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Current as of January 01, 2024 | Updated by Findlaw Staff
A wage broker may not ask, demand, or receive, either as compensation or interest or in any other manner, directly or indirectly, any compensation or interest for the use of money advanced or loaned by the wage broker to any employee or wage earner in excess of 12% a year. The compensation or rate of interest must be computed upon the amount actually advanced to and received by the employee or wage earner and must include all commissions or compensation whatsoever to the wage broker or any other person for making or procuring the loan.
Cite this article: FindLaw.com - Montana Title 31. Credit Transactions and Relationships § 31-1-305. Interest on loans--amount and computation - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-31-credit-transactions-and-relationships/mt-st-31-1-305/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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