Montana Code 33-2-320. Surplus lines insurance producer fee
Current as of: 2023 | Check for updates
|
Other versions
33-2-320. Surplus lines insurance producer fee. (1) A surplus lines insurance producer may collect a flat fee per policy for business placed in the surplus lines insurance market. The fee may not exceed:
Terms Used In Montana Code 33-2-320
- Surplus lines insurance: means any property, casualty, or inland marine insurance permitted in a state to be placed directly or through a surplus lines insurance producer with an unauthorized insurer eligible to accept the insurance. See Montana Code 33-2-301
(a)$50 for a personal lines insurance policy; or
(b)$100 for a commercial lines insurance policy.
(2)The fees allowed under this section are not considered part of the premium charged to the insured and do not fall within the definition of premium provided in 33-15-102.
(3)The fees allowed under this section apply only to surplus lines insurance producers transacting surplus lines insurance business.