Montana Code 31-1-111. Definition of regulated lender
31-1-111. Definition of regulated lender. The term “regulated lender”, as used in 31-1-112 and 31-1-116, means:
Terms Used In Montana Code 31-1-111
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
- United States: includes the District of Columbia and the territories. See Montana Code 1-1-201
(1)a bank, building and loan association, savings and loan association, trust company, credit union, credit association, consumer loan licensee, deferred deposit loan licensee, residential mortgage lender licensee, development corporation, bank holding company, or mutual or stock insurance company organized pursuant to state or federal statutory authority and subject to supervision, control, or regulation by:
(a)an agency of the state of Montana; or
(b)an agency of the federal government;
(2)a subsidiary of an entity described in subsection (1);
(3)a Montana state agency or a federal agency that is authorized to lend money;
(4)a corporation or other entity established by congress or the state of Montana that is owned, in whole or in part, by the United States or the state of Montana and that is authorized to lend money.