Terms Used In Montana Code > Title 2 > Chapter 18 - State Employee Classification, Compensation, and Benefits

• account: means an account established for the payment of qualified health care expenses under the plan. See Montana Code 2-18-1303
• Acquire: means :

  (a)the direct or indirect purchase or exchange of stock;

  (b)the direct or indirect purchase of assets and liabilities; or

  (c)a merger. See Montana Code 32-1-109

• Acquiring party: means the person acquiring control of a bank through the purchase of stock. See Montana Code 32-1-109
• Actual price: means the price paid by a motorsports dealer to a motorsports manufacturer for a motorsports product less any pecuniary benefit relating to a motorsports product paid or credited by the motorsports manufacturer to the motorsports dealer or the ultimate purchaser of the motorsports product. See Montana Code 30-14-2501
• Administrator: means the person who is responsible for the administration of service contracts. See Montana Code 30-14-1301
• Advertisement: means a commercial message in any medium that aids, promotes, or assists, directly or indirectly, a rental-purchase agreement but does not include price tags, window signs, or other in-store merchandising aids. See Montana Code 30-19-103
• Advertising: means a commercial message in any medium, including social media and software, that promotes, either directly or indirectly, a residential mortgage loan transaction. See Montana Code 32-9-103
• Advisory council: means the state employee group benefits advisory council provided for in 2-15-1016. See Montana Code 2-18-809
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Affidavit: means a sworn written declaration made before an officer authorized to administer oaths or an unsworn written declaration made under penalty of perjury as provided in 1-6-105. See Montana Code 1-1-203
• Affiliate: means a legal entity that shares common branding with another legal entity or controls, is controlled by, or is under common control with another legal entity. See Montana Code 30-14-2802
• Affiliate: has the meaning given in 12 U. See Montana Code 32-1-109
• Affiliate: means :

  (a)a person who directly or indirectly owns, controls, or holds with power to vote 20% or more of the outstanding voting securities of the debtor, other than a person who holds the securities:

  (i)as a fiduciary or agent without sole discretionary power to vote the securities; or

  (ii)solely to secure a debt if the person has not exercised the power to vote;

  (b)a corporation 20% or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote by the debtor or a person who directly or indirectly owns, controls, or holds with power to vote 20% or more of the outstanding voting securities of the debtor, other than a person who holds the securities:

  (i)as a fiduciary or agent without sole power to vote the securities; or

  (ii)solely to secure a debt if the person has not exercised the power to vote;

  (c)a person whose business is operated by the debtor under a lease or other agreement or a person substantially all of whose assets are controlled by the debtor; or

  (d)a person who operates the debtor's business under a lease or other agreement or controls substantially all of the debtor's assets. See Montana Code 31-2-328

• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Agency: has the meaning provided in 2-18-101 but does not include the Montana university system. See Montana Code 2-18-1202
• Agency head: means a director, commissioner, or constitutional officer in charge of an executive, legislative, or judicial branch agency or an agency of the Montana university system. See Montana Code 2-18-1101
• Agreement: means any writing that is substantially prepared in advance of a consumer transaction and which a seller, lessor, or lender furnishes to a consumer for the consumer to sign in connection with that transaction. See Montana Code 30-14-1102
• agreement: means an agreement between a lessor and a consumer that has the following characteristics:

  (a)the agreement governs the use of personal property by a person primarily for personal, family, or household purposes;

  (b)the agreement is entered into for an initial period of 4 months or less and is automatically renewable with each payment after the initial period;

  (c)the agreement does not obligate or require the consumer to continue renting or using the property beyond the initial period; and

  (d)the agreement permits the consumer to become the owner of the property. See Montana Code 30-19-103

• Allegation: something that someone says happened.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Ammunition components: means propellants, primers, and cartridge cases. See Montana Code 30-20-203
• Amortization: Paying off a loan by regular installments.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Application: means a request, in any form, for an offer of residential mortgage loan terms or a response to a solicitation of an offer of residential mortgage loan terms and includes the information about the borrower that is customary or necessary in a decision on whether to make such an offer. See Montana Code 32-9-103
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Approved test provider: means any test provider approved by the NMLS. See Montana Code 32-9-103
• Arrest: Taking physical custody of a person by lawful authority.
• Article of commerce: includes but is not limited to any commodity, product, service or output of a service trade, or any product of the soil. See Montana Code 30-14-202
• Asset: means property of a debtor, but the term does not include:

  (a)property to the extent it is encumbered by a valid lien;

  (b)property to the extent it is generally exempt under nonbankruptcy law; or

  (c)an interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant. See Montana Code 31-2-328

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Assumed business name: means any business name other than the full, true, and correct name of a person. See Montana Code 30-13-201
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Authenticate: means to use reasonable methods to determine that a request to exercise any of the rights afforded under 30-14-2808(1)(a) through (1)(e) is being made by, or on behalf of, the consumer who is entitled to exercise these consumer rights with respect to the personal data at issue. See Montana Code 30-14-2802
• bank: as used in this chapter means any corporation that has been incorporated to conduct the business of receiving money on deposit or transacting a trust or investment business, as defined in this chapter. See Montana Code 32-1-102
• Bank holding company: means a bank holding company or a financial holding company registered under the federal Bank Holding Company Act of 1956, as amended, regardless of where the entity is located or has its headquarters. See Montana Code 32-1-109
• banking institution: as used in this part shall be construed to mean any bank, trust company, bank and trust company, stock savings bank, or mutual savings bank, which is now or may hereafter be organized under the laws of this state. See Montana Code 32-1-601
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Bequest: Property gifted by will.
• Biological sample: means any human material known to contain DNA, including tissue, blood, urine, or saliva. See Montana Code 30-23-102
• Biometric data: means data generated by automatic measurements of an individual's biological characteristics, such as a fingerprint, a voiceprint, eye retinas, irises, or other unique biological patterns or characteristics that are used to identify a specific individual. See Montana Code 30-14-2802
• Black powder: means a propellant made from potassium or sodium nitrate, charcoal, and sulfur or a substitute for black powder made differently that is used for conventional small arms or antique or replica arms. See Montana Code 30-20-203
• Blind bidding: means bidding, negotiating, offering terms, making an invitation to bid, or agreeing to terms for the purpose of entering into a license agreement prior to a trade screening of the motion picture that is the subject of the agreement. See Montana Code 30-14-303
• Board member: means a member of the board of directors of the institution. See Montana Code 32-2-1201
• Board of review: means the body established to provide policy direction to the department of revenue in designing and recommending to the legislature the implementation of a plan for a business registration and licensing system. See Montana Code 30-16-103
• Bona fide not-for-profit entity: means an entity that:

  (a)maintains tax-exempt status under section 501(c)(3) or 501(c)(4) of the Internal Revenue Code, 26 U. See Montana Code 32-9-103

• Bona fide third party: means a person that provides services relative to the origination of a residential mortgage loan. See Montana Code 32-9-103
• Borrower: means a person seeking a residential mortgage loan or an obligor on a residential mortgage loan. See Montana Code 32-9-103
• Branch: means :

  (a)in the case of a bank, a banking house, other than the main banking house, maintained and operated by a bank doing business in the state and at which deposits are received, checks are paid, or money is lent. See Montana Code 32-1-109

• Branch office: means a location at which a licensee conducts business other than a licensee's principal place of business. See Montana Code 32-9-103
• Business: includes any person, domestic or foreign, engaged in the production, manufacture, distribution, purchasing, or sale of any article of commerce within the state of Montana. See Montana Code 30-14-202
• Business name identifier: means a word or words used by a business entity in its name or title that describes the type or form of its business. See Montana Code 30-13-201
• Buyer: means anyone who gives a consideration for the purchase or use of goods or services. See Montana Code 30-14-502
• Caller identification service: means a type of telephone service that permits telephone subscribers to see the telephone number of incoming telephone calls. See Montana Code 30-14-1601
• Capital: means , with respect to a mutual association:

  (a)retained earnings; or

  (b)at the discretion of the commissioner, any other form of capital, subject to any applicable federal and state laws. See Montana Code 32-2-603

• Cartridge cases: means the casings that contain and hold together the propellant, primer, and bullet, which may be formed from brass, aluminum, steel, plastic, or some combination of those or other materials. See Montana Code 30-20-203
• Cash price: means the price at which the lessor would have sold the property to the consumer for cash on the date of the rental-purchase agreement. See Montana Code 30-19-103
• Cease and desist order that has become final: means a cease and desist order or an order with respect to which:

  (a)a timely petition for review of the action has not been filed; or

  (b)the action of the court in which a petition for review has been filed is not subject to further review by the courts of the state. See Montana Code 32-2-1201

• Chambers: A judge's office.
• Child: means an individual under 13 years of age. See Montana Code 30-14-2802
• Claim: means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, legal, equitable, secured, or unsecured. See Montana Code 31-2-328
• Clerical or support duties: includes :

  (i)the receipt, collection, distribution, and analysis of information common for the processing or underwriting of a residential mortgage loan; and

  (ii)communicating with a consumer to obtain the information necessary for the processing or underwriting of a residential mortgage loan to the extent that the communication does not include offering or negotiating loan rates or terms or counseling consumers about residential mortgage loan rates or terms. See Montana Code 32-9-103

• Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
• Commercial context: means that an individual who acts as a mortgage loan originator does so for the purpose of obtaining profit for an entity or individual for which the individual acts, including a sole proprietorship or other entity that includes only the individual, rather than exclusively for public, charitable, or family purposes. See Montana Code 32-9-103
• Commissioner: means the commissioner of banking and financial institutions as provided in 32-1-211. See Montana Code 32-2-603
• Common association: means an association of employees established pursuant to 2-18-1310 for the purposes of employer and employee participation in the plan. See Montana Code 2-18-1303
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Community of interest: means a continuing financial interest that the grantor and grantee have in common. See Montana Code 30-11-801
• Community of interest: means a continuing financial interest that the grantor and grantee have in common. See Montana Code 30-11-901
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Confidential or proprietary information: means trade secrets as defined in 30-14-402 and includes business plans, marketing plans or strategies, customer lists, contracts, sales data, revenue, or other financial information. See Montana Code 30-14-2501
• Confidential supervisory information: means :

  (a)reports of examination, inspection, and visitation; nonpublic operating, condition, and compliance reports; supervisory letters; or similar documents, and any information contained in, derived from, used to create, or related to the documents;

  (b)any documents, materials, or records, including reports of examination, prepared by, or on behalf of, or for the use of the department or any state or federal financial services regulatory agency in the exercise of supervisory authority over a supervised entity, and any information derived from or used to prepare the documents, materials, or records;

  (c)any communications between the department and a supervised entity or a state or federal financial services regulatory agency related to the department's supervision of the entity;

  (d)any information received or generated by the department pursuant to 32-9-130;

  (e)confidential criminal justice information, as defined in 44-5-103;

  (f)personal information protected by an individual privacy interest; and

  (g)information that is exempt from disclosure pursuant to 12 U. See Montana Code 32-9-103

• Consent: means a clear affirmative act signifying a consumer's freely given, specific, informed, and unambiguous agreement to allow the processing of personal data relating to the consumer. See Montana Code 30-14-2802
• Construction equipment: means any vehicle, machine, or attachment designed or adapted and used in construction, heavy construction, highway construction, and remodeling work. See Montana Code 30-11-901
• Consumer: means an individual who borrows money or leases or obtains property or services under a written agreement. See Montana Code 30-14-1102
• Consumer: means a person:

  (a)who purchases a wheelchair from a wheelchair dealer or manufacturer for purposes other than resale;

  (b)to whom the wheelchair is transferred for purposes other than resale if the transfer occurred before the expiration of an express warranty applicable to the wheelchair;

  (c)who may enforce the warranty; or

  (d)who leases a wheelchair from a wheelchair lessor under a written lease. See Montana Code 30-14-1202

• Consumer: means an individual who, singly or jointly with another individual, owes money to one or more creditors for personal, family, or household purposes. See Montana Code 30-14-2003
• Consumer: means an individual who is a resident of this state. See Montana Code 30-14-2802
• Consumer: means a person who rents personal property under a rental-purchase agreement to be used primarily for personal, family, or household purposes. See Montana Code 30-19-103
• Consumer: means an individual who is a resident of this state. See Montana Code 30-23-102
• Consumer: means a person who purchases or leases goods, services, real property, or information primarily for personal, family, or household purposes. See Montana Code 30-14-102
• Consumer contract: means an agreement for the sale, lease, or loan of money, property, or services primarily for personal, family, or household purposes. See Montana Code 30-14-1102
• Consummation: means the time that a consumer becomes contractually obligated by signing a rental-purchase agreement. See Montana Code 30-19-103
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• contract holder: means the person who is the purchaser or holder of a service contract. See Montana Code 30-14-1301
• Contracting employer: means an employer who, pursuant to 2-18-1310, has contracted with the department to participate in the plan. See Montana Code 2-18-1303
• Control: means :

  (a)ownership of, authority over, or power to vote, directly or indirectly, 25% or more of any class of voting security;

  (b)authority in any manner over the election of a majority of directors; or

  (c)power to exercise, directly or indirectly, a controlling influence over management and policies. See Montana Code 32-1-109

• Control: means the power, directly or indirectly, to direct the management or policies of an entity, whether through ownership of securities, by contract, or otherwise. See Montana Code 32-9-103
• controlled: means :

  (a)ownership of or the power to vote more than 50% of the outstanding shares of any class of voting security of a company;

  (b)control in any manner over the election of a majority of the directors or of individuals exercising similar functions; or

  (c)the power to exercise controlling influence over the management of a company. See Montana Code 30-14-2802

• Controller: means an individual who or legal entity that, alone or jointly with others, determines the purpose and means of processing personal data. See Montana Code 30-14-2802
• controlling: means :

  (a)the possession of, title to, or control of 10% or more of the voting equity interest in a person, whether directly or indirectly through a fiduciary, agent, or other intermediary; or

  (b)the possession, direct or indirect, of the power to direct or cause the direction of the management or policies of a person, whether through the ownership of voting securities, through director control, by contract, or otherwise. See Montana Code 30-14-2501

• Conviction: A judgement of guilt against a criminal defendant.
• 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
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Covered institution: means a nonbank servicer:

  (a)with servicing portfolios of 2,000 or more 1- to 4-unit residential mortgage loans serviced or subserviced for others, excluding whole loans owned, and loans being interim serviced prior to sale as of the most recent calendar year end, reported in the NMLS mortgage call report; and

  (b)that operates in two or more states, districts, or territories of the United States either currently or as of the prior calendar year end. See Montana Code 32-9-201

• Credit counseling service: means a person that provides or offers to provide debt management plan services to consumers for consideration. See Montana Code 30-14-2003
• Credit counselor: means a person who is an employee or agent of a credit counseling service and who designs debt management plans and provides consumers with budget, basic financial planning, and consumer education services. See Montana Code 30-14-2003
• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. ^{Source: OCC}
• Creditor: means a person who has a claim. See Montana Code 31-2-328
• Current net price: means :

  (a)with respect to a dealership contract, the price listed in the wholesaler's, manufacturer's, or distributor's price list or catalog in effect at the time a dealership contract is discontinued or, if none is then in effect, the last available price so listed; and

  (b)with respect to a distribution contract, the price listed in the manufacturer's or distributor's price list or catalog in effect at the time a distribution contract is discontinued or, if none is then in effect, the last available price so listed. See Montana Code 30-11-701

• Customary: means according to usage. See Montana Code 1-1-206
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• De-identified data: means data that cannot be used to reasonably infer information about or otherwise be linked to an identified or identifiable individual or a device linked to the individual if the controller that possesses the data:

  (a)takes reasonable measures to ensure that the data cannot be associated with an individual;

  (b)publicly commits to process the data in a de-identified fashion only and to not attempt to re-identify the data; and

  (c)contractually obligates any recipients of the data to satisfy the criteria set forth in subsections (11)(a) and (11)(b). See Montana Code 30-14-2802

• Dealer: means a person who is a grantee of a farm implements dealership situated in this state. See Montana Code 30-11-801
• Dealer: means a person who is a grantee of a construction equipment dealership situated in this state. See Montana Code 30-11-901
• Dealership: means a contract or agreement, expressed or implied, whether oral or written, including a franchise as defined in 61-4-201, by which a person is granted the right to sell or distribute farm implements, in which there is a community of interest in the business of offering, selling, or distributing farm implements. See Montana Code 30-11-801
• Dealership: means a contract or agreement, expressed or implied, whether oral or written, including a franchise as defined in 61-4-201, by which a person is granted the right to sell or distribute construction equipment, in which there is a community of interest in the business of offering, selling, or distributing construction equipment. See Montana Code 30-11-901
• Dealership contract: means a written contract between a retailer and a wholesaler, manufacturer, or distributor in which the retailer becomes a dealer in goods sold by the wholesaler, manufacturer, or distributor, evidenced by a franchise agreement, sales agreement, security agreement, or other similar agreement or arrangement. See Montana Code 30-11-701
• Debt: means liability on a claim. See Montana Code 31-2-328
• Debt management plan: means a written agreement under which a credit counseling service is to receive money from a consumer for the purpose of distributing that money to one or more creditors of the consumer as full or partial payment of the consumer's obligation to the creditor or creditors. See Montana Code 30-14-2003
• Debt settlement provider: means any person or entity engaging in or holding itself out as engaging in the business of debt settlement for compensation that does not in the usual and regular course of business hold, receive, or disburse a debtor's funds in connection with debt settlement services. See Montana Code 30-14-2101
• Debtor: means a person who is liable on a claim. See Montana Code 31-2-328
• Decedent: A deceased person.
• Decisions that produce legal or similarly significant effects concerning the consumer: means decisions made by the controller that result in the provision or denial by the controller of financial or lending services, housing, insurance, education enrollment or opportunity, criminal justice, employment opportunities, health care services, or access to necessities such as food and water. See Montana Code 30-14-2802
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Demand deposits: means all deposits, the payment of which can legally be required when demanded. See Montana Code 32-1-109
• Department: means the department of justice provided for in 2-15-2001. See Montana Code 30-14-1301
• Department: means the department of justice provided for in 2-15-2001. See Montana Code 30-14-1601
• Department: means the department of justice provided for in 2-15-2001. See Montana Code 30-14-2003
• Department: means the department of justice created in 2-15-2001. See Montana Code 30-14-2501
• Department: means the department of revenue established in 2-15-1301. See Montana Code 30-16-103
• Department: means the department of administration provided for in Title 2, chapter 15, part 10. See Montana Code 32-1-109
• Department: means the department of administration provided for in 2-15-1001. See Montana Code 32-2-603
• Department: means the department of administration. See Montana Code 32-6-103
• Department: means the department of administration as provided for in Title 2, chapter 15, part 10. See Montana Code 32-7-102
• Department: means the department of administration provided for in 2-15-1001. See Montana Code 2-18-809
• Department: means the department of administration provided for in 2-15-1001. See Montana Code 2-18-1101
• Department: means the department of administration provided for in 2-15-1001, acting through its division of banking and financial institutions. See Montana Code 32-9-103
• Department: means the department of administration established in 2-15-1001. See Montana Code 2-18-1303
• Department: means the department of labor and industry established in 2-15-1701. See Montana Code 30-11-801
• 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
• Department: means the department of labor and industry established in 2-15-1701. See Montana Code 30-11-901
• Department: means the department of justice created in 2-15-2001. See Montana Code 30-14-102
• Department: means the department of justice provided for in 2-15-2001. See Montana Code 30-14-202
• Dependent: A person dependent for support upon another.
• Dependent: has the meaning provided in 33-22-140. See Montana Code 2-18-701
• Dependent: means the tax-qualified dependent or child of the participant as determined under section 105(b) of the Internal Revenue Code, 26 U. See Montana Code 2-18-1303
• Deposit: has the meaning provided in 12 C. See Montana Code 32-2-603
• Depository institution: means a bank or savings association organized under the laws of a state or the United States. See Montana Code 32-1-109
• Depository institution: has the meaning provided in section 3 of the Federal Deposit Insurance Act, 12 U. See Montana Code 32-9-103
• Designated family member: means the spouse, child, grandchild, parent, brother, or sister of a dealer. See Montana Code 30-11-801
• Designated family member: means the spouse, child, grandchild, parent, brother, or sister of a dealer. See Montana Code 30-11-901
• Designated manager: means a mortgage loan originator with at least 3 years of experience as a mortgage loan originator or registered mortgage loan originator who is designated by an entity as the individual responsible for the operation of a particular location that is under the designated manager's full management, supervision, and control. See Montana Code 32-9-103
• Designated successor: means a person designated in writing by the retiring dealer to succeed the retiring dealer in the dealership or, in the case of an incapacitated dealer, a person appointed by a court as the legal representative of the dealer's property or the appointed and qualified personal representative and the testamentary trustee of a deceased dealer. See Montana Code 30-11-801
• Designated successor: means a person designated in writing by the retiring dealer to succeed in the dealership or, in the case of an incapacitated dealer, a person appointed by a court as the legal representative of the dealer's property or the appointed and qualified personal representative and the testamentary trustee of a deceased dealer. See Montana Code 30-11-901
• Devise: To gift property by will.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Distribution contract: means a written contract between a wholesaler and a manufacturer or distributor in which the wholesaler becomes a dealer in goods sold by the manufacturer or distributor, evidenced by a franchise agreement, sales agreement, security agreement, or other similar agreement or arrangement. See Montana Code 30-11-701
• Distributor: means any person engaged in the business of renting, selling, or licensing motion pictures to exhibitors. See Montana Code 30-14-303
• Division: means the division of banking and financial institutions of the department. See Montana Code 32-1-109
• Division: means the division of banking and financial institutions of the department. See Montana Code 32-2-603
• DNA: means deoxyribonucleic acid. See Montana Code 30-23-102
• Documentary material: means the original or a copy of any book, record, report, memorandum, paper, communication, tabulation, map, chart, photograph, mechanical transcription, or other tangible document or recording. See Montana Code 30-14-102
• Doing business in this state: means located in this state or having a physical branch bank location in this state. See Montana Code 32-1-109
• Dwelling: has the meaning provided in 15 U. See Montana Code 32-9-103
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Electronic funds transfer: means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument that is initiated through an electronic terminal, telephone, computer, or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit an account. See Montana Code 32-6-103
• Electronic terminal: means an electronic device, other than a telephone operated by a consumer, through which a consumer may initiate an electronic funds transfer. See Montana Code 32-6-103
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• Employee: means an employee of the executive, legislative, or judicial branch or the Montana university system. See Montana Code 2-18-1101
• Employee: means a person employed by the state who has achieved permanent status, as defined in 2-18-101, or officers and employees of the legislative branch and teachers under the authority of the department of corrections or department of public health and human services who have been employed for at least 6 continuous months. See Montana Code 2-18-1202
• Employee: means a person employed by an employer. See Montana Code 2-18-1303
• Employer: means a legally constituted department, board, commission, or any other administrative unit of state government, a county, an incorporated city or town, or any other political subdivision of the state, including a school district, or a unit of the university system. See Montana Code 2-18-1303
• Enrollee: means the individual to whom a health care service is provided or will be provided under a health plan. See Montana Code 33-1-801
• Entity: means a partnership, corporation, association, or public or private organization of any character that:

  (a)offers consumer genetic testing products or services directly to a consumer; or

  (b)collects, uses, or analyzes genetic data. See Montana Code 30-23-102

• Entity: means a business organization, including a sole proprietorship. See Montana Code 32-9-103
• Equal Credit Opportunity Act: Prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, or because an applicant receives income from a public assistance program. ^{Source: OCC}
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Escrow: means any transaction in which one person, for the purpose of effecting the sale, transfer, encumbrance, or lease of real or personal property to another person or for the purpose of making payments under any encumbrance of the property, delivers any written instrument, money, evidence, title to real or personal property, or other thing of value to a third person to be held by that third person until the happening of a specified event or the performance of a prescribed condition, when the instrument, money, evidence, title, or thing of value is to be delivered by the third person to a grantee, grantor, promisee, promisor, obligee, obligor, bailee, or bailor or to any agents or employees pursuant to the written escrow instructions. See Montana Code 32-7-102
• Escrow account: means a depository account with a financial institution that provides deposit insurance and that is separate and distinct from any personal, business, or other account of the mortgage lender or mortgage servicer and is maintained solely for the holding and payment of escrow funds. See Montana Code 32-9-103
• Escrow business: means a commercial activity characterized by the regular and continuous carrying on of escrow transactions. See Montana Code 32-7-102
• Escrow funds: means funds entrusted to a mortgage lender or mortgage servicer by a borrower for payment of taxes, insurance, or other payments to be made in connection with the servicing of a loan. See Montana Code 32-9-103
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Ex officio: Literally, by virtue of one's office.
• Executor: A male person named in a will to carry out the decedent
• Exhibitor: means any person engaged in the business of operating a theater in this state. See Montana Code 30-14-303
• Express consent: means a consumer's affirmative response to a clear, meaningful, and prominent notice regarding the collection, use, or disclosure of genetic data for a specific purpose. See Montana Code 30-23-102
• Expungement: means a court-ordered process that involves the destruction of documentation related to past arrests and convictions. See Montana Code 32-9-103
• Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
• Fair Debt Collection Practices Act: The Fair Debt Collection Practices Act is a set of United States statutes added as Title VIII of the Consumer Credit Protection Act. Its purpose is to ensure ethical practices in the collection of consumer debts and to provide consumers with an avenue for disputing and obtaining validation of debt information in order to ensure the information's accuracy. It is often used in conjunction with the Fair Credit Reporting Act. ^{Source: OCC}
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Federal banking agency: means the board of governors of the federal reserve system, the comptroller of the currency, the national credit union administration, or the federal deposit insurance corporation. See Montana Code 32-9-103
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Federal question: Jurisdiction given to federal courts in cases involving the interpretation and application of the U.S. Constitution, acts of Congress, and treaties.
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Federal savings association: means a federal savings and loan association or a federal savings bank doing business under authority granted by the office of the comptroller of the currency or the former office of thrift supervision. See Montana Code 32-2-603
• Female: means a member of the human species who, under normal development, has XX chromosomes and produces or would produce relatively large, relatively immobile gametes, or eggs, during her life cycle and has a reproductive and endocrine system oriented around the production of those gametes. See Montana Code 1-1-201
• Fiduciary: A trustee, executor, or administrator.
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• Financial institution: means a bank chartered under chapter 1 of this title, a bank chartered under the National Banking Acts in Title 12 of the United States Code, a building and loan association chartered under chapter 2 of this title, a savings and loan association chartered under the Home Owners' Loan Act in Title 12 of the United States Code, a credit union chartered under chapter 3 of this title, or a credit union chartered under the Federal Credit Union Act in Title 12 of the United States Code. See Montana Code 32-6-103
• Firearms accessories: means items that are used in conjunction with or mounted upon a firearm but are not essential to the basic function of a firearm, including but not limited to telescopic or laser sights, magazines, flash or sound suppressors, folding or aftermarket stocks and grips, speedloaders, ammunition carriers, and lights for target illumination. See Montana Code 30-20-103
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fleet: means a group of 15 or more new motorsports vehicles that are sold or leased by a motorsports dealer at one time under a single purchase or lease agreement for use as part of a fleet. See Montana Code 30-14-2501
• Flexible spending account: means a funding and accounting arrangement allowed by federal law that:

  (a)gives a state employee a choice between receiving taxable salary or having a part of the employee's salary withheld; and

  (b)provides for depositing any portion of the state employee's salary withheld and any employer contribution designated by the employee into an account and receiving from that account nontaxable reimbursement for certain out-of-pocket medical expenses of the state employee or a dependent of the employee. See Montana Code 2-18-809

• Forbearance: A means of handling a delinquent loan. A
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. ^{Source: OCC}
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• Generic and insignificant parts: includes but is not limited to springs, screws, nuts, and pins. See Montana Code 30-20-103
• Genetic data: means any data, regardless of format, concerning a consumer's genetic characteristics. See Montana Code 30-23-102
• Genetic testing: means :

  (a)a laboratory test of a consumer's complete DNA, regions of DNA, chromosomes, genes, or gene products to determine the presence of genetic characteristics of a consumer; or

  (b)an interpretation of a consumer's genetic data. See Montana Code 30-23-102

• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Gift certificate: means a record, including a gift card or stored value card, that is provided for paid consideration and that indicates a promise by the issuer or seller of the record that goods or services will be provided to the possessor of the record for the value that is shown on the record or contained within the record by means of a microprocessor chip, magnetic stripe, bar code, or other electronic information storage device. See Montana Code 30-14-102
• Good cause: when used in Montana Code 30-11-801
• Good cause: when used in 30-11-902, 30-11-903, and 30-11-909, means:

  (i)failure by a dealer to comply substantially with essential and reasonable requirements imposed upon the dealer by the grantor or sought to be imposed by the grantor, which requirements are not discriminatory as compared with requirements imposed on other similarly situated dealers either by the terms of the requirements or in the manner of their enforcement; or

  (ii)bad faith by the dealer in carrying out the terms of the dealership. See Montana Code 30-11-901

• Governmental agency: means an executive, legislative, or judicial agency, department, board, commission, authority, institution, or instrumentality of the federal government or of a state or of a county, municipality, or other political subdivision of a state. See Montana Code 30-23-102
• Grantor: The person who establishes a trust and places property into it.
• Grantor: means a person who grants a dealership. See Montana Code 30-11-801
• Grantor: means a person who grants a dealership. See Montana Code 30-11-901
• Group benefits: means group hospitalization, health, medical, surgical, disability, life, and other similar and related group benefits provided to officers and employees of the state, including flexible spending account benefits. See Montana Code 2-18-809
• Group or team of employees: means a group, team, or work unit of employees working cooperatively. See Montana Code 2-18-1101
• GSE: means government-sponsored enterprises, the federal national mortgage association, or the federal home loan mortgage corporation. See Montana Code 32-9-201
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Headquarters: means the state in which the activities of a bank holding company or a company controlling the bank holding company are principally conducted within the meaning of the federal Bank Holding Company Act of 1956, as amended. See Montana Code 32-1-109
• health benefit plan: means a policy, contract, certificate, or agreement entered into, offered, or issued by a health carrier to provide, deliver, arrange for, pay for, or reimburse any of the costs of health care services. See Montana Code 33-1-801
• Health carrier: means an entity that is subject to the insurance laws and rules of this state and that contracts, offers to contract, or enters into an agreement to provide, deliver, arrange for, pay for, or reimburse any of the costs of health care services. See Montana Code 33-1-801
• Housing finance agency: includes the Montana board of housing provided for in 2-15-1814. See Montana Code 32-9-103
• Identified or identifiable individual: means an individual who can be readily identified, directly or indirectly. See Montana Code 30-14-2802
• Improper means: includes theft, bribery, misrepresentation, breach or inducement of a breach of a duty to maintain secrecy, or espionage through electronic or other means. See Montana Code 30-14-402
• Incidental costs: means expenses specified in a vehicle theft protection product warranty that are incurred by the vehicle theft protection product warranty holder due to the failure of a vehicle theft protection product to perform as provided in the contract. See Montana Code 30-14-1301
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Independent contractor: means an individual who performs duties other than at the direction of and subject to the supervision and instruction of another individual who is licensed and registered in accordance with this part or who is not required to be licensed in accordance with 32-9-104(1)(b), (1)(d), or (1)(g). See Montana Code 32-9-103
• Independent contractor entity: means an entity that offers or provides clerical or support duties for another person. See Montana Code 32-9-103
• Indian: means a person who is enrolled or who is a lineal descendant of one enrolled upon an enrollment listing of the bureau of Indian affairs or upon the enrollment listing of a recognized Indian tribe, domiciled in the United States. See Montana Code 30-14-601
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Individual: means a natural person. See Montana Code 32-9-103
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insider: includes :

  (a)if the debtor is an individual:

  (i)a relative of the debtor or of a general partner of the debtor;

  (ii)a partnership in which the debtor is a general partner;

  (iii)a general partner in a partnership described in subsection (7)(a)(ii); or

  (iv)a corporation of which the debtor is a director, officer, or person in control;

  (b)if the debtor is a corporation:

  (i)a director of the debtor;

  (ii)an officer of the debtor;

  (iii)a person in control of the debtor;

  (iv)a partnership in which the debtor is a general partner;

  (v)a general partner in a partnership described in subsection (7)(b)(iv); or

  (vi)a relative of a general partner, director, officer, or person in control of the debtor;

  (c)if the debtor is a partnership:

  (i)a general partner in the debtor;

  (ii)a relative of a general partner in, a general partner of, or a person in control of the debtor;

  (iii)another partnership in which the debtor is a general partner;

  (iv)a general partner in a partnership described in subsection (7)(c)(iii); or

  (v)a person in control of the debtor;

  (d)an affiliate or an insider of an affiliate as if the affiliate were the debtor; and

  (e)a managing agent of the debtor. See Montana Code 31-2-328

• Institution: means a state mutual association. See Montana Code 32-2-1201
• Insured depository institution: means a bank or savings association in which the deposits are insured by the federal deposit insurance corporation. See Montana Code 32-2-603
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Interim serviced prior to sale: means the activity of collecting a limited number of contractual mortgage payments immediately after origination on loans held for sale but prior to the loans being sold into the secondary market. See Montana Code 32-9-201
• Inventory: means :

  (a)farm implements, machinery, attachments, and repair parts;

  (b)industrial and construction equipment and repair parts;

  (c)new motor vehicles, trucks, trailers, semitrailers, pole trailers, travel trailers, and repair parts sold by a dealer as defined in 61-1-101;

  (d)motorcycles, motor-driven cycles, recreational vehicles, and quadricycles, as those terms are defined in 61-1-101, and repair parts;

  (e)snowmobiles, as defined in 23-2-601, and repair parts;

  (f)off-highway vehicles, as defined in 23-2-801, and repair parts; and

  (g)vessels, as defined in 23-2-502, detachable motors or engines used to propel vessels, and repair parts. See Montana Code 30-11-701

• Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
• Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Juror: A person who is on the jury.
• Knowingly: means only a knowledge that the facts exist which bring the act or omission within the provisions of this code. See Montana Code 1-1-204
• Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
• Lessor: means a person who regularly provides the use of property through rental-purchase agreements and to whom rent payments are initially payable on the face of the rental-purchase agreement. See Montana Code 30-19-103
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• License: means the whole or part of any agency permit, license, certificate, approval, registration, or charter or any form or permission required by law or administrative rule to engage in any retail, wholesale, consumer service, manufacturing, or distributing activity, including the production of energy using an alternative renewable energy source as defined in 15-6-225. See Montana Code 30-16-103
• License agreement: means any contract between a distributor and an exhibitor for the exhibition of a motion picture by the exhibitor in this state. See Montana Code 30-14-303
• Licensee: means a person holding a valid license under this part as an escrow business. See Montana Code 32-7-102
• Licensee: means a person authorized pursuant to this part to engage in activities regulated by this part. See Montana Code 32-9-103
• Lien: A claim against real or personal property in satisfaction of a debt.
• Lien: means a charge against or an interest in property to secure payment of a debt or performance of an obligation and includes a security interest created by agreement, a judicial lien obtained by legal or equitable process or proceedings, a common-law lien, or a statutory lien. See Montana Code 31-2-328
• Lineal descendant: Direct descendant of the same ancestors.
• liquidity: means the financial resources necessary to manage liquidity risk arising from servicing functions required in acquiring and financing mortgage servicing rights, hedging costs, including margin calls, associated with the mortgage servicing rights asset and financing facilities, and advances or costs of advance financing for principal, interest, taxes, insurance, and any other servicing related advances. See Montana Code 32-9-201
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Loan commitment: means a statement transmitted in writing or electronically by a mortgage lender setting forth the terms and conditions upon which the mortgage lender is willing to make a particular residential mortgage loan to a particular borrower. See Montana Code 32-9-103
• Loan processor or underwriter: means an individual who, with respect to the origination of a residential mortgage loan, performs clerical or support duties as an employee at the direction of and subject to the supervision of a licensed mortgage loan originator or registered mortgage loan originator. See Montana Code 32-9-103
• Loan production office: means a staffed facility, other than a branch, that provides lending-related services to the public, including loan information and applications. See Montana Code 32-1-109
• Located in this state: means :

  (a)in the case of a bank, that the bank is either organized under the laws of this state or is a federally chartered bank whose organizational certificate identifies an address in this state as the principal place at which the business of the federally chartered bank is conducted; and

  (b)in the case of a bank holding company, that the entity, partnership, or trust is organized under the laws of this state. See Montana Code 32-1-109

• Main banking house: means the designated principal place of business of a bank. See Montana Code 32-1-109
• Managed care organization: means an entity that manages, owns, contracts with, or employs health care providers to provide health care services under a health plan. See Montana Code 33-1-801
• Manufactured: means that a firearm, a firearm accessory, or ammunition has been created from basic materials for functional usefulness, including but not limited to forging, casting, machining, or other processes for working materials. See Montana Code 30-20-103
• Manufacturer: means a person or an agent of a person who manufactures or assembles wheelchairs. See Montana Code 30-14-1202
• Market area: means either a city in Montana or a city in any of the 11 western states that prohibits blind bidding. See Montana Code 30-14-303
• Medical communication: means :

  (a)a communication made by a health care provider to an enrollee or to the guardian or other legal representative of an enrollee receiving health care services from the provider:

  (i)concerning the mental or physical health care needs or treatment of the enrollee and the provisions, terms, or requirements of the health plan or another health plan relating to the needs or treatment of the enrollee; and

  (ii)including a communication concerning:

  (A)a test, consultation, or treatment option and a risk or benefit associated with the test, consultation, or option;

  (B)variation among health care providers and health care facilities, as defined in 50-5-101, in experience, quality of health care services, or health outcomes;

  (C)the basis or standard for the decision of the enrollee's health carrier or managed care organization to authorize or deny a health care service;

  (D)the process used by the enrollee's health carrier or managed care organization to determine whether to authorize or deny a health care service; or

  (E)a financial incentive or disincentive provided by the enrollee's health carrier or managed care organization to a health care provider to authorize or deny a health care service;

  (b)a communication made by a health care provider to another health care provider, an employee or contractor of the enrollee's managed care organization, or an employee of the health carrier advocating a particular method of treatment on behalf of an enrollee. See Montana Code 33-1-801

• Member: means all holders of the mutual association's savings, demand, including other authorized members on accounts. See Montana Code 32-2-603
• Member: means an employee whose work unit voted to establish a common association. See Montana Code 2-18-1303
• Merchant: means a natural person, corporation, partnership, or association engaged in buying and selling goods or services, except that a financial institution is not a merchant. See Montana Code 32-6-103
• Minority leader: See Floor Leaders
• Minority leader: means the leader of the minority party, elected by the caucus as provided in 5-2-221. See Montana Code 1-1-208
• Misappropriation: means :

  (a)acquisition of a trade secret of another by a person who knows or has reason to know that the trade secret was acquired by improper means; or

  (b)disclosure or use of a trade secret of another without express or implied consent by a person who:

  (i)used improper means to acquire knowledge of the trade secret;

  (ii)at the time of disclosure or use, knew or had reason to know that the person's knowledge of the trade secret was:

  (A)derived from or through a person who had used improper means to acquire it;

  (B)acquired under circumstances giving rise to a duty to maintain its secrecy or limit its use; or

  (C)derived from or through a person who owed a duty to the person seeking relief to maintain its secrecy or limit its use; or

  (iii)before a material change of the person's position, knew or had reason to know that it was a trade secret and that knowledge of it had been acquired by accident or mistake. See Montana Code 30-14-402

• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage: means a consensual interest in real property located in Montana, including improvements, securing a debt evidenced by a mortgage, trust indenture, deed of trust, or other lien on real property. See Montana Code 32-9-103
• Mortgage broker: means an entity that obtains, attempts to obtain, or assists in obtaining a mortgage loan for a borrower from a mortgage lender in return for consideration or in anticipation of consideration or holds itself out as being able to assist a person in obtaining a mortgage loan. See Montana Code 32-9-103
• Mortgage call report: means the quarterly or annual report of residential real estate loan origination, servicing, and financial information completed by companies licensed in NMLS. See Montana Code 32-9-201
• Mortgage lender: means an entity that closes a residential mortgage loan, advances funds, offers to advance funds, commits to advancing funds for a mortgage loan applicant, or holds itself out as being able to perform any of those functions. See Montana Code 32-9-103
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgage loan originator: means an individual who for compensation or gain or in the expectation of compensation or gain:

  (i)takes a residential mortgage loan application; or

  (ii)offers or negotiates terms of a residential mortgage loan. See Montana Code 32-9-103

• Mortgage servicer: means an entity that:

  (a)for forward mortgages:

  (i)engages, for compensation or gain from another or on its own behalf, in the business of receiving any scheduled periodic payment from a borrower pursuant to the terms of a residential mortgage loan, residential mortgage servicing documents, or a residential mortgage servicing contract;

  (ii)meets the definition of servicer in 12 U. See Montana Code 32-9-103

• Mortgage servicing rights: means the contractual right to service residential mortgage loans on behalf of the owner of the associated mortgage in exchange for specified compensation in accordance with the servicing contract. See Montana Code 32-9-201
• Mortgage servicing rights investor: means entities that invest in and own mortgage servicing rights and rely on subservicers to administer the loans on their behalf. See Montana Code 32-9-201
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Motorsports dealer: means a new motor vehicle dealer as defined in 61-4-201 who sells motorsports vehicles. See Montana Code 30-14-2501
• Motorsports manufacturer: means a manufacturer, distributor, distributor branch, factory branch, or importer, as those terms are defined in 61-4-201, who sells motorsports vehicles to motorsports dealers within this state. See Montana Code 30-14-2501
• Motorsports vehicle: means a personal watercraft as defined in 23-2-502, a snowmobile as defined in 23-2-601, a motorcycle as defined in 61-1-101, a motor-driven cycle as defined in 61-1-101, an off-highway vehicle as defined in 61-1-101, or a quadricycle as defined in 61-1-101. See Montana Code 30-14-2501
• Mutual association: means any corporation that has been incorporated to conduct the business of receiving money on deposit from its members and making substantially all of its loans on one-to-four family real estate mortgage security. See Montana Code 32-2-603
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) ^{Source: OCC}
• Net cost: means :

  (a)with respect to a dealership contract, the price actually paid for an inventory item by the retailer to the wholesaler, manufacturer, or distributor, plus applicable freight costs paid by or charged to the retailer; and

  (b)with respect to a distribution contract, the price actually paid for an inventory item by the wholesaler to a manufacturer or distributor, plus applicable freight costs paid by or charged to the wholesaler. See Montana Code 30-11-701

• Net earnings: means the excess of the gross earnings of a bank over expenses and losses chargeable against those earnings during any 1 year. See Montana Code 32-1-109
• NMLS: means a licensing system developed and maintained by the conference of state bank supervisors and the American association of residential mortgage regulators for the registration and licensing of persons providing nondepository financial services. See Montana Code 32-9-103
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Nonconformity: means a defect that substantially impairs the use, value, or safety of a wheelchair or that is covered by an express warranty applicable to the wheelchair or to components of a wheelchair. See Montana Code 30-14-1202
• Nontraditional mortgage product: means any mortgage product other than a 30-year, fixed-rate mortgage. See Montana Code 32-9-103
• Oath: includes an affirmation or declaration. See Montana Code 1-1-201
• Oath: A promise to tell the truth.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Operate: means to manage a motorsports dealership, whether directly or indirectly. See Montana Code 30-14-2501
• Operating liquidity: means the funds necessary to perform normal business operations, such as payment of rent, salaries, interest expense, and other typical expenses associated with operating the entity. See Montana Code 32-9-201
• origination of a residential mortgage loan: means all activities related to a residential mortgage loan from the taking of a residential mortgage loan application through the completion of all required loan closing documents and funding of the residential mortgage loan. See Montana Code 32-9-103
• overhead expense: includes all costs of doing business incurred in the conduct of a business and includes but is not limited to the following items of expense:

  (a)labor (including salaries of executives and officers);

  (b)rent;

  (c)interest on borrowed capital;

  (d)depreciation;

  (e)selling cost;

  (f)maintenance of equipment;

  (g)delivery costs;

  (h)credit losses;

  (i)all types of licenses;

  (j)taxes;

  (k)insurance and advertising. See Montana Code 30-14-202

• Oversight: Committee review of the activities of a Federal agency or program.
• ownership: means to hold the beneficial ownership of 1% or more of any class of equity interest in a motorsports dealership, whether the interest is that of a shareholder, partner, limited liability company member, or otherwise. See Montana Code 30-14-2501
• part-time or full-time employee of the state compensation insurance fund: means an employee eligible for inclusion in the state employee group benefit plans under the rules of the department of administration. See Montana Code 2-18-701
• Participant: means a member who terminates employment and for whom an account is established. See Montana Code 2-18-1303
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Peace officer: has the meaning as defined in 46-1-202. See Montana Code 1-1-207
• Person: means an individual, partnership, corporation, incorporated or unincorporated association, limited liability company, limited liability partnership, joint-stock company, reciprocal insurer, syndicate, or any similar entity or combination of entities acting in concert. See Montana Code 30-14-1301
• Person: means an individual, sole proprietorship, firm, partnership, corporation, limited liability partnership or company, or other entity and includes a nonprofit organization exempt from taxation under 501(c)(3) of the Internal Revenue Code, 26 U. See Montana Code 30-14-2003
• Person: has the meaning provided in 30-14-102. See Montana Code 30-14-2501
• Person: means an individual, partnership, corporation, association, or any other business organization. See Montana Code 32-6-103
• Person: means an individual, partnership, corporation, association, business, business trust, or legal representative of an organization. See Montana Code 30-23-102
• Person: means an individual, partnership, corporation, association, organization, government or governmental subdivision or agency, business trust, estate, trust, or any other legal or commercial entity. See Montana Code 31-2-328
• Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
• Person: means an individual, cooperative, association, company, firm, partnership, corporation, or other legal entity. See Montana Code 32-7-102
• Person: means an individual, sole proprietorship, corporation, company, limited liability company, partnership, limited liability partnership, trust, or association. See Montana Code 32-9-103
• Person: means any individual, partnership, association, corporation, or other entity. See Montana Code 30-11-801
• Person: means any individual, partnership, association, corporation, or other entity. See Montana Code 30-11-901
• Person: means any individual, partnership, corporation, limited partnership, limited liability company, limited liability partnership, or other association. See Montana Code 30-13-201
• Person: means natural persons, corporations, trusts, partnerships, incorporated or unincorporated associations, and any other legal entity. See Montana Code 30-14-102
• Person: includes any person, partnership, firm, corporation, joint-stock company, or other association engaged in business within this state. See Montana Code 30-14-202
• Person: means a natural person, corporation, business trust, estate, trust, partnership, association, joint venture, government, governmental subdivision or agency, or any other legal or commercial entity. See Montana Code 30-14-402
• Personal data: means any information that is linked or reasonably linkable to an identified or identifiable individual. See Montana Code 30-14-2802
• Personal property: All property that is not real property.
• Personal property: means money, goods, chattels, things in action, and evidences of debt. See Montana Code 1-1-205
• Personal solicitation: means any attempt by a seller to sell goods or services when either the seller or a person acting for the seller contacts the buyer by telephone or in person other than at the place of business of the seller, except:

  (a)an attempted sale in which the buyer, prior to the attempted sale, personally knows the identity of the seller, the name of the business, firm, or organization that the seller represents, and the identity or kinds of goods or services offered for sale;

  (b)an attempted sale in which the buyer has initiated the contact with the seller;

  (c)an attempted sale of a newspaper subscription in which the seller is a minor engaged in both the delivery and the sale of the newspaper;

  (d)an attempted sale of an insurance policy; or

  (e)an attempted sale of more than $5,000 of goods or services that are not primarily for personal, family, or household purposes. See Montana Code 30-14-502

• Personal solicitation sale: means the purchase, lease, or rental of any goods or services following a personal solicitation by the seller or a person acting for the seller if the buyer is required to give consideration in excess of $25 in cash or credit. See Montana Code 30-14-502
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plan: means the business registration and licensing system and the procedures developed by the board of review that are under the administrative control of the department. See Montana Code 30-16-103
• Plan: means the employee welfare benefit plan established under section 501(c)(9) of the Internal Revenue Code, 26 U. See Montana Code 2-18-1303
• Possessor: means a natural person who has physical control over a gift certificate. See Montana Code 30-14-102
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Premises: means those locations where, by applicable law, financial institutions are authorized to maintain a principal place of business and other offices for the conduct of their respective businesses. See Montana Code 32-6-103
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Primary business: means a manufacturer in which more than one-half of its product produced is and more than one-half of its gross income comes from sales of ammunition components. See Montana Code 30-20-203
• Principal amount of the debt: means the total amount of debt of an individual at the time the individual is accepted into a debt settlement program. See Montana Code 30-14-2101
• Principal shareholder: means a person who directly or indirectly owns or controls, individually or through others, more than 10% of any class of voting stock. See Montana Code 32-1-109
• Printing: means the act of reproducing a design on a surface by any process. See Montana Code 1-1-203
• Privatization: means contracting with the private sector to provide a service normally or traditionally provided directly by an employee of an agency. See Montana Code 2-18-1202
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Probate: Proving a will
• Process: means a writ or summons issued in the course of judicial proceedings. See Montana Code 1-1-202
• processing: means any operation or set of operations performed, whether by manual or automated means, on personal data or on sets of personal data, such as the collection, use, storage, disclosure, analysis, deletion, or modification of personal data. See Montana Code 30-14-2802
• Processor: means an individual who or legal entity that processes personal data on behalf of a controller. See Montana Code 30-14-2802
• Processor: means a person that processes genetic data on behalf of an entity pursuant to a contract between the entity and the processor that prohibits the processor from retaining, using, or disclosing the genetic data, or any information regarding the identity of the consumer, including whether that consumer has solicited or received genetic testing, as applicable, for any purpose other than for the specific purpose of performing the services specified in the contract. See Montana Code 30-23-102
• Profiling: means any form of automated processing performed on personal data to evaluate, analyze, or predict personal aspects related to an identified or identifiable individual's economic situation, health, personal preferences, interests, reliability, behavior, location, or movements. See Montana Code 30-14-2802
• profit and loss: means that account carried on the books of the bank into which all earnings accounts and recoveries are closed, thus exhibiting "gross earnings" and against which all loss and other disbursement items are charged, revealing "net earnings" which are then properly closed to "undivided profits accounts" or "undivided profits" out of which dividends are paid and reserves set aside. See Montana Code 32-1-109
• Propellant: includes smokeless propellant and black powder. See Montana Code 30-20-203
• Property: means anything that may be the subject of ownership. See Montana Code 31-2-328
• Property: means real and personal property. See Montana Code 1-1-205
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Provider: means a person who is contractually obligated to the service contract holder or vehicle theft protection product warranty holder under the terms of the service contract or vehicle theft protection product warranty. See Montana Code 30-14-1301
• provider: means a health care professional or facility. See Montana Code 33-1-801
• Pseudonymous data: means personal data that cannot be attributed to a specific individual without the use of additional information, provided the additional information is kept separately and is subject to appropriate technical and organizational measures to ensure that the personal data is not attributed to an identified or identifiable individual. See Montana Code 30-14-2802
• Public defender: Represent defendants who can't afford an attorney in criminal matters.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Publicly available information: means information that:

  (a)is lawfully made available through federal, state, or municipal government records or widely distributed media; or

  (b)a controller has a reasonable basis to believe a consumer has lawfully made available to the public. See Montana Code 30-14-2802

• Qualified health care expenses: means expenses paid by a participant for medical care, as defined by 26 U. See Montana Code 2-18-1303
• Quorum: The number of legislators that must be present to do business.
• Real estate brokerage activities: means activities that involve offering or providing real estate brokerage services to the public, including:

  (a)acting as a real estate salesperson or real estate broker for a buyer, seller, lessor, or lessee of real property;

  (b)bringing together parties interested in the sale, purchase, lease, rental, or exchange of real property;

  (c)negotiating, on behalf of any party, any portion of a contract relating to the sale, purchase, lease, rental, or exchange of real property other than in connection with providing financing with respect to the transaction;

  (d)engaging in any activity for which a person is required to be licensed as a real estate salesperson or real estate broker under Montana law; or

  (e)offering to engage in any activity or act in any capacity described in subsections (38)(a) through (38)(d). See Montana Code 32-9-103

• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Real property: means lands, tenements, hereditaments, and possessory title to public lands. See Montana Code 1-1-205
• Regional banking organization: means a bank organized in this state that is owned by an entity with consolidated total assets between $10 billion and $50 billion and that has subsidiaries operating in one or more states but not nationwide. See Montana Code 32-1-109
• Registered mortgage loan originator: means an individual who:

  (a)meets the definition of mortgage loan originator and is an employee of:

  (i)a depository institution;

  (ii)a subsidiary that is wholly owned and controlled by a depository institution and regulated by a federal banking agency; or

  (iii)an institution regulated by the farm credit administration; and

  (b)is registered with and maintains a unique identifier through the NMLS. See Montana Code 32-9-103

• Regularly engage: means that a person:

  (a)has engaged in the business of a mortgage broker, mortgage lender, mortgage servicer, or mortgage loan originator on more than five residential mortgage loans in the previous calendar year or expects to engage in the business of a mortgage broker, mortgage lender, mortgage servicer, or mortgage loan originator on more than five residential mortgage loans in the current calendar year; or

  (b)has served as the prospective source of financing or performed other phases of loan originations on more than five residential mortgage loans in the previous calendar year or expects to serve as the prospective source of financing or perform some other phases of loan origination on more than five residential mortgage loans in the current calendar year. See Montana Code 32-9-103

• Reimbursement insurance policy: means a policy of insurance issued to a provider to either provide reimbursement to the provider under the terms of the insured service contracts issued or sold by the provider or, in the event of the provider's nonperformance, to pay on behalf of the provider all covered contractual obligations incurred by the provider under the terms of the insured service contracts issued or sold by the provider. See Montana Code 30-14-1301
• Relative: means :

  (a)an individual related by consanguinity within the third degree as determined by the common law;

  (b)a spouse or an individual related to a spouse within the third degree as so determined; or

  (c)an individual in an adoptive relationship within the third degree. See Montana Code 31-2-328

• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Residential mortgage loan: means a loan primarily for personal, family, or household use secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling or on residential real estate located in Montana. See Montana Code 32-9-103
• Residential real estate: means any real property located in the state of Montana upon which is constructed a dwelling or upon which a dwelling is intended to be built within a 2-year period, subject to 24 C. See Montana Code 32-9-103
• Residential subscriber: means a person who has subscribed to residential telephone service from a local exchange company and the other persons living or residing with the person. See Montana Code 30-14-1601
• Responsible individual: means a Montana-licensed mortgage loan originator with at least 1 1/2 years of experience as a mortgage loan originator or registered mortgage loan originator who is designated by an independent contractor entity as the individual responsible for the operation of a particular location that is under the responsible individual's full management, supervision, and control. See Montana Code 32-9-103
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Reverse mortgage: means a loan collateralized by real estate, typically made to borrowers over 55 years of age, that does not require contractual monthly payments and is typically repaid upon the death of the borrower through the sale of the home or refinance by the heirs. See Montana Code 32-9-201
• Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
• Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). ^{Source: OCC}
• Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
• 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
• Road hazard: means a hazard that is encountered while driving a motor vehicle, including but not limited to potholes, rocks, wood debris, metal parts, glass, plastic, curbs, or composite scraps. See Montana Code 30-14-1301
• Sale of personal data: means the exchange of personal data for monetary or other valuable consideration by the controller to a third party. See Montana Code 30-14-2802
• Satellite terminal: means any machine or device that is located off the premises of a financial institution and that a financial institution or its customers may use to carry out electronic funds transfers. See Montana Code 32-6-103
• savings and loan association: means a savings association or savings bank organized under the laws of the United States or a building and loan association, savings and loan association, or similar entity organized under the laws of a state. See Montana Code 32-2-603
• Savings association: means a savings association or savings bank organized under the laws of the United States or a building and loan association, savings and loan association, or similar entity organized under the laws of a state. See Montana Code 32-1-109
• savings institution: means a mutual association that is organized under the laws of this state. See Montana Code 32-2-1101
• Seller: means a lessor, renter, or anyone offering goods or services for consideration, including an assignee of a seller. See Montana Code 30-14-502
• Sensitive data: means personal data that includes:

  (a)data revealing racial or ethnic origin, religious beliefs, a mental or physical health condition or diagnosis, information about a person's sex life, sexual orientation, or citizenship or immigration status;

  (b)the processing of genetic or biometric data for the purpose of uniquely identifying an individual;

  (c)personal data collected from a known child; or

  (d)precise geolocation data. See Montana Code 30-14-2802

• Service contract: means a contract or agreement for a separately stated consideration for a specific duration to perform the repair, replacement, or maintenance of property or to indemnify for the repair, replacement, or maintenance of property if an operational or structural failure is due to a defect in materials or manufacturing or to normal wear and tear, with or without an additional provision for incidental payment or indemnity under limited circumstances, including but not limited to towing, rental, and emergency road service. See Montana Code 30-14-1301
• Service of process: The service of writs or summonses to the appropriate party.
• Service provider: means an individual or person that provides one or more of the following services to a depository institution:

  (i)data processing services;

  (ii)activities supporting financial services, including but not limited to lending, funds transfer, fiduciary activities, trading activities, and deposit taking;

  (iii)internet-related services, including but not limited to web services and electronic bill payments, mobile applications, system and software development and maintenance, and security monitoring; and

  (iv)activities related to the business of banking. See Montana Code 32-1-109

• Service provider: means a person who performs activities relating to the business of mortgage origination, lending, or servicing on behalf of a licensee. See Montana Code 32-9-103
• Servicer: means the entity performing the routine administration of residential mortgage loans on behalf of the owner or owners of the related mortgages under the terms of a servicing contract. See Montana Code 32-9-201
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Several: means two or more. See Montana Code 1-1-201
• Sex: means the organization of the body parts and gametes for reproduction in human beings and other organisms. See Montana Code 1-1-201
• Shell bank: means a bank organized solely for the purpose of, and that does not conduct any banking business prior to, acquiring control of, merging with, or acquiring all or substantially all of the assets of an existing bank or savings association. See Montana Code 32-1-109
• Small arms: means pistols, revolvers, rifles, shotguns, and other similar devices that are portable by one person, the possession and use of which are protected by Article II, section 12, of the Montana constitution. See Montana Code 30-20-203
• Small arms primers: means the priming component for a round of ammunition intended for use in small arms that is usually made of a cup, an anvil, and a shock-sensitive chemical compound and is designed to ignite the propellant in an ammunition cartridge for conventional small arms. See Montana Code 30-20-203
• Smokeless propellant: means a chemical substance designed to expel a projectile from small arms through burning and expansion at a quick but controlled burning rate. See Montana Code 30-20-203
• State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
• State employee: means an employee of the state, specifically including a member or employee of the legislative branch of state government. See Montana Code 2-18-809
• Statute: A law passed by a legislature.
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Subpoena: A command to a witness to appear and give testimony.
• Subpoena duces tecum: A command to a witness to produce documents.
• subscription: includes the mark of a person who cannot write if the person's name is written near the mark by another person who also signs that person's own name as a witness. See Montana Code 1-1-203
• Subsidiary: means a company 25% or more of whose voting shares or equity interests are owned and controlled by a bank. See Montana Code 32-1-109
• Summons: Another word for subpoena used by the criminal justice system.
• Supplemental appropriation: Budget authority provided in an appropriations act in addition to regular or continuing appropriations already provided. Supplemental appropriations generally are made to cover emergencies, such as disaster relief, or other needs deemed too urgent to be postponed until the enactment of next year's regular appropriations act.
• Surplus: means a fund paid in or created under this chapter by a bank from its net earnings or undivided profits that, when set apart and designated as surplus, is not available for the payment of dividends and cannot be used for the payment of expenses or losses so long as the bank has undivided profits. See Montana Code 32-1-109
• Targeted advertising: means displaying advertisements to a consumer in which the advertisement is selected based on personal data obtained or inferred from that consumer's activities over time and across nonaffiliated internet websites or online applications to predict the consumer's preferences or interests. See Montana Code 30-14-2802
• Telephone solicitation: means any voice communication over a telephone line from a live operator, through the use of an automatic dialing-announcing device, or by other means for the purpose of encouraging the purchase of, rental of, or investment in property, goods, or services. See Montana Code 30-14-1601
• Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
• Testify: Answer questions in court.
• Testify: means every mode of oral statement under oath or affirmation. See Montana Code 1-1-202
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Theater: means any establishment in which motion pictures are exhibited regularly to the public for a charge. See Montana Code 30-14-303
• Third party: means an individual or legal entity, such as a public authority, agency, or body, other than the consumer, controller, or processor or an affiliate of the controller or processor. See Montana Code 30-14-2802
• Third party: means a person other than the consumer, entity, or processor. See Montana Code 30-23-102
• Third persons: means all persons who are not parties to the obligation or transaction concerning which the phrase is used. See Montana Code 1-1-206
• Time deposits: means all deposits, the payment of which cannot legally be required within 7 days. See Montana Code 32-1-109
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Trade screening: means the showing of a motion picture by a distributor in the market area. See Montana Code 30-14-303
• Trade secret: means information or computer software, including a formula, pattern, compilation, program, device, method, technique, or process, that:

  (a)derives independent economic value, actual or potential, from not being generally known to and not being readily ascertainable by proper means by other persons who can obtain economic value from its disclosure or use; and

  (b)is the subject of efforts that are reasonable under the circumstances to maintain its secrecy. See Montana Code 30-14-402

• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Transfer: means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset and includes payment of money, release, lease, and creation of a lien or other encumbrance. See Montana Code 31-2-328
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.
• Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}
• Ultimate equity owner: means an individual who, directly or indirectly, owns or controls an ownership interest in a corporation, a foreign corporation, an alien business organization, or any other form of business organization, regardless of whether the individual owns or controls an ownership interest, individually or in any combination, through one or more persons or one or more proxies, powers of attorney, nominees, corporations, associations, partnerships, trusts, joint-stock companies, or other entities or devices. See Montana Code 32-9-103
• Undivided profits: means the credit balance of the profit and loss account of a bank. See Montana Code 32-1-109
• Unencumbered investment grade assets held for sale or trade: means agency mortgage-backed securities, obligations of GSEs, and U. See Montana Code 32-9-201
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Unique identification device: means a magnetic encoded plastic card or equivalent device that contains either a number or a dollar balance, or both, that is unique to a customer and that is issued by a financial institution, merchant, or other person. See Montana Code 32-6-103
• Unique identifier: means a number or other identifier assigned by protocols established by the NMLS. See Montana Code 32-9-103
• United States: includes the District of Columbia and the territories. See Montana Code 1-1-201
• Usage: means a reasonable and lawful public custom concerning transactions of the same nature as those which are to be affected thereby, existing at the place where the obligation is to be performed, and either known to the parties or so well established, general, and uniform that the parties must be presumed to have acted with reference thereto. See Montana Code 1-1-206
• Usual: means according to usage. See Montana Code 1-1-206
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}
• Vehicle theft protection product: means a device or system that:

  (i)is installed on or applied to a motor vehicle;

  (ii)is designed to prevent loss or damage to a motor vehicle from theft; and

  (iii)includes a vehicle theft protection product warranty. See Montana Code 30-14-1301

• Vehicle theft protection product warranty: means a written agreement by a warrantor that provides that if the vehicle theft protection product fails to prevent loss or damage to a motor vehicle from theft, then the warrantor will pay to or on behalf of the vehicle theft protection product warranty holder specified incidental costs as a result of the failure of the vehicle theft protection product to perform pursuant to the terms of the written agreement. See Montana Code 30-14-1301
• Vendor: includes not only any person acting as one known generally and legally as a vendor but also any person who performs work upon, renovates, alters, or improves any personal property belonging to another person. See Montana Code 30-14-202
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.
• Vessel: when used in reference to shipping, includes ships of all kinds, steamboats and steamships, canal boats, and every structure adapted to be navigated from place to place. See Montana Code 1-1-207
• Violation: includes without limitation any action, alone or with others, that causes, counsels, aids, or abets a violation. See Montana Code 32-2-1201
• warranty holder: means the person who is the purchaser of a vehicle theft protection product and the holder of a vehicle theft protection product warranty. See Montana Code 30-14-1301
• Wheelchair: means a manually powered or motor-driven wheelchair, scooter, or other motorized device that is used for mobility assistance, that costs $500 or more, and that a consumer purchases or accepts by transfer. See Montana Code 30-14-1202
• Wheelchair dealer: means a person who is in the retail business of selling wheelchairs. See Montana Code 30-14-1202
• Wholesaler: means any individual, partnership, association, or corporation engaged in the business of selling inventory, as defined in this section, to retailers. See Montana Code 30-11-701
• Willfully: when applied to the intent with which an act is done or omitted, means a purpose or willingness to commit the act or make the omission referred to. See Montana Code 1-1-204
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• Writ: means an order in writing issued in the name of the state or of a court or judicial officer. See Montana Code 1-1-202
• Writing: includes printing. See Montana Code 1-1-203