Rule 2.59.2043 - PROHIBITED ACTS OR PRACTICES(1) A mutual association is prohibited from engaging in any of the following acts or practices:(a) extending credit or altering the terms or conditions of an extension of credit conditioned upon the customer entering into a debt cancellation contract or debt suspension agreement with the mutual association. The prohibition is commonly referred to in the regulatory context as the anti-tying provision;(b) engaging in any practice or using any advertisement that could mislead or otherwise cause a reasonable person to reach an erroneous belief with respect to information that must be disclosed under ARM 2.59.2042, including what is being offered, the cost, and/or the terms of the contract;(c) offering debt cancellation contracts or debt suspension agreements that contain terms: (i) giving the mutual association the right unilaterally to modify the contract unless: (A) the modification is favorable to the customer and is made without additional charge to the customer; or(B) the customer is notified of any proposed change and is provided a reasonable opportunity to cancel the contract without penalty before the change goes into effect; or(ii) requiring an up-front, lump-sum single payment for the contract if the extension of credit to which the contract pertains is a residential mortgage loan.Mont. Admin. r. 2.59.2043
NEW, 2022 MAR p. 230, Eff. 2/12/2022AUTH: 32-2-704, MCA; IMP: 32-2-909, MCA