32-11-309. Restrictions on financing assistance. (1) A licensee may not directly or indirectly provide financing assistance to an associate of the licensee.
(2) A licensee may not directly or indirectly provide financing assistance to discharge or to free money for use in discharging part or all of an obligation to an associate of the licensee. This subsection does not apply to a transaction of an associate of a licensee in the normal course of the associate's business involving a line of credit or financing assistance with a term of not more than 5 years.
History: En. Sec. 37, 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