2.59.1505 EXAMINATION OF DEFERRED DEPOSIT LENDERS
(1) An examination of a licensee's lending operations conducted by the department to verify compliance with Title 31, chapter 1, part 7, MCA, and these rules, must consist of a comprehensive review of the records, operations, and affairs of the licensee. The review must include inquiry into:
(a) accounting and financial records;
(b) records of the borrowers' files including:
(i) evidence of required disclosures; and
(ii) use of a department-approved loan agreement form; and
(c) assurance of continued capital adequacy and bonding.
History: 31-1-702, MCA; IMP, 31-1-711, MCA; NEW, 2000 MAR p. 71, Eff. 11/5/99; TRANS, from Commerce, 2001 MAR p. 1178; AMD, 2011 MAR p. 1365, Eff. 7/29/11.