2.59.1504    OWNERSHIP CHANGE IN THE DEFERRED DEPOSIT LENDER

(1) In the event there is a change of ownership in a licensee, the owner(s) shall file with the department an application for a new license. For purposes of this rule, a change in ownership includes circumstances when 25% or more of the ownership is transferred to a new owner.

History: 31-1-702, MCA; IMP, 31-1-702, 31-1-705, MCA; NEW, 2000 MAR p. 71, Eff. 11/5/99; TRANS, from Commerce, 2001 MAR p. 1178.