30-9A-201. General effectiveness of security agreement. (1) Except as otherwise provided in chapters 1 through 9A, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors. (2) A transaction subject to this chapter is subject to any applicable rule of law that establishes a different rule for consumers, to Title 30, chapter 14, part 1, and to Title 31, chapter 1. (3) In case of conflict between this chapter and a rule of law, statute, or regulation described in subsection (2), the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in subsection (2) has only the effect that the statute or regulation specifies. (4) This chapter does not: (a) validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in subsection (2); or (b) extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it. History: En. Sec. 10, Ch. 305, L. 1999; Sec. 30-9-211, MCA 1999; redes. 30-9A-201 by Code Commissioner, 2001.
Montana Legal Code