BANKING AND FINANCIAL INSTITUTIONS

2.59.702 CHANGE OF OWNERSHIP IN ESCROW BUSINESS In the event of a change of ownership of an escrow business, the buyer(s) shall file with the department of administration, a new application for a license. For the purpose of this rule, a change in ownership will be deemed to occur…

2.59.703 EXAMINATION OF ESCROW BUSINESS Examinations of escrow businesses may be conducted by the department of administration, division banking and financial institutions, when requested by the licensee or when, in the judgment of the director, they are necessary. Licensees shal…

2.59.704 ESCROW BUSINESS BONDING An applicant for an escrow business license shall file with the division of banking and financial institutions a bond in the amount of $100,000 along with the application for licensure. Authorizing statute(s): Sec. 32-7-108, MCA Implementing statu…

2.59.705 ADOPTION OF STANDARDIZED FORMS AND PROCEDURES OF THE NMLS The NMLS Policy Guidebook datedSeptember 27, 2021, isadopted by reference and available on the NMLS website at mortgage.nationwidelicensingsystem.org/slr/common/policy/Pages/default.aspx . Except as provided in AR…

2.59.706 TRANSITION (REPEALED) Authorizing statute(s): 32-7-109, 32-7-112, MCA Implementing statute(s): 32-7-109, 32-7-112, MCA History: NEW, 2014 MAR p. 2448, Eff. 10/10/14; REP, 2016 MAR p. 2410, Eff. 12/24/16.

2.59.707 LICENSE RENEWALS The renewal period begins November 1. Every renewal applicant shall apply for renewal through the NMLS. Licensees shall use the NMLS renewal process to request renewal of their license. Licensees shall submit their renewal applications by December 1 of e…

2.59.708 INITIAL LICENSE APPLICATION THROUGH NMLS (REPEALED) Authorizing statute(s): 32-7-109, 32-7-112, MCA Implementing statute(s): 32-7-109, 32-7-112, MCA History: NEW, 2014 MAR p. 2448, Eff. 10/10/14; REP, 2022 MAR p. 228, Eff. 2/12/22.

2.59.709 AMENDMENTS (REPEALED) Authorizing statute(s): 32-7-109, 32-7-112, MCA Implementing statute(s): 32-7-109, 32-7-112, MCA History: NEW, 2014 MAR p. 2448, Eff. 10/10/14; REP, 2022 MAR p. 228, Eff. 2/12/22.

2.59.710 LICENSE SURRENDER (REPEALED) Authorizing statute(s): 32-7-112, MCA Implementing statute(s): 32-7-112, MCA History: NEW, 2014 MAR p. 2448, Eff. 10/10/14; REP, 2022 MAR p. 228, Eff. 2/12/22.

2.59.711 FEES (REPEALED) Authorizing statute(s): 32-7-110, 32-7-112 MCA Implementing statute(s): 32-7-110, 32-7-112, MCA History: NEW, 2014 MAR p. 2448, Eff. 10/10/14; REP, 2022 MAR p. 228, Eff. 2/12/22.

2.59.712 REINSTATEMENT OF EXPIRED LICENSES Upon expiration of a license issued under 32-7-110, MCA, due to nonrenewal by the renewal date, the former licensee shall immediately cease from engaging in the activities for which the license was issued. The department may reinstate an…

2.59.713 ANNUAL FINANCIAL STATEMENT AND ESCROW ACTIVITIES REPORT AND DUE DATE The Montana Escrow Business Annual Financial Statement and Escrow Activities Report form, May 9, 2017, edition, is adopted and incorporated by reference. The form is available on the division's website,…

2.59.801 AUTHORITY, PURPOSE AND SCOPE: DEFINITIONS (REPEALED) Authorizing statute(s): 32-8-107, MCA Implementing statute(s): 32-8-107, 32-8-301, 32-8-302, 32-8-308, MCA History: NEW, 1997 MAR p. 2283, Eff. 12/16/97; TRANS, from Commerce, 2001 MAR p. 1178; REP, 2006 MAR p. 205, Ef…

2.59.802 ANNUAL REGULATION FEES (REPEALED) Authorizing statute(s): 32-8-107, MCA Implementing statute(s): 32-8-302, MCA History: NEW, 1997 MAR p. 2283, Eff. 12/16/97; TRANS, from Commerce, 2001 MAR p. 1178; REP, 2006 MAR p. 205, Eff. 1/27/06.

2.59.803 EXAMINATIONS (REPEALED) Authorizing statute(s): 32-8-107, 32-8-205, 32-8-301, MCA Implementing statute(s): 32-8-303, MCA History: NEW, 1997 MAR p. 2283, Eff. 12/16/97; TRANS, from Commerce, 2001 MAR p. 1178; REP, 2006 MAR p. 205, Eff. 1/27/06.

2.59.804 CRITERIA FOR KNOW-YOUR-CUSTOMER POLICY (REPEALED) Authorizing statute(s): 32-8-107, 32-8-301, MCA Implementing statute(s): 32-8-301, MCA History: NEW, 1997 MAR p. 2283, Eff. 12/16/97; TRANS, from Commerce, 2001 MAR p. 1178; REP, 2006 MAR p. 205, Eff. 1/27/06.

2.59.805 CRITERIA FOR ANTI-MONEY LAUNDERING COMPLIANCE (REPEALED) Authorizing statute(s): 32-8-107, 32-8-301, MCA Implementing statute(s): 32-8-301, 32-8-309, 32-8-314, 32-8-501, MCA History: NEW, 1997 MAR p. 2283, Eff. 12/16/97; TRANS, from Commerce, 2001 MAR p. 1178; REP, 2006 …

2.59.806 QUARTERLY AND ANNUAL REPORTS (REPEALED) Authorizing statute(s): 32-8-107, 32-8-301, MCA Implementing statute(s): 32-8-308, MCA History: NEW, 1997 MAR p. 2283, Eff. 12/16/97; TRANS, from Commerce, 2001 MAR p. 1178; REP, 2006 MAR p. 205, Eff. 1/27/06.

2.59.807 SUSPICIOUS ACTIVITY REPORTS (REPEALED) Authorizing statute(s): 32-8-107, 32-8-301, MCA Implementing statute(s): 32-8-301, 32-8-309, MCA History: NEW, 1997 MAR p. 2283, Eff. 12/16/97; TRANS, from Commerce, 2001 MAR p. 1178; REP, 2006 MAR p. 205, Eff. 1/27/06.

2.59.808 OTHER REPORTS REQUIRED (REPEALED) Authorizing statute(s): 32-8-107, 32-8-301, 32-8-308, MCA Implementing statute(s): 32-8-301, 32-8-308, 32-8-315, MCA History: NEW, 1997 MAR p. 2283, Eff. 12/16/97; TRANS, from Commerce, 2001 MAR p. 1178; REP, 2006 MAR p. 205, Eff. 1/27/0…

2.59.901 CHANGE OF LOCATION (REPEALED) Authorizing statute(s): 32-1-372, MCA Implementing statute(s): 32-1-372, MCA History: Eff. 12/6/73; TRANS & AMD, 1998 MAR p. 2480, Eff. 9/11/98; TRANS, from Commerce, 2001 MAR p. 1178; AMD, 2010 MAR p. 213, Eff. 1/29/10; AMD, 2016 MAR p. 232…

2.59.902 DEFINITIONS For purposes of this subchapter, the following definitions apply: "Consolidate" means a combination of two or more office locations within the same immediate neighborhood that does not substantially affect the nature of the business or customers served. For e…

2.59.903 LOAN PRODUCTION OFFICE A bank that desires to establish a new loan production office in this state must obtain prior approval from the department. A bank must file an application with the department prior to opening a loan production office using the Application to Estab…

2.59.904 BRANCH BANKS A bank organized under the laws of this state that is a qualifying institution, as set forth in (2), may establish a branch in Montana upon summary notice and approval by the department. The notice must be given using the Request for Summary Approval of Bran…

2.59.905 MONTANA BANKS BRANCHING OUTSIDE MONTANA In order for a bank organized under the laws of this state to request approval for a branch outside of Montana, the bank must submit copies of all required regulatory filings or notices required by the host state and federal agenci…

2.59.906 BANKS ORGANIZED OUTSIDE OF MONTANA BRANCHING INTO MONTANA Banks organized under the laws of a state other than Montana and national banks must submit copies of all required regulatory filings or notices required by the home state and federal agencies to the department an…

2.59.907 CLOSING OR RELOCATING A BRANCH BANK A Montana state-chartered bank that desires to relocate or close a branch temporarily or permanently must give notice to its customers using the Notice of Relocation of Bank Branch form, April 30, 2025, version, or Notice of Closure of…

2.59.908 TEMPORARY EMERGENCY CLOSURE OF BRANCH (REPEALED) (REPEALED) Authorizing statute(s): 32-1-211, 32-1-218, MCA Implementing statute(s): 32-1-211, 32-1-218, 32-1-561, 32-1-562, 32-1-563, 32-1-564, 32-1-565, MCA History: NEW, 2020 MAR p. 1698, Eff. 9/12/20; REP, 2025 MAR, Not…

2.59.909 EMERGENCY CLOSURE OF BRANCH (REPEALED) (REPEALED) Authorizing statute(s): 32-1-211, 32-1-218, MCA Implementing statute(s): 32-1-211, 32-1-218, 32-1-561, 32-1-562, 32-1-563, 32-1-564, 32-1-565, MCA History: NEW, 2020 MAR p. 1698, Eff. 9/12/20; REP, 2025 MAR, Notice No. 20…

2.59.910 LOAN PRODUCTION OFFICE ACTIVITIES A loan production office may conduct any of the following activities, which shall not, individually or collectively, cause the loan production office to be considered a branch, as defined in 32-1-109, MCA: solicit loans on behalf of the …