Bill > HB150

This bill generally revises Montana's alcohol and gambling laws, focusing primarily on clarifying and expanding regulations around security interests, ownership transfers, and loan structures for alcoholic beverage and gambling licenses. The bill modifies existing statutes to provide more flexibility for regulated lenders in structuring loans and collateral for businesses with alcohol and gambling licenses, while maintaining regulatory oversight. Key provisions include allowing more complex loan documentation that does not automatically create undisclosed ownership interests, permitting owners and non-owners to be loan co-borrowers or guarantors, and establishing clearer procedures for loan payments and ownership transfers. The bill also introduces more detailed definitions and notification requirements for situations involving loan payments, security interests, and changes in business ownership, with the goal of providing greater clarity and regulatory transparency in the alcohol and gambling licensing systems. Importantly, the changes aim to balance the financial needs of businesses with the state's interest in preventing inappropriate ownership transfers or hidden financial arrangements.

Business and Industry

https://bills.legmt.gov/#/laws/bill/2/LC0223