Montana Code 32-9-113. Control persons — application for license — renewal
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32-9-113. Control persons — application for license — renewal. For the department to consider an entity for a state license or license renewal, each person with control, as defined in 32-9-103, of the entity is required to independently meet the requirements established in 32-9-120(1)(a) through (1)(c) and (1)(g). (See part compiler’s comment regarding contingent suspension.)
Terms Used In Montana Code 32-9-113
- Application: means a request, in any form, for an offer of residential mortgage loan terms or a response to a solicitation of an offer of residential mortgage loan terms and includes the information about the borrower that is customary or necessary in a decision on whether to make such an offer. See Montana Code 32-9-103
- Control: means the power, directly or indirectly, to direct the management or policies of an entity, whether through ownership of securities, by contract, or otherwise. See Montana Code 32-9-103
- Department: means the department of administration provided for in 2-15-1001, acting through its division of banking and financial institutions. See Montana Code 32-9-103
- Entity: means a business organization, including a sole proprietorship. See Montana Code 32-9-103
- Person: means an individual, sole proprietorship, corporation, company, limited liability company, partnership, limited liability partnership, trust, or association. See Montana Code 32-9-103
- 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