6.10.302    FOREIGN SAVINGS AND LOAN ASSOCIATION EXEMPTION

(1) By authority delegated to the commissioner in 30-10-105, MCA, a transaction in a security issued by and representing an interest in or a debt of or guaranteed by a savings and loan association or a building and loan or similar association, other than those described in 30-10-104(4) , MCA, is exempt from the registration requirements of 30-10-202, MCA, if:

(a) it is sold through a registered broker-dealer and registered salesperson;

(b) the issuer is a member of the federal deposit insurance corporation; or

(c) in the case of a certificate of deposit, the sums representing the certificate of deposit are fully insured by the federal deposit insurance corporation.

 

History: 30-10-105, 30-10-107, MCA; IMP, 30-10-105, MCA; NEW, 1988 MAR p. 1803, Eff. 8/12/88; AMD, 1994 MAR p. 569, Eff. 3/18/94; TRANS from ARM 6.10.125, 2008 MAR . 2046, Eff. 9/26/08; AMD, 2020 MAR p. 1874, Eff. 10/24/20.