33-17-1101. Place of business — display of license — records. (1) A resident insurance producer shall maintain a place or places of business in this state accessible to the public. A nonresident insurance producer may maintain a place or places of business in this state. An insurance producer’s place or places of business must be a place in which transactions are conducted under the insurance producer’s license. The address of the primary place of business must appear on the license. This section does not prohibit the maintenance of a place of business in a licensee’s place of residence.

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Terms Used In Montana Code 33-17-1101

  • 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
  • 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

(2)The license or, if the insurance producer has more than one place of business, a copy of the license must be conspicuously displayed in a part of the place of business customarily open to the public.

(3)On request, resident and nonresident insurance producers are required to identify themselves and provide their license number to persons with whom they sell, solicit, or negotiate insurance.

(4)The insurance producer shall keep at a place of business complete records pertaining to transactions under the license for a period of at least 3 years after completion of the respective transactions, except that a title insurance producer, as defined in 33-25-105, shall retain records as provided in 33-25-214 and 33-25-216.