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.
History: En. Sec. 4, Ch. 282, L. 1959; amd. Sec. 138, Ch. 431, L. 1975; amd. Sec. 14, Ch. 185, L. 1977; R.C.M. 1947, 74-604; amd. Sec. 971, Ch. 56, L. 2009; amd. Sec. 5, Ch. 63, L. 2013.
Structure Montana Code Annotated
Title 31. Credit Transactions and Relationships
Chapter 1. Credit Transactions
Part 2. Retail Installment Sales
31-1-202. Definitions -- scope
31-1-203. Notice and opportunity for hearing -- service -- penalties -- exception
31-1-205. through 31-1-210 reserved
31-1-211. Powers of department
31-1-212. Investigations and complaints
31-1-213. through 31-1-220 reserved
31-1-221. Licensing of sales finance companies required
31-1-224. through 31-1-230 reserved
31-1-231. Requirements of retail installment contracts
31-1-232. Buyer's right of rescission
31-1-234. Transfer of equity -- fee
31-1-236. Notice and receipt of payment
31-1-237. through 31-1-240 reserved
31-1-241. Finance charge limitation