reglab/housing_qa huggingface dataset:
MT Code § 32-9-118 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-118. Continuing education requirements for mortgage loan originators

  32-9-118. Continuing education requirements for mortgage loan originators. (1) All mortgage loan originators shall complete and submit to the NMLS evidence of at least 8 hours of continuing education every year at the time they submit their license renewal applications. The 8 hours of continuing education must be obtained in approved education courses.   (2) The 8 hours of education must include at least:   (a) 3 hours of training on federal laws and regulations;   (b) 2 hours of training in ethics, including instruction on fraud prevention, consumer protection, and fair lending issues; and   (c) 2 hours of training related to lending standards for the nontraditional mortgage product marketplace.   (3) A person who has successfully completed the education requirements that comply with the requirements of subsections (1) and (2) and that are approved by the NMLS for any other state must be given credit toward completion of continuing education requirements in Montana.   (4) Except as provided in subsection (6), a licensed mortgage loan originator may receive credit for a continuing education course only in the year in which the course is taken and may not take the same approved course in the same or successive years to meet the annual requirements for continuing education.   (5) A licensed mortgage loan originator who is an approved instructor of an approved continuing education course may receive credit for the licensed mortgage loan originator's own annual continuing education requirement at the rate of 2 hours credit for every 1 hour taught.   (6) A licensed mortgage loan originator who subsequently becomes unlicensed shall complete the continuing education requirements for the last year in which the license was held prior to issuance of a new or renewed license. The continuing education requirements of this subsection are not subject to the provision of subsection (4) that credit may be given only in the year a course is taken. (See part compiler's comment regarding contingent suspension.)   History: En. Sec. 12, Ch. 516, L. 2003; amd. Sec. 18, Ch. 321, L. 2009; amd. Sec. 16, Ch. 317, L. 2011; amd. Sec. 14, Ch. 125, L. 2013.
MT Code § 32-9-119 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-119. Repealed

  32-9-119. Repealed. Sec. 34, Ch. 321, L. 2009.   History: En. Sec. 10, Ch. 498, L. 2007.
MT Code § 32-9-121 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-121. Records maintenance

  32-9-121. Records maintenance. (1) Licensees shall maintain books, accounts, records, and copies of residential mortgage loan files and escrow account records that are necessary to enable the department to determine whether a licensee is in compliance with the applicable laws and rules. The materials must be maintained in accordance with generally accepted accounting principles and good business practices. Whenever a licensee's usual business location is outside of this state the licensee shall, at its election, either maintain its books and records at a location in this state or reimburse the department for expenses incurred, including but not limited to staff time, transportation, food, and lodging expenses, relating to an examination or investigation under this part.   (2) A mortgage broker, mortgage lender, or mortgage servicer shall maintain a residential mortgage file for a minimum of 5 years from the date of the last activity pertaining to the file. A mortgage broker, mortgage lender, or mortgage servicer shall maintain trust account or escrow account records for a minimum of 5 years.   (3) An entity that ceases operation as a licensee under the provisions of this part shall:   (a) 30 days prior to the discontinuance of business, notify the department of the physical location where required records will be preserved; and   (b) designate a custodian of records and notify the department of the name, physical address, electronic mail address, and telephone number of the custodian of records. The custodian of records shall preserve records required under this part and allow the department access for examination and investigation purposes upon request of the department.   (4) The department shall adopt rules to control the maintenance, storage, transfer, and destruction of records after a licensee ceases operation. (See part compiler's comment regarding contingent suspension.)   History: En. Sec. 13, Ch. 516, L. 2003; amd. Sec. 3, Ch. 136, L. 2005; amd. Sec. 7, Ch. 498, L. 2007; amd. Sec. 19, Ch. 321, L. 2009; amd. Sec. 18, Ch. 317, L. 2011; amd. Sec. 16, Ch. 125, L. 2013.
MT Code § 32-9-122 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-122. Designated manager and branch office license requirements

  32-9-122. Designated manager and branch office license requirements. (1) A mortgage broker, mortgage lender, or mortgage servicer shall apply for a license for a main office and for every branch office through the NMLS and maintain a unique identifier. All locations must be within the United States or a territory, including Puerto Rico and the U.S. Virgin Islands.   (2) A mortgage broker or mortgage lender shall designate to the NMLS for each office that originates a residential mortgage loan an individual who is licensed as a mortgage loan originator as the designated manager of the main office and each branch office that originates a residential mortgage loan. A designated manager may be responsible for more than one location. The designated manager is responsible for the mortgage origination activity conducted at each office to which the designated manager is assigned in the NMLS.   (3) A designated manager must have 3 years of experience as either a mortgage loan originator or a registered mortgage loan originator.   (4) A designated manager is responsible for the operation of the business at each location under the designated manager's full charge, supervision, and control.   (5) A mortgage broker or mortgage lender is responsible for the conduct of its employees, including for violations of federal or state laws, rules, or regulations.   (6) A designated manager is responsible for conduct that violates federal or state laws, rules, or regulations by the designated manager and each employee of the mortgage broker or mortgage lender at each location that the designated manager manages.   (7) If the designated manager ceases to act in that capacity, within 15 days the mortgage broker or mortgage lender shall designate another individual licensed as a mortgage loan originator as designated manager and shall submit information to the NMLS establishing that the subsequent designated manager is in compliance with the provisions of this part.   (8) If the employment of a designated manager is terminated, the mortgage broker or mortgage lender shall remove the sponsorship of the designated manager on the NMLS within 5 business days of the termination.   (9) A mortgage servicer is responsible for the acts and omissions of its employees, agents, and independent contractors acting in the course and scope of their employment, agency, or contract. (See part compiler's comment regarding contingent suspension.)   History: En. Sec. 14, Ch. 516, L. 2003; amd. Sec. 2, Ch. 368, L. 2005; amd. Sec. 8, Ch. 498, L. 2007; amd. Sec. 20, Ch. 321, L. 2009; amd. Sec. 19, Ch. 317, L. 2011; amd. Sec. 17, Ch. 125, L. 2013; amd. Sec. 9, Ch. 24, L. 2015; amd. Sec. 5, Ch. 65, L. 2019.
MT Code § 32-9-125 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-125. Repealed

  32-9-125. Repealed. Sec. 33, Ch. 125, L. 2013.   History: En. Sec. 17, Ch. 516, L. 2003; amd. Sec. 12, Ch. 498, L. 2007; amd. Sec. 26, Ch. 321, L. 2009; amd. Sec. 26, Ch. 317, L. 2011.
MT Code § 32-9-126 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-126. Revocation, suspension, conditioning, and reinstatement of licenses

  32-9-126. Revocation, suspension, conditioning, and reinstatement of licenses. (1) The department, upon giving a mortgage broker, mortgage lender, mortgage servicer, or mortgage loan originator licensee 14 days' written notice, which includes a statement of the grounds for the proposed suspension, conditioning, or revocation, and informing the licensee that the licensee has the right to be heard at an administrative hearing if requested by the licensee, may suspend, condition, or revoke a license if it finds that the licensee has violated any provision of this part or any rule adopted under this part.   (2) The license of a licensee that refuses to make documents and records relating to the operation of the licensee available upon request by the department must be summarily suspended.   (3) 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.   (4) The department may reinstate any suspended license if the suspended licensee has complied with all the reinstatement conditions set forth at the time the license was suspended and if the licensee is otherwise qualified to have the license reinstated.   (5) The department may by order vacate a revocation of a license and enter an appropriate order.   (6) The department may refuse to accept a licensee's offer to surrender a license under the following circumstances:   (a) a final order has been issued in an enforcement action and the licensee has not fully complied with the order regardless of whether compliance is yet due;   (b) the licensee has violated or is under investigation for a suspected violation of this part or any rule adopted under this part;   (c) there is an enforcement action or complaint pending against the licensee; or   (d) the licensee has not made arrangements satisfactory to the department regarding loans in process at the time of the offer of surrender.   (7) A revocation, suspension, or surrender of a license does not impair or affect the obligation of a preexisting lawful contract between the licensee and any person, including a borrower.   (8) In the event of a revoked, suspended, or surrendered mortgage broker, mortgage lender, mortgage servicer, or mortgage loan originator license, fees may not be refunded by the department. (See part compiler's comment regarding contingent suspension.)   History: En. Sec. 18, Ch. 516, L. 2003; amd. Sec. 15, Ch. 498, L. 2007; amd. Sec. 27, Ch. 321, L. 2009; amd. Sec. 27, Ch. 317, L. 2011; amd. Sec. 21, Ch. 125, L. 2013.
MT Code § 32-9-127 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-127. Repealed

  32-9-127. Repealed. Sec. 38, Ch. 317, L. 2011.   History: En. Sec. 16, Ch. 321, L. 2009.
MT Code § 32-9-128 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-128. Registration and registered agent of foreign entities -- service of process -- venue

  32-9-128. Registration and registered agent of foreign entities -- service of process -- venue. (1) A foreign mortgage broker, mortgage lender, or mortgage servicer shall register to do business in this state as a foreign corporation, limited liability company, limited liability partnership, or limited partnership with the secretary of state.   (2) A foreign mortgage broker, mortgage lender, or mortgage servicer shall provide the name and address of its registered agent for service of process to the department in order to be licensed in this state and shall notify the department in writing within 5 days of a change in the licensee's registered agent's name or address.   (3) For purposes of this part, the department is considered to have complied with the requirements of law concerning service of process upon sending by common courier with tracking capability any notice required or permitted to a licensee under this part, postage prepaid and addressed to the last-known address of the licensee's registered agent for service of process on file with the department, the last-known address of the licensee on file with the department for an in-state licensee, or in the case of an unlicensed person, the last-known address of the person.   (4) In a judicial action, suit, or proceeding arising under this part or any administrative rule adopted pursuant to this part between the department and a licensee who does not maintain a physical office in this state, venue must be exclusively in Lewis and Clark County. (See part compiler's comment regarding contingent suspension.)   History: En. Sec. 21, Ch. 321, L. 2009; amd. Sec. 28, Ch. 317, L. 2011; amd. Sec. 7, Ch. 65, L. 2019.
MT Code § 32-9-129 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-129. Loan processors and underwriters

  32-9-129. Loan processors and underwriters. A person engaging in loan processor or underwriter activities may not represent to the public, through advertising or other means of communication, that the person can or will perform any of the activities of a mortgage loan originator. (See part compiler's comment regarding contingent suspension.)   History: En. Sec. 5, Ch. 321, L. 2009; amd. Sec. 29, Ch. 317, L. 2011; amd. Sec. 22, Ch. 125, L. 2013; amd. Sec. 11, Ch. 24, L. 2015.
MT Code § 32-9-131 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-131. Repealed

  32-9-131. Repealed. Sec. 18, Ch. 498, L. 2007.   History: En. Sec. 20, Ch. 516, L. 2003.
MT Code § 32-9-132 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-132. Injunctions -- receivers

  32-9-132. Injunctions -- receivers. (1) Whenever the department has reasonable cause to believe that any person is violating or is threatening to violate this part or a rule adopted under this part, the department may, in addition to all actions provided for in this part and without prejudice to those actions, seek an order requiring the person to desist or to refrain from the violation.   (2) An action may be brought by the department in the district court of the first judicial district, Lewis and Clark County, to enjoin the person from engaging in or continuing the violation or from doing any act or acts in furtherance of the violation. In any action, a preliminary or final injunction may be ordered as considered proper.   (3) 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.   History: En. Sec. 21, Ch. 516, L. 2003.
MT Code § 32-9-133 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-133. Penalties -- restitution

  32-9-133. Penalties -- restitution. (1) If the department finds, after providing a 14-day written notice that includes a statement of alleged violations and a hearing or an opportunity for hearing, as provided in the Montana Administrative Procedure Act, that any person, licensee, service provider, or officer, agent, employee, or representative of the person or licensee, whether licensed or unlicensed, has violated any of the provisions of this part, has failed to comply with the rules, instructions, or orders promulgated by the department, has failed or refused to make required reports to the department, has furnished false information to the department, or has operated without a required license, the department may impose a civil penalty not to exceed $5,000 for the first violation and not to exceed $10,000 for each subsequent violation.   (2) The department may issue an order:   (a) requiring restitution;   (b) requiring reimbursement of the department's cost in bringing the administrative action; and   (c) revoking, conditioning, or suspending the right of the person or licensee, directly or through a service provider, officer, agent, employee, or representative, to do business in this state as a licensee or to engage in the mortgage broker, mortgage lender, mortgage servicer, or mortgage loan origination business.   (3) Any person who directly or indirectly controls an entity liable under subsection (1), any partner, officer, director, or person occupying a similar status or performing similar functions of the entity, and any person who participates or materially aids in the violation is liable jointly and severally with and to the same extent as the person committing the violation. In addition, each person committing the violation or aiding in the violation is jointly and severally liable if the person committing the violation or aiding in the violation knew or in the exercise of reasonable care should have known of the existence of the facts by reason of which the liability is alleged to exist. There must be contribution between or among the severally liable persons.   (4) The fines must be deposited in the department's account in the state special revenue fund and used to administer the provisions of this part. (See part compiler's comment regarding contingent suspension.)   History: En. Sec. 22, Ch. 516, L. 2003; amd. Sec. 17, Ch. 498, L. 2007; amd. Sec. 32, Ch. 321, L. 2009; amd. Sec. 31, Ch. 317, L. 2011; amd. Sec. 24, Ch. 125, L. 2013; amd. Sec. 9, Ch. 65, L. 2019.
MT Code § 32-9-134 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-134. License renewal -- rulemaking

  32-9-134. License renewal -- rulemaking. (1) All persons licensed under this part are required to renew their licenses by December 31 of each year.   (2) A renewal application for a mortgage broker, mortgage lender, mortgage servicer, or mortgage loan originator must demonstrate that:   (a) the licensee continues to meet the standards for licensure under this part;   (b) a mortgage loan originator has satisfied annual continuing education requirements pursuant to 32-9-118; and   (c) the licensee has paid all required fees for renewal of the license, all outstanding examination fees and investigation fees, and any civil penalties.   (3) Any license not renewed by December 31 expires on December 31. The department may adopt rules regarding requirements for renewal applications and the procedures for the reinstatement of expired licenses consistent with the standards established by the NMLS.   History: En. Sec. 12, Ch. 125, L. 2013.
MT Code § 32-9-135 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-135. Independent contractor entity -- responsible individual -- loan processor or underwriter

  32-9-135. Independent contractor entity -- responsible individual -- loan processor or underwriter. (1) An independent contractor entity may not offer or engage in clerical or support duties with respect to any dwelling or residential real estate in this state unless the independent contractor entity obtains and maintains a valid mortgage broker license through the NMLS.   (2) An independent contractor entity shall apply for a mortgage broker license through the NMLS for its main office and for every branch office where clerical or support duties are conducted.   (3) An independent contractor entity shall designate a responsible individual for each main office and each branch office. The responsible individual must be an employee of the independent contractor entity.   (4) The responsible individual is responsible for the operation of the business at the responsible individual's place of employment under the responsible individual's full charge, supervision, and control.   (5) An independent contractor entity is responsible for the conduct and omissions of its employees, agents, and independent contractors, including for violations of federal or state laws, rules, or regulations.   (6) A responsible individual is responsible for conduct that violates federal or state laws, rules, or regulations. The responsible individual's responsibility includes conduct by the responsible individual and each employee and agent of the independent contractor entity at the location that the responsible individual manages.   (7) If the responsible individual ceases to act in that capacity, the independent contractor entity shall within 15 days designate as responsible individual another individual who is a licensed or registered mortgage loan originator and shall submit information to the NMLS establishing that the subsequent responsible individual is in compliance with the provisions of this part.   (8) If the employment of a responsible individual is terminated, the independent contractor entity shall remove the sponsorship of the responsible individual on the NMLS within 5 business days of the termination.   (9) An individual who is employed by an independent contractor entity and who performs only clerical or support duties and does so at the direction of and subject to the supervision and instruction of a responsible individual is not required to be licensed under this part.   History: En. Sec. 12, Ch. 24, L. 2015.
MT Code § 32-9-136 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-136. through 32-9-140 reserved

  32-9-136 through 32-9-140 reserved.