HOUSE BILL NO. 154
INTRODUCED BY H. JACOBSON
BY REQUEST OF THE DEPARTMENT OF ADMINISTRATION
AN ACT ELIMINATING CERTAIN ANNUAL REPORTING REQUIREMENTS FOR CONSUMER LOAN BUSINESSES; AND AMENDING SECTION 32-5-308, MCA.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
Section 1. Section 32-5-308, MCA, is amended to read:
"32-5-308. Annual report. (1) A licensee shall file an annual report annually before April 15 file a report for the preceding calendar year with the department.
(2) The report shall give must provide information with respect to the financial condition of the licensee and shall must include:
(a) the name and address of the licensee;
(b) balance sheets at the beginning and end of the calendar year;
(c)(b) a statement of income and expenses;
(d) a reconciliation of surplus or net earnings with the balance sheets;
(e) a schedule of assets used in the consumer loan business;
(f)(c) an analysis of charges, size of loans made, and types of security on loans;
(g)(d) an analysis of suits and foreclosures; and
(h)(e) other relevant information the department may reasonably require concerning the business conducted during the preceding calendar year of for each licensed place of business conducted by of the licensee in this state.
(3) The report shall must be made under oath and be in a form prescribed by the department,. The department which shall publish annually an analysis and summary of the reports."
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