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.
History: (1)En. Sec. 2, Ch. 275, L. 1981; (2)En. Sec. 4, Ch. 276, L. 1981; amd. Sec. 1, Ch. 9, L. 1983; amd. Sec. 1, Ch. 22, L. 1983; amd. Sec. 2, I.M. No. 164, approved Nov. 2, 2010; amd. Sec. 3, Ch. 278, L. 2013.
Structure Montana Code Annotated
Title 31. Credit Transactions and Relationships
Chapter 1. Credit Transactions
Part 1. Loans of Money -- Interest Rates
31-1-101. Loan of money -- what constitutes
31-1-102. Loan to be repaid in current money
31-1-103. Loan presumed to be on interest
31-1-107. Interest rate allowed by agreement
31-1-108. Penalty for usury -- action to recover excessive interest
31-1-109. When interest becomes part of principal
31-1-111. Definition of regulated lender
31-1-112. Interest rate limitation exemption -- regulated lenders -- merchant finance
31-1-113. Limitation of rule of 78ths
31-1-115. Issuing credit cards to minors -- collection of debt
31-1-116. Commercial loans -- when written agreement required