Terms Used In Montana Code > Title 33 > Chapter 17 > Part 11 - Conduct of Business by Insurance Producers

• Business entity: means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. See Montana Code 33-17-102
• Fiduciary: A trustee, executor, or administrator.
• 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
• Negotiate: means the act of conferring directly with or offering advice directly to a purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms, or conditions of the contract if the person engaged in negotiation either sells insurance or obtains insurance from insurers for purchasers. See Montana Code 33-17-102
• 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
• Sell: means to exchange a contract of insurance by any means, for money or the equivalent, on behalf of an insurance company. See Montana Code 33-17-102
• Solicit: means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance. 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
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}