Administrative Rules of Montana
Department 2 - ADMINISTRATION
Chapter 2.59 - BANKING AND FINANCIAL INSTITUTIONS
Subchapter 2.59.9 - Relocations
Rule 2.59.910 - LOAN PRODUCTION OFFICE ACTIVITIES
Universal Citation: MT Admin Rules 2.59.910
Current through Register Vol. 18, September 20, 2024
(1) A loan production office may conduct any of the following activities, which shall not, individually or collectively, cause the loan production office to be considered a branch, as defined in 32-1-109, MCA:
(a) solicit loans on behalf of the bank
or a branch of the bank;
(b)
assemble credit information;
(c)
make property inspections and appraisals;
(d) secure title information;
(e) prepare applications for loans, including
making recommendations with respect to action; and
(f) solicit investors to purchase loans from
the bank and to contract with the bank for servicing of such loans.
(2) A bank shall not accept deposits or loan payments, originate deposits or savings or checking accounts, approve loans, or disburse loan funds at a loan production office established pursuant to this rule.
AUTH: 32-1-211, 32-1-218, 32-1-222, MCA IMP: 32-1-109, 32-1-222, MCA
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