reglab/statecodes huggingface dataset:
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 7. Montana Deferred Deposit Loan Act › 31-1-710. Department authorized to participate in nationwide licensing system for purposes of licensing deferred deposit loan licensees -- rulemaking

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.
History: En. Sec. 7, Ch. 277, L. 2013.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 7. Montana Deferred Deposit Loan Act › 31-1-711. Examinations -- fee

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.
History: En. Sec. 6, Ch. 404, L. 1999; amd. Sec. 6, Ch. 451, L. 2007; amd. Sec. 5, Ch. 81, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 7. Montana Deferred Deposit Loan Act › 31-1-713. Department obligations -- complaints

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.
History: En. Sec. 8, Ch. 404, L. 1999; amd. Sec. 8, Ch. 451, L. 2007; amd. Sec. 5, Ch. 277, L. 2013; amd. Sec. 2, Ch. 23, L. 2015.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 7. Montana Deferred Deposit Loan Act › 31-1-715. Loan requirements -- right of rescission -- arbitration -- completion of transaction

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.
History: En. Sec. 10, Ch. 404, L. 1999; amd. Sec. 6, Ch. 81, L. 2001; amd. Sec. 1, Ch. 210, L. 2005; amd. Sec. 10, Ch. 451, L. 2007.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 7. Montana Deferred Deposit Loan Act › 31-1-721. Required disclosures -- loan agreement

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.
History: En. Sec. 11, Ch. 404, L. 1999; amd. Sec. 3, Ch. 221, L. 2003; amd. Sec. 11, Ch. 451, L. 2007.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 7. Montana Deferred Deposit Loan Act › 31-1-722. Prohibited and permitted fees -- attorney fees and costs

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.
History: En. Sec. 12, Ch. 404, L. 1999; amd. Sec. 7, Ch. 81, L. 2001; amd. Sec. 4, Ch. 221, L. 2003; amd. Sec. 6, Ch. 81, L. 2009; amd. Sec. 6, I.M. No. 164, approved Nov. 2, 2010.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 7. Montana Deferred Deposit Loan Act › 31-1-724. Civil remedies

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.
History: En. Sec. 14, Ch. 404, L. 1999; amd. Sec. 5, Ch. 221, L. 2003.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 7. Montana Deferred Deposit Loan Act › 31-1-725. Repealed

31-1-725. Repealed.
Sec. 9, Ch. 23, L. 2015.
History: En. Sec. 15, Ch. 404, L. 1999.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 7. Montana Deferred Deposit Loan Act › 31-1-726. Investigations by department -- subpoenas -- oaths -- examination of witnesses and evidence

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.
History: En. Sec. 13, Ch. 451, L. 2007; amd. Sec. 12, Ch. 535, L. 2021.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 7. Montana Deferred Deposit Loan Act › 31-1-727. Cease and desist orders

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.
History: En. Sec. 14, Ch. 451, L. 2007; amd. Sec. 3, Ch. 23, L. 2015.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 7. Montana Deferred Deposit Loan Act › 31-1-728. Injunctions -- receivers

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.
History: En. Sec. 15, Ch. 451, L. 2007.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 7. Montana Deferred Deposit Loan Act › 31-1-729. Violation of specified federal laws -- rulemaking authority

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.
History: En. Sec. 2, Ch. 81, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-801. Repealed

31-1-801. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 1, Ch. 455, L. 2001.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-802. Repealed

31-1-802. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 2, Ch. 455, L. 2001; amd. Sec. 1, Ch. 178, L. 2003; amd. Sec. 9, Ch. 163, L. 2005; amd. Sec. 2, Ch. 497, L. 2007.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-803. Repealed

31-1-803. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 3, Ch. 455, L. 2001; amd. Sec. 221(1), Ch. 483, L. 2001; amd. Sec. 2, Ch. 178, L. 2003; amd. Sec. 3, Ch. 497, L. 2007.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-804. Repealed

31-1-804. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 4, Ch. 455, L. 2001.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-805. Repealed

31-1-805. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 5, Ch. 455, L. 2001; amd. Sec. 1, Ch. 120, L. 2005; amd. Sec. 3, Ch. 134, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-810. Repealed

31-1-810. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 6, Ch. 455, L. 2001; amd. Sec. 4, Ch. 134, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-811. Repealed

31-1-811. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 7, Ch. 455, L. 2001; amd. Sec. 3, Ch. 178, L. 2003; amd. Sec. 4, Ch. 497, L. 2007.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-812. Repealed

31-1-812. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 8, Ch. 455, L. 2001.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-813. Repealed

31-1-813. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 5, Ch. 497, L. 2007.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-815. Repealed

31-1-815. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 9, Ch. 455, L. 2001.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-816. Repealed

31-1-816. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 10, Ch. 455, L. 2001; amd. Sec. 39, Ch. 477, L. 2003; amd. Sec. 3, Ch. 210, L. 2005; amd. Sec. 8, Ch. 497, L. 2007.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-817. Repealed

31-1-817. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 11, Ch. 455, L. 2001; amd. Sec. 4, Ch. 178, L. 2003; amd. Sec. 9, Ch. 497, L. 2007; amd. Sec. 7, I.M. No. 164, approved Nov. 2, 2010.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-818. Repealed

31-1-818. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 12, Ch. 455, L. 2001.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-819. Repealed

31-1-819. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 13, Ch. 455, L. 2001.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-820. Repealed

31-1-820. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 14, Ch. 455, L. 2001.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-821. Repealed

31-1-821. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 15, Ch. 455, L. 2001.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-822. Repealed

31-1-822. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 16, Ch. 455, L. 2001.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-825. Repealed

31-1-825. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 17, Ch. 455, L. 2001; amd. Sec. 5, Ch. 178, L. 2003; amd. Sec. 10, Ch. 497, L. 2007.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-826. Repealed

31-1-826. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 18, Ch. 455, L. 2001; amd. Sec. 6, Ch. 178, L. 2003.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-827. Repealed

31-1-827. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 19, Ch. 455, L. 2001.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-828. Repealed

31-1-828. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 1, Ch. 134, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-829. Repealed

31-1-829. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 2, Ch. 134, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-841. Repealed

31-1-841. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 6, Ch. 497, L. 2007.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 1. Credit Transactions › Part 8. Title Loan Act (Repealed) › 31-1-842. Repealed

31-1-842. Repealed.
Sec. 7, Ch. 278, L. 2013.
History: En. Sec. 7, Ch. 497, L. 2007.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 1. General Provisions -- Definitions › 31-2-101. Debtor defined

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.
History: En. Sec. 4480, Civ. C. 1895; re-en. Sec. 6122, Rev. C. 1907; re-en. Sec. 8598, R.C.M. 1921; Cal. Civ. C. Sec. 3429; Field Civ. C. Sec. 1913; re-en. Sec. 8598, R.C.M. 1935; R.C.M. 1947, 18-101.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 1. General Provisions -- Definitions › 31-2-102. Creditor defined

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.
History: En. Sec. 4481, Civ. C. 1895; re-en. Sec. 6123, Rev. C. 1907; re-en. Sec. 8599, R.C.M. 1921; Cal. Civ. C. Sec. 3430; Field Civ. C. Sec. 1914; re-en. Sec. 8599, R.C.M. 1935; R.C.M. 1947, 18-102; amd. Sec. 981, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 1. General Provisions -- Definitions › 31-2-103. Contracts of debtor are valid

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.
History: En. Sec. 4482, Civ. C. 1895; re-en. Sec. 6124, Rev. C. 1907; re-en. Sec. 8600, R.C.M. 1921; Cal. Civ. C. Sec. 3431; Field Civ. C. Sec. 1915; re-en. Sec. 8600, R.C.M. 1935; R.C.M. 1947, 18-103; amd. Sec. 982, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 1. General Provisions -- Definitions › 31-2-104. Payments in preference

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.
History: En. Sec. 4483, Civ. C. 1895; re-en. Sec. 6125, Rev. C. 1907; re-en. Sec. 8601, R.C.M. 1921; Cal. Civ. C. Sec. 3432; Field Civ. C. Sec. 1916; re-en. Sec. 8601, R.C.M. 1935; R.C.M. 1947, 18-104; amd. Sec. 983, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 1. General Provisions -- Definitions › 31-2-105. Relative rights of different creditors

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.
History: En. Sec. 4484, Civ. C. 1895; re-en. Sec. 6126, Rev. C. 1907; re-en. Sec. 8602, R.C.M. 1921; Cal. Civ. C. Sec. 3433; Field Civ. C. Sec. 1917; re-en. Sec. 8602, R.C.M. 1935; R.C.M. 1947, 18-105; amd. Sec. 984, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 1. General Provisions -- Definitions › 31-2-106. Exempt property -- bankruptcy proceeding

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.
History: En. Sec. 1, Ch. 161, L. 1981; amd. Sec. 1, Ch. 208, L. 1987; amd. Sec. 1, Ch. 45, L. 1989; amd. Sec. 1, Ch. 301, L. 1989; amd. Sec. 39, Ch. 586, L. 1991; amd. Sec. 59, Ch. 238, L. 1993; amd. Sec. 234, Ch. 265, L. 1993; amd. Sec. 71, Ch. 114, L. 2003; amd. Sec. 52, Ch. 2, L. 2009; amd. Sec. 4, Ch. 298, L. 2017.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-201. When debtor may execute assignment

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.
History: En. Sec. 4510, Civ. C. 1895; re-en. Sec. 6136, Rev. C. 1907; re-en. Sec. 8612, R.C.M. 1921; Cal. Civ. C. Sec. 3449; Field Civ. C. Sec. 1924; re-en. Sec. 8612, R.C.M. 1935; R.C.M. 1947, 18-301; amd. Sec. 985, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-202. Insolvency -- what constitutes

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.
History: En. Sec. 4511, Civ. C. 1895; re-en. Sec. 6137, Rev. C. 1907; re-en. Sec. 8613, R.C.M. 1921; Cal. Civ. C. Sec. 3450; Field Civ. C. Sec. 1925; re-en. Sec. 8613, R.C.M. 1935; R.C.M. 1947, 18-302; amd. Sec. 986, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-203. Certain transfers not affected

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.
History: En. Sec. 4512, Civ. C. 1895; re-en. Sec. 6138, Rev. C. 1907; re-en. Sec. 8614, R.C.M. 1921; Cal. Civ. C. Sec. 3451; Field Civ. C. Sec. 1926; re-en. Sec. 8614, R.C.M. 1935; R.C.M. 1947, 18-303; amd. Sec. 987, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-204. What debts may be secured

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.
History: En. Sec. 4513, Civ. C. 1895; re-en. Sec. 6139, Rev. C. 1907; re-en. Sec. 8615, R.C.M. 1921; Cal. Civ. C. Sec. 3452; Field Civ. C. Sec. 1927; re-en. Sec. 8615, R.C.M. 1935; R.C.M. 1947, 18-304; amd. Sec. 988, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-205. Preference given for wages

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.
History: En. Sec. 2050, 5th Div. Comp. Stat. 1887; re-en. Sec. 4514, Civ. C. 1895; re-en. Sec. 6140, Rev. C. 1907; re-en. Sec. 8616, R.C.M. 1921; re-en. Sec. 8616, R.C.M. 1935; amd. Sec. 6, Ch. 109, L. 1943; R.C.M 1947, 18-305; amd. Sec. 989, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-206. Preference to be absolute

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.
History: En. Sec. 4515, Civ. C. 1895; re-en. Sec. 6141, Rev. C. 1907; re-en. Sec. 8617, R.C.M. 1921; Field Civ. C. Sec. 1929; re-en. Sec. 8617, R.C.M. 1935; R.C.M. 1947, 18-306.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-207. Certain rights not affected by preferences in assignment

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.
History: En. Sec. 4516, Civ. C. 1895; re-en. Sec. 6142, Rev. C. 1907; re-en. Sec. 8618, R.C.M. 1921; Field Civ. C. Sec. 1930; re-en. Sec. 8618, R.C.M. 1935; R.C.M. 1947, 18-307.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-208. Joint and separate debts

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.
History: En. Sec. 4517, Civ. C. 1895; re-en. Sec. 6143, Rev. C. 1907; re-en. Sec. 8619, R.C.M. 1921; Field Civ. C. Sec. 1931; re-en. Sec. 8619, R.C.M. 1935; R.C.M. 1947, 18-308.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-209. Assignment -- when void

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.
History: En. Sec. 4518, Civ. C. 1895; re-en. Sec. 6144, Rev. C. 1907; re-en. Sec. 8620, R.C.M. 1921; Cal. Civ. C. Sec. 3457; Based on Field Civ. C. Sec. 1932; re-en. Sec. 8620, R.C.M. 1935; R.C.M. 1947, 18-309; amd. Sec. 217, Ch. 685, L. 1989; amd. Sec. 990, Ch. 56, L. 2009; amd. Sec. 142, Ch. 264, L. 2013.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-210. The instrument of assignment

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.
History: En. Sec. 4519, Civ. C. 1895; re-en. Sec. 6145, Rev. C. 1907; re-en. Sec. 8621, R.C.M. 1921; Cal. Civ. C. Sec. 3458; Based on Field Civ. C. Sec. 1933; re-en. Sec. 8621, R.C.M. 1935; R.C.M. 1947, 18-310; amd. Sec. 991, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-211. Compliance necessary to validity of assignment

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.
History: En. Sec. 4520, Civ. C. 1895; re-en. Sec. 6146, Rev. C. 1907; re-en. Sec. 8622, R.C.M. 1921; Cal. Civ. C. Sec. 3459; Field Civ. C. Sec. 1934; re-en. Sec. 8622, R.C.M. 1935; R.C.M. 1947, 18-311.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-212. Assignee takes subject to rights of third parties

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.
History: En. Sec. 4521, Civ. C. 1895; re-en. Sec. 6147, Rev. C. 1907; re-en. Sec. 8623, R.C.M. 1921; Cal. Civ. C. Sec. 3460; Field Civ. C. Sec. 1935; re-en. Sec. 8623, R.C.M. 1935; R.C.M. 1947, 18-312; amd. Sec. 992, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-213. Inventory required

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.
History: En. Sec. 4522, Civ. C. 1895; re-en. Sec. 6148, Rev. C. 1907; re-en. Sec. 8624, R.C.M. 1921; Cal. Civ. C. Sec. 3461; Field Civ. C. Sec. 1936; re-en. Sec. 8624, R.C.M. 1935; R.C.M. 1947, 18-313.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-214. Verification of inventory -- when assignee required to file -- inspection of assignor's books and papers

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.
History: En. Sec. 4523, Civ. C. 1895; re-en. Sec. 6149, Rev. C. 1907; re-en. Sec. 8625, R.C.M. 1921; Cal. Civ. C. Sec. 3462; re-en. Sec. 8625, R.C.M. 1935; R.C.M. 1947, 18-314; amd. Sec. 993, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-215. Recording assignment and filing inventory

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.
History: En. Sec. 4524, Civ. C. 1895; re-en. Sec. 6150, Rev. C. 1907; re-en. Sec. 8626, R.C.M. 1921; Cal. Civ. C. Sec. 3463; Based on Field Civ. C. Sec. 1938; re-en. Sec. 8626, R.C.M. 1935; R.C.M. 1947, 18-315; amd. Sec. 994, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-216. Recording and filing when more than one assignor

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.
History: En. Sec. 4525, Civ. C. 1895; re-en. Sec. 6151, Rev. C. 1907; re-en. Sec. 8627, R.C.M. 1921; Cal. Civ. C. Sec. 3464; Based on Field Civ. C. Sec. 1939; re-en. Sec. 8627, R.C.M. 1935; R.C.M. 1947, 18-316.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-217. Effect of failing to record

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.
History: En. Sec. 4526, Civ. C. 1895; re-en. Sec. 6152, Rev. C. 1907; re-en. Sec. 8628, R.C.M. 1921; Cal. Civ. C. Sec. 3465; Based on Field Civ. C. Sec. 1940; re-en. Sec. 8628, R.C.M. 1935; R.C.M. 1947, 18-317.