Montana Code 33-2-104. Representing or aiding unauthorized insurer prohibited
33-2-104. Representing or aiding unauthorized insurer prohibited. (1) A person may not directly or indirectly act as insurance producer in this state for, or otherwise represent or aid on behalf of another, any insurer not authorized to transact insurance in this state in the solicitation, negotiation, or effectuation of insurance or of annuity contracts, inspection of risks, fixing of rates, investigation or adjustment of losses, collection of premiums, or any other transaction of insurance with respect to subjects of insurance resident, located or to be performed in this state.
Terms Used In Montana Code 33-2-104
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Service of process: The service of writs or summonses to the appropriate party.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(2)This section does not apply to:
(a)acceptance of service of process by the commissioner under 33-1-613; or
(b)surplus lines insurance and other transactions for which a certificate of authority is not required of an insurer as stated in 33-2-102.