Montana Code 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.
Terms Used In Montana Code 33-24-303
- Location: means any physical location in this state. See Montana Code 33-24-302
- 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. See Montana Code 33-24-302
- 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. See Montana Code 33-24-302
- 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
- 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. See Montana Code 33-24-302
(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.