Montana Code 17-5-1521. Adoption of rules
17-5-1521. Adoption of rules. (1) The board shall adopt rules to establish:
Terms Used In Montana Code 17-5-1521
- Board: means the board of investments created in 2-15-1808. See Montana Code 17-5-1503
- Local government: means the city in which the project is located, if the project is located within an incorporated municipality, or the county if the project is located within the county but outside the boundaries of an incorporated municipality. See Montana Code 17-5-1503
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Project: means a project as defined in 90-5-101. See Montana Code 17-5-1503
(a)procedures for soliciting and evaluating applications and for notifying the local government of the application for purposes of complying with 17-5-1526 and 17-5-1527; and
(b)a system for evaluating applications, considering the following criteria:
(i)the applicant’s net worth;
(ii)the applicant’s training and experience in the industry involved in the proposed project;
(iii)the applicant’s prospects for succeeding in the proposed project;
(iv)the degree to which the new or increased business resulting from the loan will meet the objectives of 17-5-1502; and
(v)any other factors the board may prescribe.
(2)The board shall adopt rules for the:
(a)organization, approval, standards, and regulation of project applicants;
(b)approval, standards, and regulation of financial institutions under this part;
(c)assessment, collection, and payment of all fees and charges in connection with making, purchasing, and servicing of its bonds and notes, mortgage lending, construction lending, temporary lending, and guaranty programs; and
(d)such other matters as the board considers necessary or desirable.