EXAMINATION OF DEFERRED DEPOSIT LENDERS

(1) An examination of a licensee's lending operations conducted by the department to verify compliance with Title 31, chapter 1, part 7, MCA, and these rules, must consist of a comprehensive review of the records, operations, and affairs of the licensee. The review must include inquiry into: (a) accounting and financial records; (b) records of the borrowers' files including: (i) evidence of required disclosures; and (ii) use of a department-approved loan agreement form; and (c) assurance of continued capital adequacy and bonding. Authorizing statute(s): 31-1-702 , MCA Implementing statute(s): 31-1-711 , MCA History: NEW, 2000 MAR p. 71, Eff. 11/5/99; TRANS, from Commerce, 2001 MAR p. 1178; AMD, 2011 MAR p. 1365, Eff. 7/29/11.