Montana Consumer Loan Licensing
A consumer loan license is needed to engage in business as defined in the Montana Consumer Loan Act (Section 32-5-101, MCA).
**Memorandum: I-164 Interest Calculations - March 21, 2011**
Statute
Administrative Rules
Administrative Rule Notices
| MAR Notice Number | Topics Addressed in Notice | Date |
| 2-59-419 | Notice of Amendment and Repeal: Examination Fees; Dollar Amounts to Which Consumer Loan Rates are to be Applied | 01/14/2010 |
| 2-59-419 | Notice of Proposed Amendment and Repeal: Examination Fees; Dollar Amounts to Which Consumer Loan Rates are to be Applied | 10/29/2009 |
Licensee Lists
Recent Legislation (2011 Regular Session)
Forms & Instructions
- Download Adobe Reader
- Application for Consumer Loan License
- Personal Questionnaire Form
- Renewal Form - renewal due by December 1, 2011
- Annual Report - 2011 Annual Report must be filed on or before April 15, 2012
- Annual Report Preparation Instructions
- Complaint Form
- Consumer Loan License Questionnaire - Due by December 24, 2010
Memorandums
- I-164 Interest Calculations - March 21, 2011
- License Renewal & Ballot Initiative No. 164 & Questionnaire - December 1, 2010
- License Renewal & Ballot Initiative No. 164 - November 3, 2010
Wombold v. Associates Financial Services Company
On December 30, 2004, the Montana Supreme Court in Wombold v. Associates Financial Services Company, 2004 MT 397, 2004 Mont. LEXIS 680, held that prepaid finance charges, loan fees and discount points paid on the origination of real estate loans by Consumer Loan Licensees are prohibited by the Montana Consumer Loan Act. A copy of the case may be found on the Montana State Law Library website at http://www.lawlibrary.mt.gov/dscgi/ds.py/Get/File-37835/03-808.pdf.
Please seek the advice of competent legal counsel and structure all loans made after December 30, 2004 in accordance with this holding. If you have any questions, please contact the Division of Banking and Financial Institutions at (406) 841-2920.
Questions?
Division of Banking and Financial Institutions
301 South Park, Suite 316, PO Box 200546, Helena, MT 59620
Phone: (406) 841-2920 Fax: (406) 841-2930
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