Montana Code 33-25-215. Report of claims
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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.
Terms Used In Montana Code 33-25-215
- producer: means a person, corporation, partnership, or other business entity, including an officer, director, or owner of 5% or more of the equity or capital thereof, engaged in this state in the trade, business, occupation, or profession of:
(a)buying or selling interests in real property;
(b)making loans secured by interests in real property; or
(c)acting as broker, insurance producer, or representative of a person described in subsection (8)(a) or (8)(b). See Montana Code 33-25-105
- 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