HOME    SEARCH    ABOUT US    CONTACT US    HELP   
           
Rule: 2.59.315 Prev     Up     Next    
Rule Title: LICENSE SURRENDER
Add to My Favorites
Add to Favorites
Department: ADMINISTRATION
Chapter: BANKING AND FINANCIAL INSTITUTIONS
Subchapter: Consumer Loan Licensees
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

Printer Friendly Version

2.59.315    LICENSE SURRENDER

(1) The department may decline to accept a licensee's offer to surrender a license under the following circumstances:

(a) the licensee has not fully complied with ARM 2.59.319;

(b) the licensee has not made a succession plan that adequately protects consumers related to the continued servicing of the licensee's active loan files;

(c) the licensee has not fully complied with a final order issued by the department in an enforcement action even though compliance is not yet due;

(d) the department has an outstanding complaint or a pending enforcement action against the licensee; or

(e) the licensee has not submitted an annual report covering the final calendar year or partial year that the licensee was in business irrespective of whether the licensee had any Montana loan activity during that reporting period.

(2) Once the department accepts an offer to surrender a license, the license may not be reinstated but the former licensee may reapply for a new license at any time.

 

History: 32-5-205, 32-5-209, MCA; IMP, 32-5-205, 32-5-209, MCA; NEW, 2014 MAR p. 2447, Eff. 10/10/14; AMD, 2015 MAR p. 2246, Eff. 12/25/15; AMD, 2022 MAR p. 228, Eff. 2/12/22.


 

 
MAR Notices Effective From Effective To History Notes
2-59-612 2/12/2022 Current History: 32-5-205, 32-5-209, MCA; IMP, 32-5-205, 32-5-209, MCA; NEW, 2014 MAR p. 2447, Eff. 10/10/14; AMD, 2015 MAR p. 2246, Eff. 12/25/15; AMD, 2022 MAR p. 228, Eff. 2/12/22.
2-59-522 12/25/2015 2/12/2022 History: 32-5-205, 32-5-209, MCA; IMP, 32-5-205, 32-5-209, MCA; NEW, 2014 MAR p. 2447, Eff. 10/10/14; AMD, 2015 MAR p. 2246, Eff. 12/25/15.
2-59-515 10/10/2014 12/25/2015 History: 32-5-205, 32-5-209, MCA; IMP, 32-5-205, 32-5-209, MCA; NEW, 2014 MAR p. 2447, Eff. 10/10/14.
Home  |   Search  |   About Us  |   Contact Us  |   Help  |   Disclaimer  |   Privacy & Security