(1) "Advertising" or "advertisement" means any written or oral statement or depiction that includes terms or availability of loans or that is designed to create interest in a consumer loan product and is conveyed in any manner or medium including but not limited to radio, television, telemarketing script and materials, on-hold script, upsell script, infomercials, the Internet, web pages, cellular network, film, slide, audio program transmitted over a telephone system, label, brochure, newspaper, magazine, pamphlet, leaflet, circular, mailer, letter, catalogue, poster, chart, billboard display, and promotional materials and items.
(2) A licensee shall maintain copies or images of all of the licensee's advertising as defined in (1) for a period of at least 12 months after the last date of the advertisement's use or until an examination of the licensee, including review of the advertising, has been accomplished by the department, whichever occurs first. Advertising may be maintained in an electronic format that is capable of being reproduced in or converted to hard copy form. All advertising copy records must have the following information noted thereon:
(a) the name or names of all advertising media used and the dates when the advertising publicly appeared; and
(b) the full text of audio and video advertising.
(3) A licensee may not use so-called blind advertisements as, for example, an advertisement giving only a telephone number, post office box or newspaper box number, or a name other than that of the licensee.
(4) A licensee may not use any advertising that is inconsistent with the Montana Unfair Trade Practices and Consumer Protection Act, Title 30, chapter 14, parts 1 and 2, MCA, or with federal laws including 15 USC 45(a)(1) or the rules promulgated thereunder.
(5) An unlicensed person may not directly or indirectly advertise terms or availability of consumer loans targeted at deriving profits from Montana markets. The prohibition against advertising by unlicensed persons is not dependent upon whether a loan application is submitted or whether a consumer loan is consummated as a result of the advertising. This section does not apply to media outlets and may not be construed to impose a duty on media outlets to verify licensure of advertisers.
History: 32-5-401, MCA; IMP, 32-5-309; MCA; Eff. 12/31/72; AMD, 1986 MAR p. 793, Eff. 5/16/86; AMD, 1992 MAR p. 137, Eff. 1/31/92; TRANS, from Commerce, 2001 MAR p. 1178; AMD, 2014 MAR p. 498, Eff. 3/14/14; AMD, 2016 MAR p. 2327, Eff. 12/10/16.