Montana Code 90-6-507. Rulemaking authority
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90-6-507. Rulemaking authority. The board shall adopt all procedural and substantive rules necessary for the administration of this part, including rules required to secure, implement, and administer the reverse annuity mortgage loan program.
Terms Used In Montana Code 90-6-507
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.