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Rule Title: RECEIPT FORM
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Department: ADMINISTRATION
Chapter: BANKING AND FINANCIAL INSTITUTIONS
Subchapter: Consumer Loan Licensees
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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2.59.305    RECEIPT FORM

(1) Licensees shall give to the borrower or mail to the borrower's address a plain and complete receipt for each payment made.

(2) Licensees receipt forms shall contain the following minimum information:

(a) name of borrower;

(b) account number;

(c) amount and date of payment;

(d) past-due amount collected, if any;

(e) balance remaining on loan; and

(f) amount of refund.

(3) Licensees shall indelibly record on the borrower's loan card, or electronically maintain, as separate items the amount of each installment payment, refund, or collection. An electronic record must be capable of being reproduced in or converted to hard copy form.

History: 32-5-401, MCA; IMP, 32-5-304, 32-5-307, MCA; Eff. 12/31/72; TRANS, from Commerce, 2001 MAR p. 1178; AMD, 2014 MAR p. 498, Eff. 3/14/14.


 

 
MAR Notices Effective From Effective To History Notes
2-59-501 3/14/2014 Current History: 32-5-401, MCA; IMP, 32-5-304, 32-5-307, MCA; Eff. 12/31/72; TRANS, from Commerce, 2001 MAR p. 1178; AMD, 2014 MAR p. 498, Eff. 3/14/14.
12/31/1972 3/14/2014 History: 32-5-401, MCA; IMP, 32-5-401, MCA; Eff. 12/31/72; TRANS, from Commerce, 2001 MAR p. 1178.
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