ARM 23.19.501. DEFINITIONS

In addition to the terms defined in 30-14-1403 , MCA, the following terms shall, unless the context otherwise indicates, have the following meanings for the purposes of this subchapter: (1) "Act" means the Montana Telemarketing Registration and Fraud Prevention Act as set forth in Title 30, chapter 14, part 14, MCA. (2) "Applicant" means a nonexempt seller or telemarketer applying for registration or renewal with the department. (3) "Financial responsibility" means surety bond, certificate of deposit, cash or a government bond in the amount of $50,000. (4) "Manager" means a person who supervises the work of a telemarketer or seller. (5) "Nonexempt seller or telemarketer" means a seller or telemarketer as defined in 30-14-1403 , MCA, who pursuant to 30-14-1405 , MCA, is not exempt from the registration and bonding requirement of 30-14-1404 , MCA. (6) "Principal" means: (a) an owner; (b) an officer of a corporation or limited liability company; (c) a general partner of a partnership; (d) a sole proprietor of a sole proprietorship; (e) a partner of a limited liability partnership; (f) a trustee of a trust; or (g) any other individual who controls, manages or supervises a telephone sales or operation. (7) "Registrant" means the nonexempt seller or telemarketer registered with the department to conduct telemarketing operations in Montana.