Montana Code Annotated
Title 31. Credit Transactions and Relationships

31-1-112. Interest rate limitation exemption -- regulated lenders -- merchant finance - 31-1-112. Interest rate limitation exemption -- regulated lenders -- merchant...

31-1-113. Limitation of rule of 78ths - 31-1-113. Limitation of rule of 78ths. The sum of the...

31-1-114. reserved - 31-1-114 reserved.

31-1-115. Issuing credit cards to minors -- collection of debt - 31-1-115. Issuing credit cards to minors -- collection of debt....

31-1-116. Commercial loans -- when written agreement required - 31-1-116. Commercial loans -- when written agreement required. (1) With...

Part 2. Retail Installment Sales

31-1-201. Short title - 31-1-201. Short title. This part may be cited as the...

31-1-202. Definitions -- scope - 31-1-202. Definitions -- scope. (1) Unless the context requires otherwise,...

31-1-203. Notice and opportunity for hearing -- service -- penalties -- exception - 31-1-203. Notice and opportunity for hearing -- service -- penalties...

31-1-204. Waiver - 31-1-204. Waiver. Any waiver of the provisions of this part...

31-1-205. through 31-1-210 reserved - 31-1-205 through 31-1-210 reserved.

31-1-211. Powers of department - 31-1-211. Powers of department. (1) The department may adopt rules...

31-1-212. Investigations and complaints - 31-1-212. Investigations and complaints. (1) The department may make those...

31-1-213. through 31-1-220 reserved - 31-1-213 through 31-1-220 reserved.

31-1-221. Licensing of sales finance companies required - 31-1-221. Licensing of sales finance companies required. (1) A person...

31-1-222. Denial of licenses - 31-1-222. Denial of licenses. Subject to the notice and opportunity...

31-1-223. Department authorized to participate in nationwide licensing system for purposes of licensing sales finance companies -- rulemaking - 31-1-223. Department authorized to participate in nationwide licensing system for...

31-1-224. through 31-1-230 reserved - 31-1-224 through 31-1-230 reserved.

31-1-231. Requirements of retail installment contracts - 31-1-231. Requirements of retail installment contracts. (1) Each retail installment...

31-1-232. Buyer's right of rescission - 31-1-232. Buyer's right of rescission. The seller shall deliver to...

31-1-233. Insurance - 31-1-233. Insurance. (1) The amount, if any, included for insurance...

31-1-234. Transfer of equity -- fee - 31-1-234. Transfer of equity -- fee. A buyer may transfer...

31-1-235. Delinquency fee - 31-1-235. Delinquency fee. (1) The holder of a retail installment...

31-1-236. Notice and receipt of payment - 31-1-236. Notice and receipt of payment. (1) Upon written request...

31-1-237. through 31-1-240 reserved - 31-1-237 through 31-1-240 reserved.

31-1-241. Finance charge limitation - 31-1-241. Finance charge limitation. (1) The finance charge included in...

31-1-242. Refunds on prepayment - 31-1-242. Refunds on prepayment. Notwithstanding any other provision of law...

31-1-243. Refinancing retail installment contract - 31-1-243. Refinancing retail installment contract. The holder of a contract,...

Part 3. Wage Brokers

31-1-301. Wage brokers to procure license and give bond - 31-1-301. Wage brokers to procure license and give bond. No...

31-1-302. Issuance of license -- terms and amount thereof - 31-1-302. Issuance of license -- terms and amount thereof. The...

31-1-303. Wage broker defined - 31-1-303. Wage broker defined. Any person, company, corporation, or association...

31-1-304. Restrictions upon assignment of wages or salary - 31-1-304. Restrictions upon assignment of wages or salary. An assignment...

31-1-305. Interest on loans -- amount and computation - 31-1-305. Interest on loans -- amount and computation. A wage...

31-1-306. Spouse must join in assignment of wages -- acknowledgment - 31-1-306. Spouse must join in assignment of wages -- acknowledgment....

31-1-307. Assignments invalid without notice to employer -- filing assignments - 31-1-307. Assignments invalid without notice to employer -- filing assignments....

31-1-308. Assignment to be considered a loan - 31-1-308. Assignment to be considered a loan. Every purchase by...

31-1-309. Violation -- penalties - 31-1-309. Violation -- penalties. Any person, company, corporation, or association...

31-1-310. When note, instrument, or assignment void - 31-1-310. When note, instrument, or assignment void. Any note, bill,...

Part 4. Pawnbrokers

31-1-401. Interest pawnbrokers may receive -- civil enforcement -- prohibited activities - 31-1-401. Interest pawnbrokers may receive -- civil enforcement -- prohibited...

31-1-402. Pawnbroker to keep register - 31-1-402. Pawnbroker to keep register. (1) Every pawnbroker or junk...

31-1-403. Repealed - 31-1-403. Repealed. Sec. 2, Ch. 344, L. 1993. History: En....

31-1-404. Repealed - 31-1-404. Repealed. Sec. 2, Ch. 344, L. 1993. History: En....

31-1-405. Repealed - 31-1-405. Repealed. Sec. 2, Ch. 344, L. 1993. History: En....

31-1-406. Repealed - 31-1-406. Repealed. Sec. 2, Ch. 344, L. 1993. History: En....

31-1-407. Violation a misdemeanor - 31-1-407. Violation a misdemeanor. A violation of any of the...

Part 5. Retail Sales -- Late Payment Charges

31-1-501. Late payment charges -- accounts receivable for merchandise sold at retail - 31-1-501. Late payment charges -- accounts receivable for merchandise sold...

31-1-502. Periodic statement to be furnished to debtor - 31-1-502. Periodic statement to be furnished to debtor. (1) A...

Part 6. State-Sponsored Credit Card (Repealed)

31-1-601. Repealed - 31-1-601. Repealed. Sec. 2, Ch. 252, L. 1995. History: En....

31-1-602. Repealed - 31-1-602. Repealed. Sec. 2, Ch. 252, L. 1995. History: En....

31-1-603. Repealed - 31-1-603. Repealed. Sec. 2, Ch. 252, L. 1995. History: En....

Part 7. Montana Deferred Deposit Loan Act

31-1-701. Short title - 31-1-701. Short title. This part may be cited as the...

31-1-702. Purpose -- rules -- fees - 31-1-702. Purpose -- rules -- fees. (1) The purpose of...

31-1-703. Definitions - 31-1-703. Definitions. For the purposes of this part, the following...

31-1-704. Scope - 31-1-704. Scope. (1) This part applies to deferred deposit lenders...

31-1-705. License -- application requirements -- business locations - 31-1-705. License -- application requirements -- business locations. (1) A...

31-1-706. License renewal fee - 31-1-706. License renewal fee. (1) A person licensed under 31-1-705...

31-1-707. Denial of license and license renewal - 31-1-707. Denial of license and license renewal. (1) (a) Except...

31-1-708. and 31-1-709 reserved - 31-1-708 and 31-1-709 reserved.

31-1-710. Department authorized to participate in nationwide licensing system for purposes of licensing deferred deposit loan licensees -- rulemaking - 31-1-710. Department authorized to participate in nationwide licensing system for...

31-1-711. Examinations -- fee - 31-1-711. Examinations -- fee. (1) The department may conduct an...

31-1-712. Notice of violation -- administrative hearing -- penalties -- liability - 31-1-712. Notice of violation -- administrative hearing -- penalties --...

31-1-713. Department obligations -- complaints - 31-1-713. Department obligations -- complaints. (1) The department shall maintain,...

31-1-714. Information and annual reports - 31-1-714. Information and annual reports. (1) Each licensee shall keep...

31-1-715. Loan requirements -- right of rescission -- arbitration -- completion of transaction - 31-1-715. Loan requirements -- right of rescission -- arbitration --...

31-1-716. through 31-1-720 reserved - 31-1-716 through 31-1-720 reserved.

31-1-721. Required disclosures -- loan agreement - 31-1-721. Required disclosures -- loan agreement. (1) Before entering into...

31-1-722. Prohibited and permitted fees -- attorney fees and costs - 31-1-722. Prohibited and permitted fees -- attorney fees and costs....

31-1-723. Prohibited acts - 31-1-723. Prohibited acts. A licensee making deferred deposit loans may...

31-1-724. Civil remedies - 31-1-724. Civil remedies. (1) The remedies provided in this section...

31-1-725. Repealed - 31-1-725. Repealed. Sec. 9, Ch. 23, L. 2015. History: En....

31-1-726. Investigations by department -- subpoenas -- oaths -- examination of witnesses and evidence - 31-1-726. Investigations by department -- subpoenas -- oaths -- examination...

31-1-727. Cease and desist orders - 31-1-727. Cease and desist orders. (1) If the department determines...

31-1-728. Injunctions -- receivers - 31-1-728. Injunctions -- receivers. (1) Whenever the department has reason...

31-1-729. Violation of specified federal laws -- rulemaking authority - 31-1-729. Violation of specified federal laws -- rulemaking authority. (1)...

Part 8. Title Loan Act (Repealed)

31-1-801. Repealed - 31-1-801. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-802. Repealed - 31-1-802. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-803. Repealed - 31-1-803. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-804. Repealed - 31-1-804. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-805. Repealed - 31-1-805. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-806. through 31-1-809 reserved - 31-1-806 through 31-1-809 reserved.

31-1-810. Repealed - 31-1-810. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-811. Repealed - 31-1-811. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-812. Repealed - 31-1-812. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-813. Repealed - 31-1-813. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-814. reserved - 31-1-814 reserved.

31-1-815. Repealed - 31-1-815. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-816. Repealed - 31-1-816. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-817. Repealed - 31-1-817. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-818. Repealed - 31-1-818. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-819. Repealed - 31-1-819. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-820. Repealed - 31-1-820. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-821. Repealed - 31-1-821. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-822. Repealed - 31-1-822. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-823. and 31-1-824 reserved - 31-1-823 and 31-1-824 reserved.

31-1-825. Repealed - 31-1-825. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-826. Repealed - 31-1-826. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-827. Repealed - 31-1-827. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-828. Repealed - 31-1-828. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-829. Repealed - 31-1-829. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-830. through 31-1-840 reserved - 31-1-830 through 31-1-840 reserved.

31-1-841. Repealed - 31-1-841. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

31-1-842. Repealed - 31-1-842. Repealed. Sec. 7, Ch. 278, L. 2013. History: En....

Chapter 2. Debtor and Creditor Relationships

Part 1. General Provisions -- Definitions

31-2-101. Debtor defined - 31-2-101. Debtor defined. A debtor is one who, by reason...

31-2-102. Creditor defined - 31-2-102. Creditor defined. A creditor is a person in whose...

31-2-103. Contracts of debtor are valid - 31-2-103. Contracts of debtor are valid. In the absence of...

31-2-104. Payments in preference - 31-2-104. Payments in preference. A debtor may pay one creditor...

31-2-105. Relative rights of different creditors - 31-2-105. Relative rights of different creditors. When a creditor is...

31-2-106. Exempt property -- bankruptcy proceeding - 31-2-106. Exempt property -- bankruptcy proceeding. An individual may not...

Part 2. Assignments for Benefit of Creditors

31-2-201. When debtor may execute assignment - 31-2-201. When debtor may execute assignment. An insolvent debtor may,...

31-2-202. Insolvency -- what constitutes - 31-2-202. Insolvency -- what constitutes. A debtor is insolvent, within...

31-2-203. Certain transfers not affected - 31-2-203. Certain transfers not affected. The provisions of this part...

31-2-204. What debts may be secured - 31-2-204. What debts may be secured. An assignment for the...

31-2-205. Preference given for wages - 31-2-205. Preference given for wages. In all assignments of property...

31-2-206. Preference to be absolute - 31-2-206. Preference to be absolute. A preference in an assignment...

31-2-207. Certain rights not affected by preferences in assignment - 31-2-207. Certain rights not affected by preferences in assignment. No...

31-2-208. Joint and separate debts - 31-2-208. Joint and separate debts. Joint or joint and several...

31-2-209. Assignment -- when void - 31-2-209. Assignment -- when void. An assignment for the benefit...

31-2-210. The instrument of assignment - 31-2-210. The instrument of assignment. (1) An assignment for the...

31-2-211. Compliance necessary to validity of assignment - 31-2-211. Compliance necessary to validity of assignment. Unless the provisions...

31-2-212. Assignee takes subject to rights of third parties - 31-2-212. Assignee takes subject to rights of third parties. An...

31-2-213. Inventory required - 31-2-213. Inventory required. Within 20 days after an assignment is...

31-2-214. Verification of inventory -- when assignee required to file -- inspection of assignor's books and papers - 31-2-214. Verification of inventory -- when assignee required to file...

31-2-215. Recording assignment and filing inventory - 31-2-215. Recording assignment and filing inventory. An assignment for the...

31-2-216. Recording and filing when more than one assignor - 31-2-216. Recording and filing when more than one assignor. If...

31-2-217. Effect of failing to record - 31-2-217. Effect of failing to record. An assignment for the...

31-2-218. Assignment of real property - 31-2-218. Assignment of real property. When an assignment for the...

31-2-219. Bond of assignees - 31-2-219. Bond of assignees. Within 30 days after the date...

31-2-220. Management, disposal, and conversion of estate - 31-2-220. Management, disposal, and conversion of estate. (1) Until the...

31-2-221. Notice to creditors to present claims - 31-2-221. Notice to creditors to present claims. (1) The judge...

31-2-222. Notices to parties interested in the estate as creditors or otherwise - 31-2-222. Notices to parties interested in the estate as creditors...

31-2-223. Duties of assignee - 31-2-223. Duties of assignee. It shall be the duty of...

31-2-224. Power of court - 31-2-224. Power of court. The court has power to: (1)...

31-2-225. When further security required - 31-2-225. When further security required. The district judge may, upon...

31-2-226. Accounting of assignee - 31-2-226. Accounting of assignee. After 6 months from the date...

31-2-227. Property exempt - 31-2-227. Property exempt. Property exempt from execution and insurance upon...

31-2-228. Compensation - 31-2-228. Compensation. In the absence of any provision in the...

31-2-229. Assignees protected for acts done in good faith - 31-2-229. Assignees protected for acts done in good faith. An...

31-2-230. Assent of creditors necessary to modification of assignment - 31-2-230. Assent of creditors necessary to modification of assignment. An...

Part 3. Uniform Fraudulent Transfer Act

31-2-301. Repealed - 31-2-301. Repealed. Sec. 14, Ch. 324, L. 1991. History: En....

31-2-302. Repealed - 31-2-302. Repealed. Sec. 14, Ch. 324, L. 1991. History: En....

31-2-303. Repealed - 31-2-303. Repealed. Sec. 14, Ch. 324, L. 1991. History: En....

31-2-304. through 31-2-310 reserved - 31-2-304 through 31-2-310 reserved.

31-2-311. Repealed - 31-2-311. Repealed. Sec. 14, Ch. 324, L. 1991. History: En....

31-2-312. Repealed - 31-2-312. Repealed. Sec. 14, Ch. 324, L. 1991. History: En....

31-2-313. Repealed - 31-2-313. Repealed. Sec. 14, Ch. 324, L. 1991. History: En....

31-2-314. Repealed - 31-2-314. Repealed. Sec. 14, Ch. 324, L. 1991. History: En....

31-2-315. Repealed - 31-2-315. Repealed. Sec. 14, Ch. 324, L. 1991. History: En....

31-2-316. Repealed - 31-2-316. Repealed. Sec. 14, Ch. 324, L. 1991. History: En....

31-2-317. Repealed - 31-2-317. Repealed. Sec. 14, Ch. 324, L. 1991. History: En....

31-2-318. through 31-2-320 reserved - 31-2-318 through 31-2-320 reserved.

31-2-321. Repealed - 31-2-321. Repealed. Sec. 14, Ch. 324, L. 1991. History: En....

31-2-322. Repealed - 31-2-322. Repealed. Sec. 14, Ch. 324, L. 1991. History: En....

31-2-323. Repealed - 31-2-323. Repealed. Sec. 14, Ch. 324, L. 1991. History: En....

31-2-324. Repealed - 31-2-324. Repealed. Sec. 14, Ch. 324, L. 1991. History: En....

31-2-325. Repealed - 31-2-325. Repealed. Sec. 14, Ch. 324, L. 1991. History: En....

31-2-326. Short title - 31-2-326. Short title. This part may be cited as the...

31-2-327. Uniformity of application and construction - 31-2-327. Uniformity of application and construction. This part must be...

31-2-328. Definitions - 31-2-328. Definitions. As used in this part, the following definitions...

31-2-329. Insolvency - 31-2-329. Insolvency. (1) A debtor is insolvent if the sum...

31-2-330. Value - 31-2-330. Value. (1) Value is given for a transfer or...

31-2-331. and 31-2-332 reserved - 31-2-331 and 31-2-332 reserved.

31-2-333. Transfers fraudulent as to present and future creditors - 31-2-333. Transfers fraudulent as to present and future creditors. (1)...

31-2-334. Transfers fraudulent as to present creditors - 31-2-334. Transfers fraudulent as to present creditors. (1) A transfer...

31-2-335. When transfer made or obligation incurred - 31-2-335. When transfer made or obligation incurred. For the purposes...

31-2-336. through 31-2-338 reserved - 31-2-336 through 31-2-338 reserved.

31-2-339. Remedies of creditors - 31-2-339. Remedies of creditors. (1) In an action for relief...

31-2-340. Defenses, liability, and protection of transferee - 31-2-340. Defenses, liability, and protection of transferee. (1) A transfer...

31-2-341. Termination of cause of action - 31-2-341. Termination of cause of action. A cause of action...

31-2-342. Supplementary provisions - 31-2-342. Supplementary provisions. Unless displaced by the provisions of this...

Chapter 3. Related Credit Practices

Part 1. Consumer Reporting Agencies

31-3-101. Purpose - 31-3-101. Purpose. It is the purpose of this part to...

31-3-102. Definitions and rules of construction - 31-3-102. Definitions and rules of construction. (1) Definitions and rules...

31-3-103. Credit rating -- property right - 31-3-103. Credit rating -- property right. A credit rating is...

31-3-104. through 31-3-110 reserved - 31-3-104 through 31-3-110 reserved.

31-3-111. Permissible purposes of reports - 31-3-111. Permissible purposes of reports. A consumer reporting agency may...

31-3-112. Obsolete information - 31-3-112. Obsolete information. No consumer reporting agency may make any...

31-3-113. Disclosure of investigative consumer reports - 31-3-113. Disclosure of investigative consumer reports. (1) A person may...

31-3-114. Compliance procedures - 31-3-114. Compliance procedures. (1) Every consumer reporting agency shall maintain...

31-3-115. Adverse information - 31-3-115. Adverse information. (1) Whenever a consumer reporting agency prepares...

31-3-116. through 31-3-120 reserved - 31-3-116 through 31-3-120 reserved.

31-3-121. Disclosures to governmental agencies - 31-3-121. Disclosures to governmental agencies. Notwithstanding the provisions of 31-3-111,...

31-3-122. Disclosures to consumers - 31-3-122. Disclosures to consumers. (1) Every consumer reporting agency shall,...

31-3-123. Conditions of disclosure to consumer - 31-3-123. Conditions of disclosure to consumer. (1) A consumer reporting...

31-3-124. Procedure in case of disputed accuracy - 31-3-124. Procedure in case of disputed accuracy. (1) If the...

31-3-125. Fees for disclosures to consumers - 31-3-125. Fees for disclosures to consumers. A consumer reporting agency...

31-3-126. Public record information for employment purposes - 31-3-126. Public record information for employment purposes. A consumer reporting...

31-3-127. Repealed - 31-3-127. Repealed. Sec. 10, Ch. 418, L. 1989. History: En....

31-3-128. through 31-3-130 reserved - 31-3-128 through 31-3-130 reserved.

31-3-131. Requirements on users of consumer reports - 31-3-131. Requirements on users of consumer reports. (1) Whenever credit...

31-3-132. Block of information on credit report - 31-3-132. Block of information on credit report. (1) Within 30...

31-3-133. through 31-3-140 reserved - 31-3-133 through 31-3-140 reserved.

31-3-141. Actions available to consumer - 31-3-141. Actions available to consumer. (1) A consumer may bring...

31-3-142. Civil liability for willful noncompliance - 31-3-142. Civil liability for willful noncompliance. Any consumer reporting agency...

31-3-143. Civil liability for negligent noncompliance - 31-3-143. Civil liability for negligent noncompliance. Any consumer reporting agency...

31-3-144. through 31-3-150 reserved - 31-3-144 through 31-3-150 reserved.

31-3-151. Jurisdiction -- venue - 31-3-151. Jurisdiction -- venue. A consumer may bring suit in...

31-3-152. Rules - 31-3-152. Rules. The department of administration shall enforce this part...

31-3-153. Violation - 31-3-153. Violation. For the purposes of this part, a violation...

Part 2. Debt Adjusting (Repealed)

31-3-201. Repealed - 31-3-201. Repealed. Sec. 10, Ch. 272, L. 2005. History: En....

31-3-202. Repealed - 31-3-202. Repealed. Sec. 10, Ch. 272, L. 2005. History: En....

31-3-203. Repealed - 31-3-203. Repealed. Sec. 10, Ch. 272, L. 2005. History: En....

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Montana Code Annotated Title 31. Credit Transactions and Relationships

Montana Code Annotated
Title 31. Credit Transactions and Relationships