Montana Code 61-12-303. Requirements for license
61-12-303. Requirements for license. (1) The commissioner may not issue a license to a company until the company has filed the following:
Terms Used In Montana Code 61-12-303
- Commissioner: means the commissioner of insurance of the state of Montana or the commissioner's assistants or deputies or other persons authorized to act for the commissioner. See Montana Code 61-12-301
- Company: means any person, firm, partnership, company, association, or corporation engaged in selling, furnishing, or procuring, either as principal or agent, for a consideration, motor club service. See Montana Code 61-12-301
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Oath: A promise to tell the truth.
- Oath: includes an affirmation or declaration. See Montana Code 1-1-201
- 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
(a)a formal application in the form and detail that the commissioner may require, executed under oath by its president or other principal officer;
(b)a copy of the form of its contract;
(c)a certified copy of its charter or articles of incorporation and its bylaws, if any;
(d)a financial statement in the form and detail that the commissioner may require, executed on oath by its president or other principal officer;
(e)a certificate from the commissioner that it has complied with 61-12-304 in all cases in which a deposit of cash or a bond is required by this part;
(f)if the company is a corporation, a certificate from the secretary of state that the company has complied with this state’s corporate laws.
(2)The commissioner may not issue a license to a company until the company has paid to the commissioner $100 as an annual license fee or the pro rata portion of the $100 necessary to be paid to the end of the current calendar year from the date of the application for the license.
(3)The commissioner may not issue a license to a company until the company has satisfied by an examination and evidence that the commissioner may require that the company has complied with the laws of the state, that its management is trustworthy and competent, and that the company is financially responsible.