The provisions of 33-3-441 through 33-3-443 shall not apply to foreign or domestic arbitrage transactions unless made in contravention of such rules as the commissioner may adopt in order to carry out the purposes of 33-3-441 through 33-3-447.
Exemptions -- Arbitrage Transactions
Mont. Code Ann. § 33-3-445, under Finance.
Mont. Code Ann. § 33-3-445