state is authorized to prescribe the forms and the filing fees the secretary of state considers necessary for the purposes of this part.

(7) All documents and information filed with the secretary of state pursuant to this section are public records.

(8) The secretary of state's duty to file documents under this section is ministerial. The secretary of state's filing or refusing to file a document does not create a presumption that:

(a) the document does or does not conform to the requirements of this chapter; or

(b) the information contained in the document is correct or incorrect.
Mont. Code Ann. § 31-3-152 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-152
31-3-152 Rules
Status: in_force

31-3-152 . Rules. The department of administration shall enforce this part and adopt rules necessary to carry out the intent of this part.
Mont. Code Ann. § 31-2-102 — MT Code / Title 31 / Chapter 2 / Part 1 / Section 31-2-102
31-2-102 Creditor defined
Status: in_force

31-2-102 . Creditor defined. A creditor is a person in whose favor an obligation exists, by reason of which the person is or may become entitled to the payment of money.
Mont. Code Ann. § 31-1-203 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-203
31-1-203 Notice and opportunity for hearing -- service -- penalties -- exception
Status: in_force

31-1-203 . Notice and opportunity for hearing -- service -- penalties -- exception. (1) The department shall provide a 14-day written notice of alleged violations of this part and opportunity for an administrative hearing under the Montana Administrative Procedure Act. The notice must be based on reasonable cause to believe that a licensee or any person, whether licensed or not, has:

(a) violated any of the provisions of this part;

(b) failed to comply with the rules or orders promulgated by the department;

(c) furnished false information to the department; or

(d) operated without a required license.

(2) The department may impose a civil penalty not to exceed $1,000 for each violation and may require restitution to buyers and reimbursement of the department's costs in bringing an administrative action.

(3) The department may suspend, revoke, or condition the license of a person violating this part. The suspension, revocation, or conditioning of a license does not affect the rights and obligations of the parties to retail installment contracts acquired previously by the licensee. If a licensee is a legal entity, it is sufficient cause for the suspension, revocation, or conditioning of a license that any officer, director, or trustee of a licensed association or corporation, any member or manager of a licensed limited liability company, or any partner of a licensed partnership has acted or failed to act so as to provide cause for suspending, revoking, or conditioning a license. Each licensee is responsible for the acts of the licensee's employees and agents acting within the course and scope of their employment or agency relationship with the licensee.

(4) In addition to other penalties provided by law, any person violating 31-1-231 through 31-1-243 , except as the result of an isolated accidental and bona fide error of computation, is barred from recovery of any finance, delinquency, or collection charge on the contract. A person violating 31-1-231 through 31-1-243 as a result of an isolated accidental and bona fide error of computation may not recover or retain any overcharge resulting from the error.

(5) In addition to other penalties provided by law, a violation of this part and a contract made in violation of the finance charge limitations imposed by 31-1-241 is a violation of Title 30, chapter 14, part 1.

(6) All notices, hearing schedules, and orders must be mailed by certified mail to the licensee's Montana address of record with the department or in the case of an unlicensed person to the last address known to the department. For licensees authorized to do business in this state and having no physical business location or address in this state, service of process must be made by certified mail upon the licensee's registered agent of record with the secretary of state, and subsequent hearing schedules and orders must be mailed by certified mail to the licensee's out-of-state address of record with the department.
Mont. Code Ann. § 31-2-339 — MT Code / Title 31 / Chapter 2 / Part 3 / Section 31-2-339
31-2-339 Remedies of creditors
Status: in_force

31-2-339 . Remedies of creditors. (1) In an action for relief against a transfer or obligation under this part, a creditor, subject to the limitations in 31-2-340 , may obtain:

(a) avoidance of the transfer or obligation to the extent necessary to satisfy the creditor's claim;

(b) an attachment or other provisional remedy against the asset transferred or other property of the transferee in accordance with the procedure prescribed by Title 27, chapter 18; or

(c) subject to applicable principles of equity and in accordance with applicable rules of civil procedure:

(i) an injunction against further disposition by the debtor or a transferee, or both, of the asset transferred or of other property;

(ii) appointment of a receiver to take charge of the asset transferred or of other property of the transferee; or

(iii) any other relief the circumstances may require.

(2) If a creditor has obtained a judgment on a claim against the debtor, the creditor, if the court so orders, may levy execution on the asset transferred or its proceeds.
Mont. Code Ann. § 31-4-120 — MT Code / Title 31 / Chapter 4 / Part 1 / Section 31-4-120
31-4-120 Joint and several liability for costs
Status: in_force

31-4-120 . Joint and several liability for costs. A litigation financer is jointly and severally liable for any award or order imposing or assessing costs or monetary sanctions against a consumer or a party's legal representative arising from or relating to any civil action, administrative proceeding, claim, or cause of action for which the litigation financer is providing litigation financing.
Mont. Code Ann. § 31-4-119 — MT Code / Title 31 / Chapter 4 / Part 1 / Section 31-4-119
31-4-119 Act violation -- unenforceable contract
Status: in_force

31-4-119 . Act violation -- unenforceable contract. (1) Any violation of this part by the litigation financer renders the litigation financing contract unenforceable by the litigation financer or any successor-in-interest to the litigation financing contract.

(2) If a litigation financer charges a rate of interest that exceeds the rate of interest allowed under 31-1-107 , the litigation financer shall be subject to a penalty for usury and an action to recover excessive interest as authorized under 31-1-108 .
Mont. Code Ann. § 31-2-106 — MT Code / Title 31 / Chapter 2 / Part 1 / Section 31-2-106
31-2-106 Exempt property -- bankruptcy proceeding
Status: in_force

31-2-106 . Exempt property -- bankruptcy proceeding. An individual may not exempt from the property of the estate in any bankruptcy proceeding the property specified in 11 U.S.C. 522(d). An individual may exempt from the property of the estate in any bankruptcy proceeding:

(1) that property exempt from execution of judgment as provided in 19-2-1004 , 19-18-612 , 19-19-504 , 19-20-706 , 19-21-212 , Title 25, chapter 13, part 6, 33-7-522 , 33-15-512 through 33-15-514 , 39-51-3105 , 39-71-743 , 39-73-110 , 53-2-607 , 53-9-129 , Title 70, chapter 32, and 80-2-245 ;

(2) medical care, health, and medical savings accounts as provided in 25-13-603 ;

(3) the individual's right to receive unemployment compensation and unemployment benefits; and

(4) the individual's right to receive benefits from or interest in a private or governmental retirement, pension, stock bonus, profit-sharing, annuity, or similar plan or contract on account of illness, disability, death, age, or length of service, excluding that portion of contributions made by the individual within 1 year before the filing of the petition in bankruptcy that exceeds 15% of the individual's gross income for that 1-year period, unless:

(a) the plan or contract was established by or under the auspices of an insider that employed the individual at the time the individual's rights under the plan or contract arose;

(b) the benefit is paid on account of age or length of service; and

(c) the plan or contract does not qualify under section 401(a), 403(a), 403(b), 408, or 409 of the Internal Revenue Code, 26 U.S.C. 401(a), 403(a), 403(b), 408, or 409.
Mont. Code Ann. § 31-4-107 — MT Code / Title 31 / Chapter 4 / Part 1 / Section 31-4-107
31-4-107 Litigation financing contract -- disclosures
Status: in_force

31-4-107 . Litigation financing contract -- disclosures. (1) The terms and conditions of a litigation financing contract must be set forth in a fully completed written contract with no terms or conditions omitted. The litigation financing contract must contain all terms and conditions at the time it is signed by any party to the litigation financing contract.

(2) On execution of a litigation financing contract, a litigation financer may not amend the terms or conditions of the litigation financing contract without full disclosure to and the prior written consent of all parties to the litigation financing contract.

(3) A litigation financing contract must set forth the name, physical street address, and mailing address of the litigation financer on page 1 of the litigation financing contract.

(4) A litigation financing contract must contain the following disclosures that constitute material terms and conditions of the litigation financing contract and must be typed in at least 14-point bold font and be placed clearly and conspicuously immediately above the consumer's signature line in the litigation financing contract:

"IMPORTANT DISCLOSURES -- PLEASE READ CAREFULLY

1. Right to Cancellation: You may cancel this litigation financing contract without penalty or further obligation within five (5) business days from the date you sign this contract or the date you receive financing from the litigation financer, whichever date is later. You may cancel by sending a notice of cancellation to the litigation financer and returning to the litigation financer any funds received from the litigation financer at the litigation financer's address set forth on page 1 of this contract.

2. The maximum amount the litigation financer may receive or recover from any payment may not exceed twenty-five percent (25%) of the amount of any judgment, award, settlement, verdict, or other form of monetary relief obtained in the civil action, administrative proceeding, claim, or cause of action that is the subject of this litigation contract.

3. The litigation financer agrees that it has no right to, and will not demand, request, receive, or exercise any right to, influence, affect, or otherwise make any decision in the handling, conduct, administration, litigation, settlement, or resolution of your civil action, administrative proceeding, claim, or cause of action. All of these rights remain solely with you and your legal representative.

4. If there is no recovery of any money from your civil action, administrative proceeding, claim, or cause of action, or if there is not enough money to satisfy in full the portion assigned to the litigation financer, you will not owe anything in excess of your recovery.

5. You are entitled to a fully completed contract with no terms or conditions omitted prior to signing. Before signing this contract, you should read the contract completely and consult an attorney."

(5) If the consumer is represented by a legal representative in the civil action, administrative proceeding, claim, or cause of action that is the subject of the litigation financing contract, the legal representative shall acknowledge in the contract that the legal representative and the legal representative's employer and employees have not received or paid a referral fee or any other consideration from or to the litigation financer and have no obligation to do so in the future.

(6) If the consumer's legal representative is a party to a litigation financing contract related to the consumer's civil action, administrative proceeding, claim, or cause of action that is the subject of the litigation financing contract, the legal representative shall disclose and deliver the litigation financing contract to the consumer. Following this disclosure and delivery, the consumer shall sign an acknowledgment that the consumer has read and understands the terms and conditions of the litigation financing contract and the consumer must be provided with a copy of the acknowledgment.
Mont. Code Ann. § 31-2-213 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-213
31-2-213 Inventory required
Status: in_force

31-2-213 . Inventory required. Within 20 days after an assignment is made for the benefit of creditors, the assignor must make and file, in the manner prescribed by 31-2-215 , a full and true inventory showing:

(1) all the creditors of the assignor;

(2) the place of residence of each creditor, if known to the assignor, or if not known, that fact must be stated;

(3) the sum owing to each creditor and the nature of each debt or liability, whether arising on written security, account, or otherwise;

(4) the true consideration of the liability in each case and the place where it arose;

(5) every existing judgment, mortgage, or other security for the payment of any debt or liability of the assignor;

(6) all property of the assignor at the date of the assignment which is exempt by law from execution; and

(7) all of the assignor's property at the date of the assignment, both real and personal, of every kind, not so exempt; the encumbrances existing thereon; all vouchers and securities relating thereto; and the value of such property, according to the best knowledge of the assignor.
Mont. Code Ann. § 31-2-219 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-219
31-2-219 Bond of assignees
Status: in_force

31-2-219 . Bond of assignees. Within 30 days after the date of an assignment for the benefit of creditors, the assignee must enter into a bond to the state, for the use and benefit of the creditors, in such amount as may be fixed by a judge of the district court of the county in which the original inventory is filed, with sufficient sureties to be approved by such judge, and conditioned for the faithful discharge of the trust and the due accounting for all moneys received by the assignee, which bond must be filed in the same office with the original inventory.
Mont. Code Ann. § 31-2-105 — MT Code / Title 31 / Chapter 2 / Part 1 / Section 31-2-105
31-2-105 Relative rights of different creditors
Status: in_force

31-2-105 . Relative rights of different creditors. When a creditor is entitled to resort to each of several funds for the satisfaction of the creditor's claim and another person has an interest in or is entitled as a creditor to resort to some but not all of the funds, the the other person may require the creditor to seek satisfaction from those funds to which the other person does not have a claim so far as it can be done without impairing the right of the creditor to complete satisfaction and without doing injustice to third persons.
Mont. Code Ann. § 31-3-124 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-124
31-3-124 Procedure in case of disputed accuracy
Status: in_force

31-3-124 . Procedure in case of disputed accuracy. (1) If the completeness or accuracy of any item of information contained in this file is disputed by a consumer and the dispute is directly conveyed to the consumer reporting agency by the consumer, the consumer reporting agency shall within a reasonable period of time reinvestigate and record the current status of that information unless it has reasonable grounds to believe that the dispute by the consumer is frivolous or irrelevant. If after such reinvestigation such information is found to be inaccurate or can no longer be verified, the consumer reporting agency shall promptly delete the information and notify all users, of whom the consumer reporting agency has records, of the information's deletion. The users shall also delete the information.

(2) If the reinvestigation does not resolve the dispute, the consumer may file a brief statement setting forth the nature of the dispute.

(3) Whenever a statement of a dispute is filed, unless there are reasonable grounds to believe that it is frivolous or irrelevant, the consumer reporting agency shall, in any subsequent consumer report containing the information in question, clearly note that it is disputed by the consumer and provide either the consumer's statement or a clear and accurate codification or summary thereof. The consumer reporting agency shall notify the consumer of all users, of whom it has records, who have the disputed information.
Mont. Code Ann. § 31-1-101 — MT Code / Title 31 / Chapter 1 / Part 1 / Section 31-1-101
31-1-101 Loan of money -- what constitutes
Status: in_force

31-1-101 . Loan of money -- what constitutes. A loan of money is a contract by which a person delivers a sum of money to another person and the other person agrees to return at a future time a sum equivalent to that which the other person borrowed. A loan for mere use is governed by the law on loan for use.
Mont. Code Ann. § 31-1-724 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-724
31-1-724 Civil remedies
Status: in_force

31-1-724 . Civil remedies. (1) The remedies provided in this section are cumulative and apply to licensees and unlicensed persons to whom this part applies.

(2) Any intentional violation of this part constitutes an unfair or deceptive trade practice.

(3) Any person found to have intentionally violated this part is liable to the consumer for actual and consequential damages, plus statutory damages of $1,000 for each violation, plus costs and attorney fees.

(4) A consumer may sue for injunctive and other appropriate equitable relief to stop a person from violating any provisions of this part.

(5) The consumer may bring a class action suit to enforce this part.

(6) The remedies provided in this section are not intended to be the exclusive remedies available to a consumer for a violation of this part.
Mont. Code Ann. § 31-1-501 — MT Code / Title 31 / Chapter 1 / Part 5 / Section 31-1-501
31-1-501 Late payment charges -- accounts receivable for merchandise sold at retail
Status: in_force

31-1-501 . Late payment charges -- accounts receivable for merchandise sold at retail. (1) Notwithstanding 31-1-106 or 31-1-107 , a person who sells goods, as defined in 31-1-202 , at retail to a retail buyer who promises to pay for such goods upon presentation of the bill therefor, may charge and collect a late payment charge not greater than 1 1/2% per month on all money due on all accounts from 30 days after the date on which the obligation of the buyer to pay is incurred.

(2) The late payment charge provided in this section may be charged only if at the time the obligation was incurred the seller did not intend to extend any credit beyond 30 days and any late payment of the obligation was unintended.

(3) The provisions of this section do not apply to money due for intangible services, for services regulated by the public service commission, for real property, for health care services, or for retail installment sales contracts or retail charge account agreements regulated under Title 31, chapter 1, part 2.
Mont. Code Ann. § 31-2-230 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-230
31-2-230 Assent of creditors necessary to modification of assignment
Status: in_force

31-2-230 . Assent of creditors necessary to modification of assignment. An assignment for the benefit of creditors which has been executed and recorded so as to transfer the property to the assignee cannot afterwards be canceled or modified by the parties thereto without the consent of every creditor affected thereby.
Mont. Code Ann. § 31-3-112 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-112
31-3-112 Obsolete information
Status: in_force

31-3-112 . Obsolete information. No consumer reporting agency may make any consumer report containing any of the following items of information:

(1) bankruptcies which, from date of adjudication of the most recent bankruptcy, antedate the report by more than 14 years;

(2) suits and judgments which, from date of entry, antedate the report by more than 7 years or until the governing statute of limitations has expired, whichever is the longer period;

(3) paid tax liens which, from date of payment, antedate the report by more than 7 years;

(4) accounts placed for collection or charged to profit and loss which antedate the report by more than 7 years;

(5) records of arrest, indictment, or conviction of crime which, from date of disposition, release, or parole, antedate the report by more than 7 years;

(6) any other adverse item of information which antedates the report by more than 7 years.
Mont. Code Ann. § 31-1-241 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-241
31-1-241 Finance charge limitation
Status: in_force

31-1-241 . Finance charge limitation. (1) The finance charge included in a retail installment contract must be at a rate agreed upon by the retail seller and the buyer, but the finance charge may not exceed 36% per annum.

(2) The finance charge included in a retail charge account agreement must be at a rate agreed upon by the retail seller and the buyer, but the finance charge may not exceed 36% per annum.

(3) The finance charge must be computed from month to month (which need not be a calendar month) or over another regular billing cycle period by using either:

(a) the average daily balance in the account in the billing cycle period; or

(b) the ending balance of the account as of the last day of the billing cycle period less the amount of total purchases charged to the account during that billing cycle.

(4) A seller may change the terms of a revolving charge account whether or not the change is authorized by prior agreement. The seller shall give the buyer written notice of any change at least 45 days before the effective date of the change.

(5) If the retail seller increases the finance charge on a retail charge account agreement, then the increased rate may only be applied to the balance consisting of purchases on other charges incurred on or after the effective date of the increase.

(6) For purposes of determining the balance to which the increased rate applies, all payments may be considered to be applied to the balance existing prior to the change in rate until that balance is paid in full.

(7) If the finance charge determined pursuant to subsection (3) for a monthly period is less than 50 cents, a maximum finance charge not in excess of 50 cents may be charged and collected for the period.
Mont. Code Ann. § 31-1-307 — MT Code / Title 31 / Chapter 1 / Part 3 / Section 31-1-307
31-1-307 Assignments invalid without notice to employer -- filing assignments
Status: in_force

31-1-307 . Assignments invalid without notice to employer -- filing assignments. No assignment of wages or salary to a wage broker shall be valid or enforceable unless notice in writing of the same, accompanied by a copy of the assignment, shall be given to the employer within 1 day from the date of its execution. All assignments shall be filed in the office of the county clerk of the county where the assignor resides, and no assignment shall be valid unless so filed.
Mont. Code Ann. § 31-1-103 — MT Code / Title 31 / Chapter 1 / Part 1 / Section 31-1-103
31-1-103 Loan presumed to be on interest
Status: in_force

31-1-103 . Loan presumed to be on interest. Whenever a loan of money is made, it is presumed to be made upon interest unless it is otherwise expressly stipulated at the time in writing.
Mont. Code Ann. § 31-2-101 — MT Code / Title 31 / Chapter 2 / Part 1 / Section 31-2-101
31-2-101 Debtor defined
Status: in_force

31-2-101 . Debtor defined. A debtor is one who, by reason of an existing obligation, is or may become liable to pay money to another, whether such liability is certain or contingent.
Mont. Code Ann. § 31-1-108 — MT Code / Title 31 / Chapter 1 / Part 1 / Section 31-1-108
31-1-108 Penalty for usury -- action to recover excessive interest
Status: in_force

31-1-108 . Penalty for usury -- action to recover excessive interest. (1) The taking, receiving, reserving, or charging a rate of interest greater than is allowed by 31-1-107 must be considered a forfeiture of a sum double the amount of interest that the note, bill, or other evidence of debt carries or that has been agreed to be paid on the note, bill, or other evidence of debt.

(2) When a greater rate of interest has been paid, the person by whom it has been paid or the person's heirs, assigns, executors, or administrators may recover from the person, firm, or corporation taking, receiving, reserving, or charging interest a sum double the amount of interest paid, provided that the action must be brought within 2 years after the payment of the interest, and provided that, before any suit may be brought to recover the usurious interest, the party bringing suit makes written demand for return of the interest paid.
Mont. Code Ann. § 31-1-242 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-242
31-1-242 Refunds on prepayment
Status: in_force

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.
Mont. Code Ann. § 31-2-207 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-207
31-2-207 Certain rights not affected by preferences in assignment
Status: in_force

31-2-207 . Certain rights not affected by preferences in assignment. No provision in an assignment giving a preference to a creditor can affect or impair any right of another creditor to priority of payment, whether created by law or arising from an obligation or transaction of the parties.
Mont. Code Ann. § 31-3-151 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-151
31-3-151 Jurisdiction -- venue
Status: in_force

31-3-151 . Jurisdiction -- venue. A consumer may bring suit in any district court in Montana, except that disputes concerning information provided under 40-5-261 are subject to administrative and judicial review as provided in 40-5-261 .
Mont. Code Ann. § 31-4-205 — MT Code / Title 31 / Chapter 4 / Part 2 / Section 31-4-205
31-4-205 Limitations on foreign litigation funding
Status: in_force

31-4-205 . Limitations on foreign litigation funding. (1) A foreign person is prohibited from engaging in the activities set forth in subsection (2) if the foreign person directly or indirectly:

(a) engages in litigation financing;

(b) becomes affiliated with or maintains an affiliation with a litigation financer;

(c) finances, funds, or loans money to a litigation financer; or

(d) invests in, maintains an ownership interest in, or exercises any control over a litigation financer.

(2) A foreign person that engages in the activities set forth in subsection (1) may not:

(a) become affiliated with or maintain an affiliation with a foreign adversary or a foreign person of concern;

(b) receive or accept money or funds from a foreign adversary or a foreign person of concern; or

(c) allow a foreign adversary or a foreign person of concern to invest in, maintain an ownership interest in, or exercise any control over the foreign person.
Mont. Code Ann. § 31-1-107 — MT Code / Title 31 / Chapter 1 / Part 1 / Section 31-1-107
31-1-107 Interest rate allowed by agreement
Status: in_force

31-1-107 . Interest rate allowed by agreement. (1) Parties may agree in writing to the payment of any rate of interest that does not exceed the greater of 15% or an amount that is 6 percentage points per year above the prime rate published by the federal reserve system in its statistical release H.15 Selected Interest Rates for bank prime loans dated 3 business days prior to the execution of the agreement. Interest must be allowed according to the terms of the agreement.

(2) A loan that is not usurious when made is lawful for the duration of the loan, provided the loan agreement is not substantially changed. This subsection does not apply to loan renewals.

(3) The provisions of this section do not apply to regulated lenders as defined in 31-1-111 .
Mont. Code Ann. § 31-1-212 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-212
31-1-212 Investigations and complaints
Status: in_force

31-1-212 . Investigations and complaints. (1) The department may make those investigations it considers necessary, and to the extent necessary for this purpose, it may examine a licensee or any other person and may compel the production of relevant books, records, accounts, and documents.

(2) A retail buyer having reason to believe that this part relating to the buyer's retail installment contract has been violated may file with the department a written complaint setting forth the details of the alleged violation, and the department, upon receipt of the complaint, may inspect the pertinent books, records, letters, and contracts of the licensee and retail seller involved.
Mont. Code Ann. § 31-4-125 — MT Code / Title 31 / Chapter 4 / Part 1 / Section 31-4-125
31-4-125 Regulatory oversight -- rulemaking
Status: in_force

31-4-125 . Regulatory oversight -- rulemaking. The secretary of state is authorized to adopt rules and other policies in overseeing the practice of litigation financing consistent with this part.
Mont. Code Ann. § 31-2-204 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-204
31-2-204 What debts may be secured
Status: in_force

31-2-204 . What debts may be secured. An assignment for the benefit of creditors may provide for any subsisting liability of the assignor that the assignor might lawfully pay, whether absolute or contingent.
Mont. Code Ann. § 31-2-217 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-217
31-2-217 Effect of failing to record
Status: in_force

31-2-217 . Effect of failing to record. An assignment for the benefit of creditors is void against creditors of the assignor and against purchasers and encumbrances in good faith and for value unless it is recorded within 20 days after the date of the assignment.
Mont. Code Ann. § 31-1-301 — MT Code / Title 31 / Chapter 1 / Part 3 / Section 31-1-301
31-1-301 Wage brokers to procure license and give bond
Status: in_force

31-1-301 . Wage brokers to procure license and give bond. No person, company, corporation, or association may establish or conduct the business of wage broker within the state unless such person, company, corporation, or association procures a license from the proper authorities and executes a bond in such sum as the authorities may require for the faithful carrying out of the provisions of this part and of the ordinances of any town or city in which the business may be carried on.
Mont. Code Ann. § 31-4-112 — MT Code / Title 31 / Chapter 4 / Part 1 / Section 31-4-112
31-4-112 Class actions
Status: in_force

31-4-112 . Class actions. This part applies to any civil action filed or certified as a class action in which litigation financing is provided. A litigation financer owes a fiduciary duty to all class members or intended beneficiaries of a certified class and shall act in a manner consistent with the litigation financer's fiduciary duty throughout the civil action. In addition to the disclosure requirements set forth in this part, the legal representative of the putative class shall disclose to all parties, putative class members, and the court any legal, financial, or other relationship between the legal representative and the litigation financer. A class member is entitled to receive from the class counsel a true and correct copy of the litigation financing contract on request.
Mont. Code Ann. § 31-2-215 — MT Code / Title 31 / Chapter 2 / Part 2 / Section 31-2-215
31-2-215 Recording assignment and filing inventory
Status: in_force

31-2-215 . Recording assignment and filing inventory. An assignment for the benefit of creditors must be recorded and the inventory required by 31-2-213 must be filed with the county clerk of the county in which the assignor resided at the date of the assignment or, if the assignor did not reside in this state at that time, with the clerk of the county in which the assignor's principal place of business was situated or, if the assignor did not have a residence or place of business in this state, with the clerk of the county in which the principal part of the assigned property was situated at the time of the assignment.
Mont. Code Ann. § 31-3-102 — MT Code / Title 31 / Chapter 3 / Part 1 / Section 31-3-102
31-3-102 Definitions and rules of construction
Status: in_force

31-3-102 . Definitions and rules of construction. (1) Definitions and rules of construction set forth in this section are applicable for the purposes of this part.

(2) The term "consumer" means an individual.

(3) (a) The term "consumer report" means any written, oral, or other communication of any information by a consumer reporting agency bearing on a consumer's credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living that is used or expected to be used or collected in whole or in part for the purpose of serving as a factor in establishing the consumer's eligibility for:

(i) credit or insurance to be used primarily for personal, family, or household purposes;

(ii) employment purposes; or

(iii) other purposes authorized under 31-3-111 .

(b) The term does not include:

(i) any report containing information solely as to transactions or experiences between the consumer and the person making the report;

(ii) any authorization or approval of a specific extension of credit, directly or indirectly, by the issuer of a credit card or similar device; or

(iii) any report in which a person who has been requested by a third party to make a specific extension of credit, directly or indirectly, to a consumer conveys the consumer's decision with respect to the request if the third party advises the consumer of the name and address of the person to whom the request was made and that person makes the disclosures to the consumer required under 31-3-131 .

(4) The term "consumer reporting agency" means any person that, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of furnishing consumer reports to third parties.

(5) The term "employment purposes", when used in connection with a consumer report, means a report used for the purpose of evaluating a consumer for employment, promotion, reassignment, or retention as an employee.

(6) The term "file", when used in connection with information on any consumer, means all of the information on that consumer recorded and retained by a consumer reporting agency regardless of how the information is stored.

(7) The term "investigative consumer report" means a consumer report or portion of a consumer report in which information on a consumer's character, general reputation, personal characteristics, or mode of living is obtained through personal interviews with neighbors, friends, or associates of the consumer reported on or with others with whom the consumer is acquainted or who may have knowledge concerning any items of information. However, the information may not include specific factual information on a consumer's credit record obtained directly from a creditor of the consumer or from a consumer reporting agency when the information was obtained directly from a creditor of the consumer or from the consumer.

(8) The term "medical information" means information or records obtained, with the consent of the individual to whom it relates, from licensed physicians or medical practitioners, hospitals, clinics, or other medical or medically related facilities.

(9) The term "person" means any individual, partnership, corporation, trust, estate, cooperative, association, government or governmental subdivision or agency, or other entity.
Mont. Code Ann. § 31-1-204 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-204
31-1-204 Waiver
Status: in_force

31-1-204 . Waiver. Any waiver of the provisions of this part shall be unenforceable and void.
Mont. Code Ann. § 31-1-726 — MT Code / Title 31 / Chapter 1 / Part 7 / Section 31-1-726
31-1-726 Investigations by department -- subpoenas -- oaths -- examination of witnesses and evidence
Status: in_force

31-1-726 . Investigations by department -- subpoenas -- oaths -- examination of witnesses and evidence. (1) The department may investigate any matter, upon complaint or otherwise, if it appears that a person has engaged in or offered to engage in any act or practice that is in violation of any provision of this part or any rule adopted or order issued by the department pursuant to this part.

(2) The department may issue subpoenas to compel the attendance of witnesses and the production of documents, papers, books, records, and other evidence before it in any matter over which it has jurisdiction, control, or supervision pertaining to this part. The department may administer oaths and affirmations to a person whose testimony is required.

(3) If a person refuses to obey a subpoena or to give testimony or produce evidence as required by the subpoena, a judge of the district court in the county in which the licensed premises or the person's principal place of business is located or where the person resides may, upon application and proof of the refusal, issue a subpoena or subpoena duces tecum for the witness to appear before the department to give testimony and produce evidence as may be required. The clerk of court shall then issue the subpoena, as directed, under the seal of the court, requiring the person to whom it is directed to appear at the time and place designated in the subpoena.

(4) If a person served with a subpoena refuses to obey the subpoena or to give testimony or produce evidence as required by the subpoena, the department may proceed under the contempt provisions of Title 3, chapter 1, part 5.

(5) Failure to comply with a court-ordered subpoena is punishable pursuant to 45-7-309 .
Mont. Code Ann. § 31-1-235 — MT Code / Title 31 / Chapter 1 / Part 2 / Section 31-1-235
31-1-235 Delinquency fee
Status: in_force

31-1-235 . Delinquency fee. (1) The holder of a retail installment contract or a retail charge account agreement may collect a delinquency charge on each installment in default for a period not less than 10 days in an amount not to exceed $10 or, alternatively, the holder may calculate a fixed delinquency fee that is expressed as an interest rate not exceeding 15% of each installment in default. The delinquency charge expressed in this subsection as a simple interest rate represents a method of calculating a fixed delinquency charge and is not interest.

(2) This section does not preclude a holder of a retail installment contract or retail charge account agreement from collecting, in addition to the delinquency charge, regularly accruing interest at the current contract rate applicable under the terms of the buyer's and seller's contract, provided the contract was made on simple interest and is not a precomputed contract.

(3) A retail installment contract may provide for the payment of both a delinquency charge as permitted in subsection (1) and attorney fees not exceeding 15% of the amount due and payable under the contract when the contract is referred for collection to an attorney not a salaried employee of the holder of the contract and for court costs and actual and reasonable out-of-pocket expenses incurred in connection with the delinquency.