Montana Code 33-24-206. Application for vendor license — fees
33-24-206. Application for vendor license — fees. (1) An applicant for a license under this part shall file with the commissioner an application on forms prescribed by the commissioner.
Terms Used In Montana Code 33-24-206
- Location: means any physical location in this state or any website, call center site, or similar location directed to residents of this state. See Montana Code 33-24-202
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Portable electronics: means electronic devices that are portable in nature and their accessories. See Montana Code 33-24-202
- Portable electronics insurance: means insurance providing coverage for the repair or replacement of portable electronics that may provide coverage for portable electronics against loss, theft, inoperability due to mechanical failure, malfunction, damage, or other similar causes of loss. See Montana Code 33-24-202
- Portable electronics transaction: means :
(a)the sale or lease of portable electronics by a vendor to a customer; or
(b)the sale of a service related to the use of portable electronics by a vendor to a customer. See Montana Code 33-24-202
- 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
- Vendor: means a person in the business of engaging in portable electronics transactions directly or indirectly. See Montana Code 33-24-202
(2)The application must provide:
(a)the name, residence address, and other information required by the commissioner for an employee or officer of the vendor that is designated by the applicant as the person responsible for the vendor’s compliance with the requirements of this part, and if the vendor derives more than 50% of its revenue from the sale of portable electronics insurance, the information required by this subsection (2)(a) must be provided for all officers, directors, and shareholders of record having beneficial ownership of 10% or more of any class of securities registered under federal securities law; and
(b)the location of the applicant’s home office.
(3)Any vendor engaging in portable electronics insurance transactions on or before August 1, 2013, shall apply for licensure within 90 days of the application being made available by the commissioner. Any applicant commencing operations after August 1, 2013, shall obtain a license prior to offering portable electronics insurance.
(4)Initial licenses issued under this part are valid for a period of 24 months.
(5)Each vendor of portable electronics licensed under this part shall pay to the commissioner a fee determined by the commissioner as follows:
(a)for a vendor that is engaged in portable electronics transactions at 10 or fewer locations in the state, the fee may not exceed $100 for an initial license or for each renewal; and
(b)for a vendor that is engaged in portable electronics transaction at more than 10 locations in the state, the fee may not exceed $1,000 for an initial license or $500 for each renewal.