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Montana Title 30. Trade and Commerce § 30-10-911. Unlawful representation concerning approval of application

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The fact that an application for a license to offer or sell living trusts has been filed or approved in this state does not constitute a finding by the state auditor that any document filed under this part is true, complete, and not misleading. The state auditor's approval of an application for a license to offer or sell a living trust may not be construed as a determination of the merits of any transaction or a recommendation of any person or transaction. It is unlawful to make or cause to be made to any prospective purchaser, customer, or client any representation inconsistent with this section.

<This section is suspended through the disaster emergency relief period. See Executive Order No. 20-01 (2019 HI EO P20-33) signed on March 23, 2020, and executive actions issued subsequent thereto.>

When used in sections 261-31 to 261-36:

Business” means any lawful activity conducted:

(1) Primarily for the purchase and resale, manufacture, processing, or marketing of products, commodities, or any other personal property;

(2) Primarily for the sale of services to the public; or

(3) By a nonprofit organization.

Director” means the state director of transportation.

Displaced person” means any person who is required to move from any real property on or after September 1, 1969 as a result of the acquisition of such real property for airport purposes or as the result of the acquisition for airport purposes of other real property on which such person is conducting a business or farm operation.

Family” means two or more individuals living together in the same dwelling unit who are related to each other by blood, marriage, adoption, or legal guardianship.

Farm operation” means any activity conducted solely or primarily for the production of one or more agricultural products or commodities for sale and home use, and customarily producing such products or commodities in sufficient quantity to be capable of contributing materially to the operator's support.

Person” means:

(1) Any individual, partnership, corporation, or association that is the owner of a business;

(2) Any owner, part owner, tenant, or sharecropper operating a farm;

(3) The head of a family; or

(4) An individual not a member of a family.

Cite this article: - Montana Title 30. Trade and Commerce § 30-10-911. Unlawful representation concerning approval of application - last updated April 27, 2021 |

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