31-1-112. Interest rate limitation exemption -- regulated lenders -- merchant finance. - Montana Statutes

     31-1-112. Interest rate limitation exemption -- regulated lenders -- merchant finance. (1) A regulated lender is exempt from all limitations on the rate of interest that it may charge and is exempt from the operation and effect of all usury statutes.
     (2) A finance operation that finances transactions between merchants, as defined in 30-2-104, is also exempt from usury limits.

     History: (1)En. Sec. 2, Ch. 275, L. 1981; (2)En. Sec. 4, Ch. 276, L. 1981; amd. Sec. 1, Ch. 9, L. 1983; amd. Sec. 1, Ch. 22, L. 1983.