MT HB150

Amends MCA sections 16-4-801 and 23-5-118 to revise ownership and security interest rules for alcoholic beverage and gambling licenses in Montana

Expands provisions allowing regulated lenders to accept alcoholic beverage licenses or gambling operation assets as collateral for loans, including permitting owners and non-owners to be coborrowers, guarantors, or pledge assets

Adds language explicitly allowing "other persons who may directly or indirectly benefit from the pledge" of licenses or assets as collateral, broadening who can participate in loan arrangements without creating undisclosed ownership interests

Requires licensees to notify the department within 90 days when coborrowers, guarantors, or other persons make payments on institutional loans, with payments treated as loans that must be memorialized in writing

Clarifies that regulated lenders have no duty to ensure coborrower or guarantor compliance with notification requirements when receiving loan or guaranty payments