Senate Bill No. 245

Introduced By devlin, harp

A Bill for an Act entitled: An Act allowing insurance producers to maintain more than one place of business in the state; and amending section

33-17-1101, MCA.

Be it enacted by the Legislature of the State of Montana:

Section 1.  Section 33-17-1101, MCA, is amended to read:

"33-17-1101.   Place of business -- display of license -- records. (1) Every A resident insurance producer shall have and 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 he principally conducts transactions are conducted under his the insurance producer's license. The street address or addresses of the place or places of business must appear upon the license. Nothing in this This section prohibits does not prohibit the maintenance of the a place of business in the a licensee's place of residence.

(2)  The license must be conspicuously displayed in the a place of business at the street address shown on the license in a part of the place of business customarily open to the public.

(3)  The insurance producer shall keep at his a place of business complete records pertaining to transactions under his 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."

-END-