Terms Used In Montana Code > Title 33 > Chapter 17 > Part 5 - Consultants

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Consultant: means an individual who for a fee examines, appraises, reviews, evaluates, makes recommendations, or gives advice regarding an insurance policy, annuity, or pension contract, plan, or program. See Montana Code 33-17-102
• Consultant license: means a document issued by the commissioner that authorizes an individual to act as an insurance consultant. See Montana Code 33-17-102
• Contract: A legal written agreement that becomes binding when signed.
• Home state: means the District of Columbia or any state or territory of the United States in which a person licensed under this chapter maintains a principal place of residence or a principal place of business. See Montana Code 33-17-102
• Individual: means a natural person. See Montana Code 33-17-102
• License: means a document issued by the commissioner that authorizes a person to act as an insurance producer for the lines of authority specified in the document. See Montana Code 33-17-102
• Person: means an individual or a business entity. See Montana Code 33-17-102
• 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