Terms Used In Montana Code > Title 33 > Chapter 17 > Part 10 - Revocation, Suspension, and Penalties

• Business entity: means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. See Montana Code 33-17-102
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Fraud: Intentional deception resulting in injury to another.
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Individual: means a natural person. See Montana Code 33-17-102
• Lapse: means the expiration of the license for failure to renew by the biennial renewal date. 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
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Person: means an individual or a business entity. See Montana Code 33-17-102
• Property: means real and personal property. See Montana Code 1-1-205
• 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
• Subpoena: A command to a witness to appear and give testimony.
• Suspend: means to bar the use of a person's license for a period of time. See Montana Code 33-17-102