Terms Used In Montana Code > Title 17 > Chapter 6 > Part 4 - Microbusiness Development Act

• Amortization: Paying off a loan by regular installments.
• Certified microbusiness development corporation: means a microbusiness development corporation certified pursuant to 17-6-408. See Montana Code 17-6-403
• 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.
• Department: means the department of commerce provided for in 2-15-1801. See Montana Code 17-6-403
• Development loan: means money loaned to a certified microbusiness development corporation by the department for the purpose of making microbusiness loans under the provisions of this part. See Montana Code 17-6-403
• Lien: A claim against real or personal property in satisfaction of a debt.
• Microbusiness development corporation: means a nonprofit corporation organized and existing under the laws of the state to provide training, technical assistance, and access to capital for the startup or expansion of qualified microbusinesses. See Montana Code 17-6-403
• Oversight: Committee review of the activities of a Federal agency or program.
• Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
• Process: means a writ or summons issued in the course of judicial proceedings. See Montana Code 1-1-202
• Program: means the microbusiness finance program established in 17-6-406. See Montana Code 17-6-403
• Property: means real and personal property. See Montana Code 1-1-205
• Revolving loan fund: means a fund required to be established by a certified microbusiness development corporation that receives a development loan. See Montana Code 17-6-403
• 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