Montana Code 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.
Terms Used In Montana Code 33-25-212
- Property: means real and personal property. See Montana Code 1-1-205
- Rate: means fees for:
(a)issuing a title insurance policy, including any service charge or fee for the issuance;
(b)abstracting, searching, and examining title to real property when prepared or issued in contemplation of or in conjunction with the issuance of a title insurance policy; and
(c)preparing or issuing preliminary reports, commitments, binders, or similar products prepared or issued in contemplation of or in conjunction with the issuance of a title insurance policy. See Montana Code 33-25-105
- 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
- Title insurer: means an insurer formed and authorized under the laws of this state to transact the business of title insurance in this state or a foreign or alien insurer so authorized. See Montana Code 33-25-105
(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.