Rule 2.59.2036 - LOAN PRODUCTION OFFICE ACTIVITIES(1) A loan production office may conduct any of the following activities, which shall not, individually or collectively, cause the loan production office to be considered a branch:(a) solicit loans on behalf of the mutual association or a branch of the mutual association;(b) assemble credit information;(c) make property inspections and appraisals;(d) secure title information;(e) prepare applications for loans, including making recommendations with respect to action; and(f) solicit investors to purchase loans from the mutual association and to contract with the mutual association for servicing of such loans.(2) A mutual association shall not accept deposits or loan payments, originate deposits or savings or checking accounts, approve loans, or disburse loan funds at a loan production office established pursuant to this rule.Mont. Admin. r. 2.59.2036
NEW, 2022 MAR p. 230, Eff. 2/12/2022AUTH: 32-2-701, 32-2-704, 32-2-830, MCA; IMP: 32-2-701, 32-2-704, 32-2-830, MCA