Montana State Legislature
State Auditor's Office
STATE AUDITOR'S OFFICE
Troy Downing, Commissioner of Securities & Insurance, State Auditor
The State Auditor's Office is the state government regulator of the insurance and securities industries and advocate for the citizens of Montana. The State Auditor:
- Regulates certain securities activities in Montana, including registration or filing of securities, registration, examination, investigation, and discipline of broker-dealers, investment advisers, or other securities salespersons.
- Regulates certain insurance products, insurers, and insurance producers in Montana as well as certain aspects of health service corporations and health maintenance organizations.
- Collects premium taxes on insurance policies.
- Oversees transfers of insurance premium taxes to certain pension and disability trust funds, and transfer from the general fund for fire department relief associations.
- Oversees a repository of information, including for public bonds issued for major economic development projects, transition bonds, industrial development bonds, or bonds issued by the Montana Facility Finance Authority.
- Oversees the Montana Living Trust Act and the Securities Restitution Assistance Fund.
Boards of other entities to which the State Auditor is statutorily assigned
- Land Board
- Board of Hail Insurance (administratively attached to the Department of Agriculture)
- Montana Reinsurance Association
- Board of State Canvassers
- Financial-Compliance Audit, 20-20, March 2021; no recommendations
- Financial-Compliance Audit, 18-20, March 2019; no recommendations
Statutorily Required Reports to Economic Affairs
- 6/30/2021: Montana Reinsurance Association Annual Report (33-22-1308, MCA)
- 6/30/2021: Montana Reinsurance Association Audited Financial Statements
- 6/30/2022: Montana Reinsurance Association Annual Report (33-22-1308, MCA)
The committee authorized the following agency proposed legislation:
- Reinsurance Program Updates
- Air Ambulance Updates
- Emergency Services Coverage Updates
- Repeal Insurance Continuing Education Council
- Bail Bonds
- Cabin Site Sales
- Generally Revise Laws Enforced by the State Auditor