Current through Register Vol. 23, December 6, 2024
Rule 2.59.910 - 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, as defined in 32-1-109, MCA: (a) solicit loans on behalf of the bank or a branch of the bank; (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 bank and to contract with the bank for servicing of such loans. (2) A bank 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. NEW, 2021 MAR p. 328, Eff.3/27/2021AUTH: 32-1-211, 32-1-218, 32-1-222, MCA IMP: 32-1-109, 32-1-222, MCA