Administrative Rules of Montana
Department 2 - ADMINISTRATION
Chapter 2.59 - BANKING AND FINANCIAL INSTITUTIONS
Subchapter 2.59.9 - Relocations
Rule 2.59.903 - LOAN PRODUCTION OFFICE

(1) A bank that desires to establish a loan production office in this state shall provide written notice to the department of its intent to do so at least thirty days prior to opening the loan production office using the Notice of Intent to Establish a Loan Production Office form dated June 29, 2020, located at www.banking.mt.gov.

(2) A bank organized under the laws of Montana that intends to open a loan production office in another state shall submit copies of all required regulatory filings or notices required by the host state and federal agencies along with the items required in the Notice of Intent to Establish a Loan Production Office form, if they are not already included in the form, to the department.

(3) A Montana state-chartered bank that desires to relocate or close a loan production office temporarily or permanently shall give notice to its customers using the customer Notice of Relocation form dated June 29, 2020, or customer Notice of Closure form dated June 29, 2020, located at www.banking.mt.gov.

(4) The relocation or closure form shall be provided to customers of the loan production office by posting it at the loan production office at least fifteen days before the relocation or closure of the office. The relocation or closure form shall be provided to the department at the same time.

(5) The department reserves the right to request additional information regarding opening, closing, or relocation of a loan production office.

(6) If the loan production office will be using an assumed name, compliance with 32-1-402, MCA, is required.

(7) Each loan production office shall be subject to examination and supervision by the department in the same manner and to the same extent as the bank.

(8) Each loan production office operating in Montana as of the effective date of this rule, shall provide written notice to the department containing the information required in (1) on or before October 1, 2020.