Montana Code 33-1-402. Examination of insurance producers, managers, and promoters
33-1-402. Examination of insurance producers, managers, and promoters. For the purpose of ascertaining compliance with this code, the commissioner may, as often as the commissioner considers advisable, examine the accounts, records, documents, and transactions pertaining to or affecting its insurance affairs or proposed insurance affairs of:
Terms Used In Montana Code 33-1-402
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Trustee: A person or institution holding and administering property in trust.
(1)an insurance producer, surplus lines insurance producer, general insurance producer, adjuster, or public adjuster;
(2)a person having a contract under which the person enjoys in fact the exclusive or dominant right to manage or control an insurer;
(3)a person holding the shares of voting stock or policyholder proxies of a domestic insurer, for the purpose of controlling the management of the domestic insurer, as voting trustee or otherwise;
(4)a person engaged in or proposing to be engaged in or assisting in the promotion or formation of a domestic insurer or insurance holding corporation or corporation to finance a domestic insurer or the production of its business.