32-11-305. Records kept by others. (1) If a person other than a licensee makes or keeps all or part of the books, accounts, or other records of the licensee, this chapter applies to the person with respect to the books, accounts, and other records to the same extent as if the person were the licensee.
(2) If a person other than an affiliate or subsidiary of a licensee makes or keeps all or part of the books, accounts, or other records of the affiliate or subsidiary, this chapter applies to the person with respect to the books, accounts, and other records to the same extent as if the person were the affiliate or subsidiary.
(3) If the department considers it expedient, the department may require a licensee to obtain the approval of the department before permitting another person to make or keep all or part of the books, accounts, or other records of the licensee.
History: En. Sec. 33, Ch. 411, L. 2007.
Structure Montana Code Annotated
Title 32. Financial Institutions
Chapter 11. Business and Industrial Development Corporations
Part 3. Acquisition and Merger
32-11-301. Disclosure of potential conflict of interest -- terms and conditions -- examples
32-11-302. Acquiring control of licensee -- application -- determination
32-11-303. Merger -- purchase -- sale
32-11-304. Records and report requirements
32-11-305. Records kept by others
32-11-306. Information on economic development effect
32-11-307. Examination of licensees and subsidiaries
32-11-308. Inspection or copying refusal
32-11-309. Restrictions on financing assistance
32-11-310. Contemporaneous financing assistance