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.