Montana Administrative Register Notice 2-59-520 No. 18   09/18/2014    
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In the matter of the adoption of NEW RULE I pertaining to the annual report by consumer loan licensees










TO: All Concerned Persons


1. On October 20, 2014, the Department of Administration proposes to adopt the above-stated rule.


2. The Department of Administration will make reasonable accommodations for persons with disabilities who wish to participate in this rulemaking process or need an alternative accessible format of this notice. If you require an accommodation, contact the Division of Banking and Financial Institutions no later than 5:00 p.m. on October 3, 2014, to advise us of the nature of the accommodation that you need. Please contact Wayne Johnston, Division of Banking and Financial Institutions, P.O. Box 200546, Helena, Montana 59620-0546; telephone (406) 841-2918; TDD (406) 444-1421; facsimile (406) 841-2930; e-mail to banking@mt.gov.


3. The rule proposed to be adopted provides as follows:



(1) All entities holding a consumer loan license at any time during 2014 shall complete the Consumer Loan Annual Report of Licensee dated August 5, 2014, and file it with the department by April 15, 2015. Instructions for filing are in the report.

(2) Copies of the form are available on the division's web site, www.banking.mt.gov.


AUTH: 32-5-308, MCA

IMP: 32-5-308, MCA


STATEMENT OF REASONABLE NECESSITY: Section 32-5-308, MCA, requires licensees to file an annual report covering the licensee's consumer loan activity in this state during the preceding calendar year. This rule is needed to ensure that all consumer loan licensees holding a consumer loan license at any time during 2014 complete and file a report of their Montana consumer loan activity during 2014. The form sets forth the information required by the department in its supervision of the consumer loan companies in this state.

The due date of the report is April 15, 2015. The department chose this date because it is one quarter after the calendar year end. Businesses need to have sufficient time to close their year-end books and determine their balance sheet as well as the volume, number, and performance of the consumer loans they held during the prior year. The department believes that it is reasonable to allow consumer loan licensees one quarter to accomplish this. It is not reasonable to go beyond one quarter, because businesses should know their financial performance for the preceding year by the end of the first quarter, at the latest.


4. Concerned persons may submit their data, views, or arguments concerning the proposed action to Kelly O'Sullivan, Legal Counsel, Division of Banking and Financial Institutions, P.O. Box 200546, Helena, Montana 59620-0546; faxed to the office at (406) 841-2930; or e-mailed to banking@mt.gov; and must be received no later than 5:00 p.m., October 16, 2014.


5. If persons who are directly affected by the proposed action wish to express their data, views, or arguments orally or in writing at a public hearing, they must make written request for a hearing and submit this request along with any written comments to Kelly O'Sullivan at the above address no later than 5:00 p.m., October 16, 2014.


6. If the agency receives requests for a public hearing on the proposed action from either 10 percent or 25, whichever is less, of the persons directly affected by the proposed action; from the appropriate administrative rule review committee of the Legislature; from a governmental subdivision or agency; or from an association having not less than 25 members who will be directly affected, a hearing will be held at a later date. Notice of the hearing will be published in the Montana Administrative Register. Ten percent of those directly affected has been determined to be 5 persons based on the 55 current consumer loan companies licensed.


7. An electronic copy of this proposal notice is available through the department's web site at http://doa.mt.gov/administrativerules.mcpx. The department strives to make the electronic copy of the notice conform to the official version of the notice, as printed in the Montana Administrative Register, but advises all concerned persons that if a discrepancy exists between the official printed text of the notice and the electronic version of the notice, only the official printed text will be considered. In addition, although the department works to keep its web site accessible at all times, concerned persons should be aware that the web site may be unavailable during some periods, due to system maintenance or technical problems.


8. The Division of Banking and Financial Institutions maintains a list of interested persons who wish to receive notices of rulemaking actions proposed by this division. Persons who wish to have their name added to the mailing list shall make a written request which includes the name and mailing address of the person to receive notices and specifies that the person wishes to receive notices regarding division rulemaking actions. Such written requests may be mailed or delivered to Wayne Johnston, Division of Banking and Financial Institutions, 301 S. Park, Ste. 316, P.O. Box 200546, Helena, Montana 59620-0546; faxed to the office at (406) 841-2930; e-mailed to banking@mt.gov; or may be made by completing a request form at any rules hearing held by the department.


9. The bill sponsor contact requirements of 2-4-302, MCA, do not apply.


10. The department has determined that under 2-4-111, MCA, the proposed new rule will not significantly and directly affect small businesses.




By:   /s/ Sheila Hogan                                        By:   /s/ Michael P. Manion              

Sheila Hogan, Director                                      Michael P. Manion, Rule Reviewer

Department of Administration                            Department of Administration



Certified to the Secretary of State September 8, 2014.


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