2.59.702    CHANGE OF OWNERSHIP IN ESCROW BUSINESS

(1) In the event of a change of ownership of an escrow business, the buyer(s) shall file with the department of administration, a new application for a license. For the purpose of this rule, a change in ownership will be deemed to occur when a 25% or more partnership interest of 25% or more of the outstanding voting stock in a corporation is transferred to a new owner.

History: Sec. 32-7-108, MCA; IMP, Sec. 32-7-111, MCA; NEW, 1990 MAR p. 929, Eff. 5/18/90; TRANS, from Commerce, 2001 MAR p. 1178.