Montana § 32-7-103 - Exemptions
Full text of Montana Montana Code Annotated § 32-7-103 — Exemptions, with citation guidance and answers to common questions.
§ 32-7-103. Exemptions
Exemptions. (1) The provisions of this part do not apply to the following: (a) a person licensed by this state pursuant to Title 37, chapter 61, as an attorney at law who is not actively engaged in the escrow business; (b) a person licensed by this state pursuant to Title 37, chapter 50, as a public accountant who is not actively engaged in the escrow business; (c) a person whose principal business is that of preparing abstracts or making searches of title that are used as a basis for the issuance of any title insurance policy by a company doing business under the laws of this state relating to insurance companies and the person is regulated by the commissioner of insurance; (d) a person licensed pursuant to Title 32, chapter 9, part 1, as a mortgage broker, mortgage lender, or mortgage servicer, except that a licensed mortgage broker, mortgage lender, or mortgage servicer that provides escrow services in relation to contracts, agreements, or transactions besides residential mortgage loan agreements also must be licensed under this part as an escrow business; (e) a financial institution, as defined in 32-6-103 , that has its escrow accounts regularly audited or examined. The financial institution shall supply a copy of the most recently prepared audit or examination to the department upon the department's request. (f) except as provided in subsection (2), any broker licensed by the Montana board of realty regulation if the broker is performing an act in the course of or incidental to a single real estate transaction for which a real estate license is required; (g) any person furnishing escrow services under the order of a court; and (h) a loan closer if the loan closer: (i) is employed by an exempt financial institution; or (ii) is an independent contractor acting only as a courier and who does not take possession of the funds for deposit or subsequent disbursement. (2) A trust account of a broker licensed by the Montana board of realty regulation is not an escrow account within the meaning of this part.
Frequently Asked Questions About Montana § 32-7-103
What does Montana Code Annotated § 32-7-103 cover?
Section 32-7-103 ("Exemptions") is part of the Montana Code Annotated, the codified statutory law of Montana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Montana § 32-7-103?
A common citation format is "Montana Code Annotated § 32-7-103" (Montana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 32-7-103 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Montana.