{"data":{"id":"us-mt/31-1-722","jurisdiction":"us-mt","citation":"31-1-722","heading":"Prohibited and permitted fees -- attorney fees and costs.","body":"(1) A licensee may not charge or receive, directly or indirectly, any interest, fees, or charges except those specifically authorized by this section.\n(2) A licensee may not charge a fee for making or carrying each deferred deposit loan authorized by this part that exceeds 36% per annum, exclusive of the insufficient funds fees authorized in subsections (3) and (4).\n(3) If there are insufficient funds to pay a check on the date of presentment, a licensee may charge a fee, not to exceed $30. Only one fee may be collected pursuant to this subsection with respect to a particular check even if it has been redeposited and returned more than once. A fee charged pursuant to this subsection is a licensee's exclusive charge for late payment. A licensee or any collection agency acting as an agent of a licensee, as a holder in due course of a licensee, or under an agreement with a licensee to collect amounts due or asserted to be due may not collect damages under 27-1-717(3) for an insufficient funds check.\n(4) If the loan involves an electronic deduction and there are insufficient funds to deduct on the date on which the payment is due, a licensee may charge a fee, not to exceed $30. Only one fee may be collected pursuant to this subsection with respect to a particular loan even if the licensee has attempted more than once to deduct the amount due from the consumer's account. A fee charged pursuant to this subsection is a licensee's exclusive charge for late payment. A licensee or any collection agency acting as an agent of a licensee, as a holder in due course of a licensee, or under an agreement with a licensee to collect amounts due or asserted to be due may not collect damages under 27-1-717(3) for an electronic deduction for which there are insufficient funds.\n(5) If the loan agreement in 31-1-721 requires, reasonable attorney fees and court costs may be awarded to the party in whose favor a final judgment is rendered in any action on a deferred deposit loan entered into pursuant to this part.","path":["TITLE 31. CREDIT TRANSACTIONS AND RELATIONSHIPS","CHAPTER 1. CREDIT TRANSACTIONS","Part 7. Montana Deferred Deposit Loan Act"],"source_url":"https://mca.legmt.gov/bills/mca/title_0310/chapter_0010/part_0070/section_0220/0310-0010-0070-0220.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:51:44Z","sha256":"c619971797f86e2c39e6df908f5506d439a1a286f79fe36a3f9260973f172cf2","source_id":"us-mt","stale":false,"prev":"us-mt/31-1-721","next":"us-mt/31-1-723"},"notice":"GroundRules: Original legal text. Not legal advice."}