Montana Code 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.
Terms Used In Montana Code 33-24-306
- Authorized representative: means an individual authorized by an operator to sell or offer self-storage insurance coverage in accordance with this part. See Montana Code 33-24-302
- 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
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- 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) 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.