APPLICATION OF FINANCIAL STANDARDS

(1) Section 32-9-120 (1)(c) and 32-9-113 , MCA, require mortgage loan originators, as well as ultimate equity owners and control persons of entities, to meet financial responsibility standards. These persons are referenced in ARM 2.59.1739 through 2.59.1742 as "individuals." (2) Financial responsibility, character, and general fitness are continuing requirements for individuals and must be met at all times including upon initial licensure and renewal. Authorizing statute(s): 32-9-130 , MCA Implementing statute(s): 32-9-113 , 32-9-117 , 32-9-120 , MCA History: NEW, 2012 MAR p. 183, Eff. 1/27/12; AMD, 2017 MAR p. 1049, Eff. 7/8/17.