Terms Used In Montana Code > Title 33 > Chapter 2 > Part 14 - Certificates of Insurance Model Act

• Certificate of insurance: means a document or instrument, regardless of how titled or described, that is prepared or issued by an insurer or insurance producer as evidence of property or casualty insurance coverage. See Montana Code 33-2-1402
• 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.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Insurance producer: means a person required to be licensed under the laws of this state to sell, solicit, or negotiate property or casualty insurance. See Montana Code 33-2-1402
• Insurer: means an organization that issues property or casualty insurance. See Montana Code 33-2-1402
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means an individual, partnership, corporation, association, or other legal entity, including any government or governmental subdivision or agency. See Montana Code 33-2-1402
• Property: means real and personal property. See Montana Code 1-1-205
• 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