Montana Title 31. Credit Transactions and Relationships § 31-1-703. Definitions

(1) “Account” means any banking, checking, credit union, commercial, savings, savings and loan, brokerage, investment, or other kind of depository account held by a consumer.

(2) “Check” means a negotiable instrument, as defined in 30-3-104, that is drawn on a state or federal bank, credit union, or savings and loan association and is payable on demand at the maturity of a deferred deposit loan.

(3) “Consumer” means a natural person who, singly or jointly with another natural person, enters into a deferred deposit loan.

(4) “Deferred deposit lender” or “licensee” means a person engaged in the business of making deferred deposit loans.

(5) “Deferred deposit loan” means an arrangement, including all representations made by the deferred deposit lender whether express or implied, in which:

(6) “Department” means the department of administration.

(7) “Person” means a natural person, sole proprietorship, firm, partnership, corporation, or other entity.