32-5-311. Precomputed interest prohibited. All consumer loans made or refinanced under this chapter must be made on simple interest, and the interest on consumer loans made or refinanced under this chapter may not be precomputed.
History: En. Sec. 14, Ch. 173, L. 2013.
Structure Montana Code Annotated
Title 32. Financial Institutions
Chapter 5. Consumer Loan Businesses
Part 3. Operation of Business -- Restrictions and Requirements
32-5-301. Fees charged to consumers
32-5-302. Installment and balloon payments
32-5-303. Borrower to receive copy of contract or statement of contents
32-5-304. Receipts -- return of note
32-5-305. Confessions of judgment -- incomplete instruments forbidden
32-5-306. Insurance -- real property security -- definitions
32-5-309. Advertising -- limitations
32-5-310. Wage assignments -- limitations
32-5-311. Precomputed interest prohibited