Montana Code 32-9-207. Corporate governance of servicers
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32-9-207. Corporate governance of servicers. Covered institutions shall establish and maintain corporate governance standards as set by the department by rule. The standards must include internal and external audits and risk management.
Terms Used In Montana Code 32-9-207
- Corporate governance: means the structure of an institution and how it is managed, including the corporate rules, policies, processes, and practices used to oversee and manage the institution. See Montana Code 32-9-201
- Department: means the department of administration provided for in 2-15-1001, acting through its division of banking and financial institutions. See Montana Code 32-9-201
- Risk management: means the policies and procedures designed to identify, measure, monitor, and mitigate risk sufficient for the level of sophistication of the servicer. See Montana Code 32-9-201