1. MCA Contents
  2. TITLE 33
  3. CHAPTER 2
  4. Part 3
  5. 33-2-306 Surplus lines insurance producer's authority under license -- acceptance of business from other insurance producers

Montana Code Annotated 2017

TITLE 33. INSURANCE AND INSURANCE COMPANIES

CHAPTER 2. REGULATION OF INSURANCE COMPANIES

Part 3. Authorization of Surplus Lines Insurers, Insurance Producers, and Insurance

Surplus Lines Insurance Producer's Authority Under License -- Acceptance Of Business From Other Insurance Producers

33-2-306. Surplus lines insurance producer's authority under license -- acceptance of business from other insurance producers. (1) Under a surplus lines insurance producer's license, the licensee may place surplus lines insurance, in compliance with this part, with a foreign or alien insurer not authorized to transact insurance in this state and may act as a surplus lines insurance producer in this state for the insurer.

(2) The surplus lines insurance producer may accept surplus lines insurance from a licensed insurance producer of an authorized insurer or, if the commissioner agrees in advance, through an individual or business entity that has not been appointed as an insurance producer in this state and may provide compensation for the service, notwithstanding 33-17-1103.

(3) A surplus lines insurance producer who places or renews surplus lines insurance in accordance with subsection (1) may collect an inspection fee for the actual costs of inspecting the risk to be covered.

History: En. Sec. 190, Ch. 286, L. 1959; R.C.M. 1947, 40-3415; amd. Sec. 7, Ch. 537, L. 1987; amd. Sec. 4, Ch. 285, L. 1989; amd. Secs. 1, 2, Ch. 713, L. 1989; amd. Sec. 2, Ch. 180, L. 1991; amd. Sec. 1080, Ch. 56, L. 2009; amd. Sec. 5, Ch. 271, L. 2009; amd. Sec. 3, Ch. 313, L. 2009.