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.
History: En. Sec. 2, Ch. 404, L. 1999; amd. Sec. 2, Ch. 451, L. 2007.
Structure Montana Code Annotated
Title 31. Credit Transactions and Relationships
Chapter 1. Credit Transactions
Part 7. Montana Deferred Deposit Loan Act
31-1-702. Purpose -- rules -- fees
31-1-705. License -- application requirements -- business locations
31-1-707. Denial of license and license renewal
31-1-708. and 31-1-709 reserved
31-1-712. Notice of violation -- administrative hearing -- penalties -- liability
31-1-713. Department obligations -- complaints
31-1-714. Information and annual reports
31-1-715. Loan requirements -- right of rescission -- arbitration -- completion of transaction
31-1-716. through 31-1-720 reserved
31-1-721. Required disclosures -- loan agreement
31-1-722. Prohibited and permitted fees -- attorney fees and costs
31-1-727. Cease and desist orders
31-1-728. Injunctions -- receivers
31-1-729. Violation of specified federal laws -- rulemaking authority