reglab/statecodes huggingface dataset:
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 24. Property Insurance › Part 2. Portable Electronics Insurance Act › 33-24-202. Definitions

33-24-202. Definitions.
As used in this part, the following definitions apply:
(1) "Customer" means a person who purchases portable electronics or services related to the use of portable electronics.
(2) "Enrolled customer" means a customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics.
(3) "Location" means any physical location in this state or any website, call center site, or similar location directed to residents of this state.
(4) "Portable electronics" means electronic devices that are portable in nature and their accessories.
(5) (a) "Portable electronics insurance" means insurance providing coverage for the repair or replacement of portable electronics that may provide coverage for portable electronics against loss, theft, inoperability due to mechanical failure, malfunction, damage, or other similar causes of loss. Portable electronics insurance also includes any agreement in which a person or any legal entity, in exchange for consideration paid, agrees to provide for the future repair, replacement, or provision of portable electronics.
(b) The term does not include:
(i) a service contract governed by Title 30, chapter 14, part 13;
(ii) a policy of insurance covering a seller's or a manufacturer's obligations under a warranty; or
(iii) a homeowner's, renter's, private passenger automobile, commercial, or similar policy.
(6) "Portable electronics transaction" means:
(a) the sale or lease of portable electronics by a vendor to a customer; or
(b) the sale of a service related to the use of portable electronics by a vendor to a customer.
(7) "Supervising entity" means a business entity that is a licensed insurer or insurance producer that is authorized by a licensed insurer to supervise the administration of a portable electronics insurance program.
(8) (a) "Vendor" means a person in the business of engaging in portable electronics transactions directly or indirectly.
(b) The term does not include a cooperative organized and transacting business in this state pursuant to Title 35, chapter 18, its subsidiaries, or any other entity affiliated with the cooperative or its subsidiaries through common ownership.
History: En. Sec. 2, Ch. 406, L. 2013.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 24. Property Insurance › Part 2. Portable Electronics Insurance Act › 33-24-203. Licensure of vendors -- rulemaking

33-24-203. Licensure of vendors -- rulemaking.
(1) A vendor must hold a limited lines insurance producer license to sell or offer coverage under a policy of portable electronics insurance.
(2) A license issued under this part authorizes any employee or authorized representative of the vendor to sell or offer coverage under a policy of portable electronics insurance to a customer at each location at which the vendor engages in portable electronics transactions.
(3) The supervising entity shall maintain a registry of vendor locations that are authorized to sell or solicit portable electronics insurance coverage in this state. Upon request by the commissioner and with 10 days' notice to the supervising entity, the registry must be open to inspection and examination by the commissioner during regular business hours of the supervising entity.
(4) A license issued under this part authorizes the licensee and its employees or authorized representatives to engage in those activities that are permitted in this part.
(5) The commissioner may adopt rules to implement the provisions of this part.
History: En. Sec. 3, Ch. 406, L. 2013.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 24. Property Insurance › Part 2. Portable Electronics Insurance Act › 33-24-204. Requirements for sale of portable electronics insurance

33-24-204. Requirements for sale of portable electronics insurance.
(1) At each location where portable electronics insurance is offered to customers, brochures or other written materials must be made available to a prospective customer that:
(a) disclose that portable electronics insurance may provide a duplication of coverage already provided by a customer's homeowner's insurance policy, renter's insurance policy, or other source of coverage;
(b) state that the enrollment by the customer in a portable electronics insurance program is not required in order to purchase or lease portable electronics or services;
(c) summarize the material terms of the insurance coverage, including:
(i) the identity of the insurer;
(ii) the identity of the supervising entity;
(iii) the amount of any applicable deductible and how it is to be paid;
(iv) benefits of the coverage; and
(v) key terms and conditions of coverage such as whether portable electronics may be repaired or replaced with similar make and model reconditioned or nonoriginal manufacturer parts or equipment;
(d) summarize the process for filing a claim, including a description of how to return portable electronics and the maximum fee applicable in the event that the customer fails to comply with any equipment return requirements; and
(e) state that an enrolled customer may cancel enrollment for coverage under a portable electronics insurance policy at any time and that the person paying the premium shall receive a refund of any applicable unearned premium.
(2) The written materials required by this section are not subject to filing with or approval by the commissioner.
(3) Portable electronics insurance may be offered on a month-to-month or other periodic basis as a group or master commercial inland marine policy, subject to 33-1-221 through 33-1-229, issued to a vendor of portable electronics for its enrolled customers.
(4) Eligibility and underwriting standards for customers electing to enroll in coverage must be established by the supervising entity for each portable electronics insurance program.
History: En. Sec. 4, Ch. 406, L. 2013.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 24. Property Insurance › Part 2. Portable Electronics Insurance Act › 33-24-206. Application for vendor license -- fees

33-24-206. Application for vendor license -- fees.
(1) An applicant for a license under this part shall file with the commissioner an application on forms prescribed by the commissioner.
(2) The application must provide:
(a) the name, residence address, and other information required by the commissioner for an employee or officer of the vendor that is designated by the applicant as the person responsible for the vendor's compliance with the requirements of this part, and if the vendor derives more than 50% of its revenue from the sale of portable electronics insurance, the information required by this subsection (2)(a) must be provided for all officers, directors, and shareholders of record having beneficial ownership of 10% or more of any class of securities registered under federal securities law; and
(b) the location of the applicant's home office.
(3) Any vendor engaging in portable electronics insurance transactions on or before August 1, 2013, shall apply for licensure within 90 days of the application being made available by the commissioner. Any applicant commencing operations after August 1, 2013, shall obtain a license prior to offering portable electronics insurance.
(4) Initial licenses issued under this part are valid for a period of 24 months.
(5) Each vendor of portable electronics licensed under this part shall pay to the commissioner a fee determined by the commissioner as follows:
(a) for a vendor that is engaged in portable electronics transactions at 10 or fewer locations in the state, the fee may not exceed $100 for an initial license or for each renewal; and
(b) for a vendor that is engaged in portable electronics transaction at more than 10 locations in the state, the fee may not exceed $1,000 for an initial license or $500 for each renewal.
History: En. Sec. 6, Ch. 406, L. 2013.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 24. Property Insurance › Part 2. Portable Electronics Insurance Act › 33-24-207. Suspension or revocation of vendor license

33-24-207. Suspension or revocation of vendor license.
If a vendor of portable electronics or its employee or authorized representative violates any provision of this part, the commissioner may do any of the following after notice and the opportunity for a hearing:
(1) impose fines not to exceed $500 for each violation or $5,000 in the aggregate for violations;
(2) impose other penalties that the commissioner considers reasonable to carry out the purpose of this part, including:
(a) suspending the privilege of transacting portable electronics insurance under this part at specific business locations where violations have occurred; or
(b) suspending or revoking the ability of individual employees or authorized representatives to act under the license.
History: En. Sec. 7, Ch. 406, L. 2013.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 24. Property Insurance › Part 2. Portable Electronics Insurance Act › 33-24-209. Portable electronics insurance claims

33-24-209. Portable electronics insurance claims.
(1) An individual who collects claim information from or furnishes claim information to insureds or claimants and who conducts data entry, including entering data into an automated claims adjudication system, is exempt from licensure under this title if no more than 25 of these individuals are under the supervision of one licensed independent adjuster or licensed insurance producer who is exempt from licensure pursuant to 33-17-102(1)(b)(iii).
(2) For purposes of portable electronics insurance claims, residents of Canada may not be licensed as nonresident adjusters unless they have obtained a resident license in another state or designated another state as their home state.
(3) For purposes of this section, "automated claims adjudication system" means a preprogrammed computer system designed for the collection, data entry, calculation, and final resolution of portable electronics insurance claims that:
(a) may be utilized only by a licensed independent adjuster, licensed insurance producer, or supervised individual operating pursuant to this section;
(b) must comply with all claims payment requirements of this title; and
(c) must be certified as compliant with this section by a licensed independent adjuster that is an officer of the entity that employs the individuals operating pursuant to this section.
History: En. Sec. 9, Ch. 406, L. 2013.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 24. Property Insurance › Part 3. Self-Storage Insurance Act › 33-24-301. Short title -- purpose

33-24-301. Short title -- purpose.
This part may be cited as the "Self-Storage Insurance Act". The purpose of this act is to coordinate with the Self-Storage Facilities Act, Title 70, chapter 6, part 6, and allow for operators of the facilities to offer self-storage insurance to their renters.
History: En. Sec. 1, Ch. 121, L. 2021.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 24. Property Insurance › Part 3. Self-Storage Insurance Act › 33-24-302. Definitions

33-24-302. Definitions.
As used in this part, the following definitions apply:
(1) "Authorized representative" means an individual authorized by an operator to sell or offer self-storage insurance coverage in accordance with this part.
(2) "Location" means any physical location in this state.
(3) (a) "Operator" means a business entity that is the owner, operator, lessor, or sublessor of a self-storage facility or an agent or another person authorized to manage the facility or to receive rent from a renter under a rental agreement.
(b) The term does not include a warehouse operator if the warehouse operator issues a warehouse receipt, bill of lading, or other document of title for the personal property stored. The operator may be a resident or nonresident of this state.
(4) "Personal property" means movable property not affixed to land.
(5) "Rental agreement" means a written agreement or lease that establishes or modifies the terms, conditions, or rules concerning the use and occupancy of a leased space at a self-storage facility.
(6) "Renter" means a person entitled to the use of a leased space at a self-storage facility under a rental agreement or the person's successors or assigns.
(7) "Self-storage facility" means real property consisting of individual storage spaces in which a renter customarily stores and removes personal property on a self-service basis.
(8) "Self-storage insurance" means insurance offered in connection with and incidental to the rental of a leased space at a self-storage facility and which provides coverage to renters for the loss of or damage to personal property occurring at the facility or when the property is in transit to or from the facility during the term of the rental agreement. Self-storage insurance coverage may be offered on a month-to-month or other periodic basis under an individual, commercial, or group policy.
(9) "Supervising entity" means a business entity that is a licensed insurer or insurance producer that is authorized by a licensed insurer to supervise the administration of a self-storage insurance program.
History: En. Sec. 2, Ch. 121, L. 2021.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 24. Property Insurance › Part 3. Self-Storage Insurance Act › 33-24-303. Licensure of operators -- rulemaking

33-24-303. Licensure of operators -- rulemaking.
(1) An operator must hold a limited lines insurance producer license in order to sell or offer self-storage insurance coverage. An operator is not required to hold a license solely to display and make available to renters and prospective renters brochures and other promotional materials created by or on behalf of an authorized insurer.
(2) A license issued under this part authorizes the operator and the employees and authorized representatives of the operator to sell and offer self-storage insurance coverage to renters at each location at which the operator conducts business.
(3) The supervising entity shall maintain a registry of the locations where the operator sells or offers self-storage insurance coverage in this state. On request by the commissioner and with 10 days' notice to the supervising entity, the registry must be open to inspection and examination by the commissioner during regular business hours of the supervising entity.
(4) A license issued under this part authorizes the operator and its employees and authorized representatives to engage in those activities that are permitted in this part.
(5) Operators and their employees and authorized representatives are exempt from all prelicensing examination and continuing education requirements.
(6) The commissioner may adopt rules to implement the provisions of this part.
History: En. Sec. 3, Ch. 121, L. 2021.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 24. Property Insurance › Part 3. Self-Storage Insurance Act › 33-24-304. Brochures and materials explaining self-storage coverage

33-24-304. Brochures and materials explaining self-storage coverage.
(1) At each location where self-storage insurance coverage is offered to renters, written or electronic brochures or materials must be made available to renters that:
(a) disclose that self-storage insurance may provide a duplication of coverage already provided by a renter's homeowner's insurance policy, renter's insurance policy, or other source of coverage;
(b) state that the enrollment by the renter in a self-storage insurance program offered by the operator is not required in order to rent a leased space at the self-storage facility;
(c) provide a copy of the actual self-storage insurance coverage, or summarize the material terms of the insurance coverage, including:
(i) the identity of the insurer;
(ii) the identity of the supervising entity, if different from the insurer;
(iii) the amount of any applicable deductible and how it is to be met;
(iv) benefits of the coverage; and
(v) key terms and conditions of the coverage;
(d) summarize the process for filing a claim; and
(e) state that a renter that purchases self-storage insurance coverage may cancel the coverage at any time and that the person paying the premium must receive a refund of any applicable unearned premium.
(2) The written or electronic brochures or materials required by this section are not subject to filing with or approval by the commissioner.
History: En. Sec. 4, Ch. 121, L. 2021.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 24. Property Insurance › Part 3. Self-Storage Insurance Act › 33-24-305. Authority of operators

33-24-305. Authority of operators.
(1) An employee or authorized representative of an operator may sell and offer self-storage insurance coverage to a renter and is not subject to licensure as an insurance producer under this title provided that:
(a) the operator obtains a limited lines insurance producer license to authorize its employees or authorized representatives to sell and offer self-storage insurance coverage;
(b) the insurer issuing the self-storage insurance either directly supervises or appoints a supervising entity to supervise the administration of the program, including development of a training program for employees and authorized representatives of the operator. The training required by this subsection (1)(b) must comply with the following:
(i) the training must be delivered to employees and authorized representatives of an operator who are directly engaged in the activity of selling and offering self-storage insurance coverage;
(ii) if the training is provided in an electronic form, the supervising entity shall implement a supplemental education program regarding the self-storage insurance that is conducted and overseen by licensed insurance producers or adjusters; and
(iii) each employee and authorized representative who is directly engaged in the activity of selling and offering self-storage insurance must receive basic instruction about the self-storage insurance offered to renters and the disclosures required under 33-24-304(1); and
(c) employees and authorized representatives of an operator may not advertise, represent, or otherwise hold out to the public that they are nonlimited lines licensed insurance producers unless otherwise licensed.
(2) Employees or authorized representatives of an operator may not be compensated based primarily on the number of renters enrolled for self-storage insurance coverage but may receive compensation for activities under the limited lines insurance producer license that is incidental to their overall compensation.
(3) (a) The charges for self-storage insurance coverage may be billed and collected by the operator and its employees and authorized representatives. If billed by the operator, the charges for self-storage insurance coverage must be separately itemized on the renter's bill.
(b) Operators that are billing and collecting the charges are not required to maintain the funds in a segregated account if the operator is authorized by the insurer or supervising entity to hold the funds in an alternative manner and remits the premiums to the insurer or supervising entity within 60 days of receipt. All premiums received by an operator from a renter for the sale of self-storage insurance are considered funds held by the operator in a fiduciary capacity for the benefit of the insurer. Operators may receive compensation for billing and collection services.
History: En. Sec. 5, Ch. 121, L. 2021.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 24. Property Insurance › Part 3. Self-Storage Insurance Act › 33-24-306. Application for operator license -- fees

33-24-306. Application for operator license -- fees.
(1) An applicant for a license under this part shall file with the commissioner an application on forms prescribed by the commissioner. The applicant may be a resident or nonresident of this state.
(2) (a) The application must provide:
(i) the name, residence address, and other information required by the commissioner for an authorized representative of the operator or supervising entity that is designated by the applicant as the person responsible for the operator's compliance with the requirements of this part; and
(ii) the location of the operator's home office.
(b) If the operator derives more than 50% of its revenue from the sale of self-storage insurance, the information required by subsection (2)(a) must be provided for all officers, directors, and shareholders of record having beneficial ownership of 10% or more of any class of securities registered under federal securities law.
(3) Initial licenses issued under this part are valid for a period of 24 months.
(4) Each operator licensed under this part shall pay to the commissioner a fee determined by the commissioner as follows:
(a) for an operator that sells self-storage insurance at 10 or fewer locations in the state, the fee may not exceed $100 for an initial license or for each renewal; and
(b) for an operator that sells self-storage insurance at more than 10 locations in the state, the fee may not exceed $250 for an initial license or $100 for each renewal.
History: En. Sec. 6, Ch. 121, L. 2021.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 24. Property Insurance › Part 3. Self-Storage Insurance Act › 33-24-307. Suspension or revocation of operator license

33-24-307. Suspension or revocation of operator license.
If an operator or its employee or authorized representative violates any provision of this part, the commissioner may do any of the following after notice and the opportunity for a hearing:
(1) impose fines not to exceed $500 for each violation or $5,000 in the aggregate for violations; or
(2) impose other penalties that the commissioner considers reasonable to carry out the purpose of this part, including:
(a) suspending the privilege of transacting self-storage insurance under this part at specific business locations where violations have occurred; or
(b) suspending or revoking the ability of individual employees or authorized representatives to act under the license.
History: En. Sec. 7, Ch. 121, L. 2021.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 25. Montana Title Insurance Act › Part 1. General Provisions › 33-25-103. Repealed

33-25-103. Repealed.
Sec. 22, Ch. 519, L. 1985.
History: En. Sec. 415, Ch. 286, L. 1959; R.C.M. 1947, 40-4601; amd. Sec. 2, Ch. 84, L. 1983.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 25. Montana Title Insurance Act › Part 1. General Provisions › 33-25-106. Application

33-25-106. Application.
(1) This chapter applies to all title insurers, title insurance rating organizations, title insurance producers, applicants for title insurance, title insurance policyholders, and all other persons engaged in title insurance business in this state.
(2) This chapter does not authorize the practice of law by a person who is not licensed to practice law in this state, and this chapter does not authorize the commissioner to regulate the practice of law.
History: En. Sec. 3, Ch. 519, L. 1985; amd. Sec. 3, Ch. 713, L. 1989.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 25. Montana Title Insurance Act › Part 1. General Provisions › 33-25-111. Abstracts of title distinguished from title insurance policy and preliminary report

33-25-111. Abstracts of title distinguished from title insurance policy and preliminary report.
(1) A title insurance policy is not an abstract of title or representation as to the condition of title to the stated property.
(2) A preliminary report is not an abstract of title. The rights, duties, and liabilities applicable to the preparation and issuance of an abstract of title are not applicable to the issuance of a preliminary report. A preliminary report does not constitute a representation as to the condition of title to real property, but constitutes a statement of the terms and conditions upon which the issuer is willing to issue its title insurance policy.
History: En. Sec. 4, Ch. 519, L. 1985.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 25. Montana Title Insurance Act › Part 2. Powers and Duties of Title Insurers › 33-25-202. Sharing of rate proceeds

33-25-202. Sharing of rate proceeds.
Title insurers and insurance producers may share rate proceeds between or among themselves in any combination and may accept commissions as provided in 33-17-1103, unless the sharing of rate proceeds is an unlawful rebate or inducement under this title or is a payment of a forwarding fee or finders fee.
History: En. Sec. 11, Ch. 519, L. 1985; amd. Sec. 61, Ch. 713, L. 1989.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 25. Montana Title Insurance Act › Part 2. Powers and Duties of Title Insurers › 33-25-211. Guaranty fund -- investments

33-25-211. Guaranty fund -- investments.
(1) A title insurer shall establish and maintain the guaranty fund required under 33-2-517 and may invest in necessary plant and equipment and in other investments as authorized under this section.
(2) In addition to other investments eligible under this part, a title insurer may invest and have invested an amount not exceeding 50% of its paid-in capital stock in its title plant, in equipment, and with the commissioner's consent, in stock of abstract companies and of title insurance producers.
(3) Investments authorized by this section may not be credited against the insurer's required guaranty fund or unearned premium reserve provided for under 33-2-517.
(4) A title plant and equipment may not be allowed as an asset in any determination of the insurer's financial condition at a value greater than actual cost.
History: En. Sec. 417, Ch. 286, L. 1959; R.C.M. 1947, 40-4603; Sec. 33-25-101, MCA 1983; redes. 33-25-211 by Code Commissioner, 1985; amd. Sec. 47, Ch. 304, L. 1999.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 25. Montana Title Insurance Act › Part 2. Powers and Duties of Title Insurers › 33-25-212. Rates filed with commissioner

33-25-212. Rates filed with commissioner.
(1) A title insurer shall file with the commissioner a complete schedule of rates to be charged by it for title insurance as to property located in this state. The rates must be all-inclusive of the total charge for insurance as specified in the policy and must be accompanied by supporting data.
(2) A rate may not be excessive, inadequate, or unreasonably discriminatory.
(3) A title insurer may not quote or charge any rate for title insurance other than the applicable rate previously filed by it with the commissioner.
History: En. Sec. 416, Ch. 286, L. 1959; R.C.M. 1947, 40-4602; amd. Sec. 27, Ch. 303, L. 1981; Sec. 33-25-102, MCA 1983; redes. 33-25-212 by Code Commissioner, 1985; amd. Sec. 20, Ch. 399, L. 2007.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 25. Montana Title Insurance Act › Part 2. Powers and Duties of Title Insurers › 33-25-213. Limitations on authority

33-25-213. Limitations on authority.
(1) An insurer that transacts or is licensed to transact a class or kind of insurance other than title insurance is not eligible for the issuance or renewal of a license to transact the business of title insurance in this state and may not transact, underwrite, or issue title insurance. An insurer authorized to transact any combination of kinds of insurance, including title insurance, under an existing certificate of authority may continue to do so until the certificate of authority is renewed effective June 1, 1986.
(2) A title insurer may not engage in the business of guaranteeing payment of the principal or interest of bonds or mortgages.
(3) A title insurer may not engage in the business of guaranteeing the obligations of other persons, except its title insurance producers or approved attorneys in the normal course of its business.
History: En. Sec. 5, Ch. 519, L. 1985; amd. Sec. 3, Ch. 713, L. 1989.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 25. Montana Title Insurance Act › Part 2. Powers and Duties of Title Insurers › 33-25-214. Underwriting standards -- record retention

33-25-214. Underwriting standards -- record retention.
(1) A title insurer may not issue a title insurance policy unless it, its title insurance producer, or an approved attorney has conducted a reasonable search and examination of the title and made a determination of insurability of title in accordance with sound underwriting practices. The title insurer or title insurance producer shall preserve and retain in its files evidence of the examination of title and determination of insurability. The title insurer or title insurance producer may keep original evidence or may establish in the regular course of business a system of recording, copying, or reproducing evidence by any process that accurately and legibly reproduces, or forms a durable medium for reproducing, the contents of the original.
(2) Subsection (1) does not apply to:
(a) a title insurer assuming liability through a contract of reinsurance; or
(b) a title insurer acting as coinsurer if one of the other coinsuring title insurers has complied with subsection (1).
(3) Except as allowed by rules adopted by the commissioner, a title insurer or title insurance producer may not knowingly issue any title insurance product or commitment to insure unless all outstanding enforceable recorded liens or other interests against the property title to be insured are shown.
(4) An insurer issuing a policy in violation of this section is estopped, as a matter of law, to deny the validity of the policy as to any claim or demand of the insured arising under the policy.
History: En. Sec. 6, Ch. 519, L. 1985; amd. Sec. 62, Ch. 713, L. 1989; amd. Sec. 21, Ch. 399, L. 2007.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 25. Montana Title Insurance Act › Part 2. Powers and Duties of Title Insurers › 33-25-215. Report of claims

33-25-215. Report of claims.
A title insurance producer must immediately report every loss claim to the title insurer that issued the policy against which the claim is presented.
History: En. Sec. 9, Ch. 519, L. 1985; amd. Sec. 3, Ch. 713, L. 1989.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 25. Montana Title Insurance Act › Part 2. Powers and Duties of Title Insurers › 33-25-216. Notice of issuance of mortgagee policy

33-25-216. Notice of issuance of mortgagee policy.
(1) A title insurer or title insurance producer that issues a mortgagee's policy of title insurance on a loan made simultaneous to the purchase of all or part of the property securing the loan, when an owner's policy has not been ordered, shall inform the borrower in writing that the mortgagee's policy is to be issued, that the mortgagee's policy does not protect the borrower, and that the borrower may obtain an owner's title insurance policy for the borrower's protection. This notice must be provided, on a form prescribed by the commissioner, before issuance of the mortgagee's policy.
(2) If the borrower elects not to purchase an owner's title insurance policy, the title insurer or title insurance producer shall obtain from the borrower a statement in writing that the notice has been received and that the borrower waives the right to purchase an owner's title insurance policy. If the buyer refuses to provide the statement and waiver, the title insurer or title insurance producer shall indicate the refusal in the file. The statement and waiver must be on a form prescribed by the commissioner and must be retained by the title insurer or title insurance producer for at least 5 years after receipt.
History: En. Sec. 15, Ch. 519, L. 1985; amd. Sec. 3, Ch. 713, L. 1989; amd. Sec. 1237, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 25. Montana Title Insurance Act › Part 3. Regulation by Commissioner of Insurance › 33-25-301. Refusal, suspension, or revocation of title insurance producer's license

33-25-301. Refusal, suspension, or revocation of title insurance producer's license.
(1) In addition to the causes provided in 33-17-1001, the commissioner may refuse to license an applicant or renew the license of a person as a title insurance producer or may suspend or revoke a title insurance producer's license or may fine a title insurance producer or applicant, after notice and opportunity for a hearing, if the commissioner finds that the license applicant or licensee has:
(a) made a material misstatement in an application for a title insurance producer license;
(b) commingled funds belonging to applicants, escrow participants, or others;
(c) intentionally misrepresented the terms of a title insurance policy to an applicant or policyholder or has misrepresented material facts to, concealed material facts from, or made false statements to a party to an escrow, settlement, or closing transaction;
(d) in conducting affairs as a title insurance producer, used coercive practices or demonstrated financial irresponsibility;
(e) aided, abetted, or assisted another person in violating the provisions of this title or a rule adopted by the commissioner.
(2) The commissioner may impose any other appropriate penalty provided for in this title.
(3) The commissioner may issue an order requiring restitution to injured parties and reimbursement of the commissioner's reasonable costs of bringing an administrative action pursuant to this section.
(4) The commissioner may refuse, suspend, or revoke the license of a person licensed as a title insurance producer for the actions described in subsection (1) committed by any individual designated in the license.
History: En. Sec. 10, Ch. 519, L. 1985; amd. Sec. 63, Ch. 713, L. 1989; amd. Sec. 62, Ch. 227, L. 2001; amd. Sec. 31, Ch. 157, L. 2023.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 25. Montana Title Insurance Act › Part 3. Regulation by Commissioner of Insurance › 33-25-302. Disapproval of agency contracts

33-25-302. Disapproval of agency contracts.
(1) The commissioner may disapprove a title agency contract between a title insurance producer and title insurer, upon appropriate notice to the parties to the contract, if the commissioner finds that the contract, together with all amendments and related documents:
(a) does not provide for adequate monitoring of the insurance producer's financial transactions; or
(b) provides for inadequate, unreasonable, or excessive amounts to be paid to or retained by the title insurance producer. Factors the commissioner may consider in this determination include but are not limited to the insurance producer's duties under the contract and the general level of amounts paid to or retained by other title insurance producers in the state performing or assuming comparable duties.
(2) A person may not act as a title insurance producer under an agency contract that has been disapproved by the commissioner.
History: En. Sec. 8, Ch. 519, L. 1985; amd. Sec. 64, Ch. 713, L. 1989; amd. Sec. 1238, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 25. Montana Title Insurance Act › Part 4. Prohibited Practices -- Penalties › 33-25-401. Prohibited practices -- referrals -- splitting charges -- exemptions

33-25-401. Prohibited practices -- referrals -- splitting charges -- exemptions.
(1) Except as provided in subsection (2), a person may not:
(a) give or accept a fee, rebate, or thing of value pursuant to an agreement or understanding that title insurance business will be referred to a title insurance producer; or
(b) give or accept a portion, split, or percentage of a charge made or received for title insurance business in connection with a transaction involving real property in this state, other than for services actually performed.
(2) (a) A person may pay a return on an investment, based on a percentage of an ownership interest in a title insurance agency, if:
(i) at or prior to the time of a referral, a disclosure of the existence of the arrangement is made to the person being referred and, in connection with the referral, the person is provided a written estimate of the charge or range of charges generally made by the title insurance producer to which the person is referred; and
(ii) the person is not required to use a particular insurance producer.
(b) The following arrangements are not a violation of subsection (2)(a)(ii):
(i) an arrangement that requires a buyer, borrower, or seller to pay for the services of an attorney, credit reporting agency, or real estate appraiser chosen by a lender to represent the lender's interest in a real estate transaction; or
(ii) an arrangement by which an attorney or law firm represents a client in a real estate transaction and issues or arranges for the issuance of a policy of title insurance in the transaction directly as insurance producer or through a separate corporate title insurance agency that may be established by that attorney or law firm and operated as an adjunct to the attorney's or firm's law practice.
(c) Failure to disclose a controlled business relationship is not a violation of subsection (2)(a)(i) if the failure was not intentional and resulted from a bona fide error, proven by a preponderance of the evidence.
(3) This section does not prohibit:
(a) the payment of a fee to an attorney for services actually rendered or by a title insurance producer for services actually performed in the issuance of a title insurance policy; or
(b) payment of a bona fide salary, compensation, or other payment for goods or facilities actually furnished or for services actually performed.
History: En. Sec. 12, Ch. 519, L. 1985; amd. Sec. 65, Ch. 713, L. 1989; amd. Sec. 1239, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 25. Montana Title Insurance Act › Part 4. Prohibited Practices -- Penalties › 33-25-402. Prohibited practices -- penalties -- treble damages, court costs, and attorney fees -- injunction

33-25-402. Prohibited practices -- penalties -- treble damages, court costs, and attorney fees -- injunction.
(1) A person found to have violated the provisions of 33-25-401 is jointly and severally liable to the person charged for the title insurance business involved in the violation for an amount equal to three times the amount of the charge paid for the business.
(2) In a civil action based on 33-25-401 and this section, the court may award to the prevailing party court costs plus reasonable attorney fees.
(3) The commissioner may bring a civil action to enjoin a violation of 33-25-401.
History: En. Sec. 13, Ch. 519, L. 1985.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 25. Montana Title Insurance Act › Part 4. Prohibited Practices -- Penalties › 33-25-403. Prohibited practices -- producer and associates -- prohibition of favored insurance producer or insurer

33-25-403. Prohibited practices -- producer and associates -- prohibition of favored insurance producer or insurer.
A producer or associate may not, directly or indirectly, require as a condition, agreement, or understanding of providing another person a loan, loan extension, credit, sale, property, contract, lease, or service that the other person obtain title insurance of any kind from a particular title insurer or title insurance producer. A title insurer or title insurance producer may not knowingly participate in a plan or transaction prohibited by this section.
History: En. Sec. 14, Ch. 519, L. 1985; amd. Sec. 66, Ch. 713, L. 1989.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 26. Suretyship › Part 1. Surety Insurance › 33-26-101. Corporations as sureties

33-26-101. Corporations as sureties.
(1) In all cases where an undertaking or bond, with any number of sureties, is authorized or required by any law of this state, any corporation with a paid-up capital of not less than $100,000, incorporated under the laws of this state for the purpose of making, guaranteeing, or becoming a surety upon bonds or undertakings required or authorized by law, may become and must be accepted as security or as a sole and sufficient security upon the undertaking or bond, and the corporate surety must be subject to all liabilities and entitled to all the rights of natural persons as sureties.
(2) Whenever the liabilities of any corporation described in subsection (1) exceed its assets, the state auditor shall require the deficiency to be paid up in 60 days, and if it is not paid up, then the state auditor shall issue a certificate showing the extent of the deficiency and shall publish the certificate once a week for 3 weeks in a daily paper published in the town or city in which the principal office of the corporation is located, and until the deficiency is paid up, the company may not be accepted as a surety on any undertaking or bond. In estimating the condition of a company, the state auditor shall allow as assets only assets that are allowed under existing laws at the time and shall charge as liabilities, in addition to 80% of the capital stock, all outstanding indebtedness of the company and the premium reserved equal to 50% of the premiums charged by the company on all risks then in force.
History: Ap. p. Sec. 1, p. 70, L. 1893; re-en. Sec. 1900, C. Civ. Proc. 1895; re-en. Sec. 7193, Rev. C. 1907; re-en. Sec. 9826, R.C.M. 1921; Cal. C. Civ. Proc. Sec. 1056; re-en. Sec. 9826, R.C.M. 1935; Sec. 93-8711, R.C.M. 1947; Ap. p. Sec. 2, p. 70, L. 1893; re-en. Sec. 1901, C. Civ. Proc. 1895; re-en. Sec. 7195, Rev. C. 1907; re-en. Sec. 9827, R.C.M. 1921; Cal. C. Civ. Proc. Sec. 1057; re-en. Sec. 9827, R.C.M. 1935; Sec. 93-8712, R.C.M. 1947; R.C.M. 1947, 93-8711, 93-8712(part); amd. Sec. 1240, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 26. Suretyship › Part 1. Surety Insurance › 33-26-102. Requisites of undertakings or bonds of individuals

33-26-102. Requisites of undertakings or bonds of individuals.
In all cases where an undertaking or bond or undertaking with sureties is authorized or required by any law of this state, the officer taking the same must, except in the case of corporations as mentioned in 33-26-101, require the sureties to accompany it with an affidavit that they are each responsible and are residents and householders or freeholders within the state and are each worth the sum specified in the undertaking or bond, over and above all their just debts and liabilities, exclusive of property exempt from execution. When the amount specified in the undertaking or bond exceeds $3,000 and there are more than two sureties thereon, they may state in their affidavits that they are severally worth amounts less than the amount specified in the undertaking or bond if the whole amount be equivalent to that of two sufficient sureties.
History: Ap. p. Sec. 433, p. 131, Bannack Stat.; re-en. Sec. 593, p. 157, Cod. Stat. 1871; re-en. Sec. 523, p. 177, L. 1877; re-en. Sec. 523, 1st Div. Rev. Stat. 1879; re-en. Sec. 540, 1st Div. Comp. Stat. 1887; en. Sec. 1899, C. Civ. Proc. 1895; re-en. Sec. 7192, Rev. C. 1907; re-en. Sec. 9825, R.C.M. 1921; re-en. Sec. 9825, R.C.M. 1935; Sec. 93-8710, R.C.M. 1947; Ap. p. Sec. 2, p. 70, L. 1893; re-en. Sec. 1901, C. Civ. Proc. 1895; re-en. Sec. 7195, Rev. C. 1907; re-en. Sec. 9827, R.C.M. 1921; Cal. C. Civ. Proc. Sec. 1057; re-en. Sec. 9827, R.C.M. 1935; Sec. 93-8712, R.C.M. 1947; R.C.M. 1947, 93-8710, 93-8712(part).
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 26. Suretyship › Part 1. Surety Insurance › 33-26-103. Rights of surety insurer to give bond

33-26-103. Rights of surety insurer to give bond.
A surety insurer authorized as such under this code shall have the power to become the surety on bonds and undertakings required by law, subject to all the rights and liabilities of private persons. This section shall not be deemed to limit in any way the powers, obligations, and liabilities of such insurers as provided for in other provisions of this code.
History: En. Sec. 412, Ch. 286, L. 1959; R.C.M. 1947, 40-4501.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 26. Suretyship › Part 1. Surety Insurance › 33-26-104. Surety insurers as sole surety on official bonds -- release

33-26-104. Surety insurers as sole surety on official bonds -- release.
(1) Whenever any bond, undertaking, recognizance, or other obligation is by law or the charter, ordinance, or rules of any municipality, board, body, organization or public officer required or permitted to be made, given, tendered, or filed, with surety or sureties, and whenever the performance of any act, duty, or obligation or the refraining from any act is required or permitted to be guaranteed, such bond, undertaking, obligation, recognizance, or guaranty may be executed by a surety insurer qualified to act as surety or guarantor as in this code provided. Such execution by such insurer of such bond, undertaking, obligation, recognizance, or guaranty shall be in all respects a full and complete compliance with every requirement of the law, charter, ordinance, or rule that such bond, undertaking, obligation, recognizance, or guaranty shall be executed by one surety or by one or more sureties or that such surety shall be a resident or householder or freeholder, or either or both, or possessed of any other qualifications. All courts, judges, heads of departments, boards, bodies, municipalities, and public officers of every character shall accept and treat accordingly such bond, undertaking, obligation, recognizance, or guaranty when so executed by such insurer, as conforming to and fully and completely complying with every such requirement of every such law, charter, ordinance, or rule.
(2) A surety insurer may be released from its liability on a bond referred to in this section upon the same terms and conditions as are by law prescribed for the release of individual sureties.
History: En. Secs. 413, 414, Ch. 286, L. 1959; R.C.M. 1947, 40-4502, 40-4503.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 26. Suretyship › Part 1. Surety Insurance › 33-26-105. Surety companies not permitted to furnish bonds where indemnity required

33-26-105. Surety companies not permitted to furnish bonds where indemnity required.
No foreign or other surety company shall be permitted to furnish the bond for any state, county, or city official, where such company requires in addition to the payment of reasonable premiums any indemnity or other security.
History: En. Sec. 1, Ch. 6, L. 1911; re-en. Sec. 6234, R.C.M. 1921; re-en. Sec. 6234, R.C.M. 1935; R.C.M. 1947, 40-1725.
2023 Montana Code Annotated › Title 33. Insurance and Insurance Companies › Chapter 26. Suretyship › Part 1. Surety Insurance › 33-26-106. Cost of surety bond to be allowed in account of officer

33-26-106. Cost of surety bond to be allowed in account of officer.
Any court or officer whose duty it is to pass upon the account of any person or corporation required by law to give a bond may, whenever such person or corporation has given any such surety company as surety upon such bond, allow in the settlement of such account a reasonable sum for the expense of procuring such surety.
History: En. Sec. 23, Ch. 139, L. 1909; re-en. Sec. 6228, R.C.M. 1921; re-en. Sec. 6228, R.C.M. 1935; R.C.M. 1947, 40-1724.