61-12-306. Revocation of license. If the commissioner at any time for cause shown and after a hearing determines that a company has violated any provision of this part, that it is insolvent or that its assets are less than its liabilities, that it or its officers refuse to submit to an examination, that it is transacting business fraudulently, or that its management or business methods are improper or hazardous to the holders of its service contracts, the commissioner shall revoke or suspend its license and shall give notice of the suspension or revocation to the public in a manner that the commissioner considers proper.

Terms Used In Montana Code 61-12-306

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Revocation: means the termination by action of the department of a person's driver's license, privilege to drive a motor vehicle on the public highways, and privilege to apply for and be issued a driver's license for a period of time designated by law, during which the license or privilege may not be renewed, restored, or exercised. See Montana Code 61-1-101
  • Suspension: means the temporary withdrawal by action of the department of a person's driver's license, privilege to drive a motor vehicle on the public highways, and privilege to apply for or be issued a driver's license for a period of time designated by law. See Montana Code 61-1-101
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