LOAN PRODUCTION OFFICE ACTIVITIES

(1) A loan production office may conduct any of the following activities, which shall not, individually or collectively, cause the loan production office to be considered a branch, as defined in 32-1-109 , MCA: (a) solicit loans on behalf of the bank or a branch of the bank; (b) assemble credit information; (c) make property inspections and appraisals; (d) secure title information; (e) prepare applications for loans, including making recommendations with respect to action; and (f) solicit investors to purchase loans from the bank and to contract with the bank for servicing of such loans. (2) A bank shall not accept deposits or loan payments, originate deposits or savings or checking accounts, approve loans, or disburse loan funds at a loan production office established pursuant to this rule. Authorizing statute(s): 32-1-211 , 32-1-218 , 32-1-222 , MCA Implementing statute(s): 32-1-109 , 32-1-222 , MCA History: NEW, 2021 MAR p. 328, Eff. 3/27/21.