61-12-303. Requirements for license. (1) The commissioner may not issue a license to a company until the company has filed with him the following:
     (a) a formal application in such form and detail as the commissioner may require, executed under oath by its president or other principal officer;
     (b) a copy of the form of its contract;
     (c) a certified copy of its charter or articles of incorporation and its bylaws, if any;
     (d) a financial statement in such form and detail as the commissioner may require, executed on oath by its president or other principal officer;
     (e) a certificate from the commissioner that it has complied with 61-12-304 in all cases where a deposit of cash or a bond is required by this part;
     (f) a certificate from the corporation commissioner of the state of Montana, in the event it be a corporation, that it has complied with the corporation laws of said state.
     (2) The commissioner may not issue a license to a company until the company has paid to the commissioner $100 as an annual license fee, or the pro rata portion thereof necessary to be paid to the end of the current calendar year from the date of the application for the license.
     (3) The commissioner may not issue a license to a company until the company has satisfied him by an examination and evidence the commissioner may require, in his discretion, that the company has complied with the laws of the state of Montana and that its management is trustworthy and competent.

     History: En. Sec. 3, Ch. 131, L. 1931; re-en. Sec. 4211.3, R.C.M. 1935; R.C.M. 1947, 66-1103; amd. Sec. 19, Ch. 798, L. 1991.