Montana State Legislature

STATE AUDITOR'S OFFICE

Agency Leadership

Troy Downing, Commissioner of Securities & Insurance, State Auditor
Elected Official

Agency Website

csimt.gov

Agency Overview

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

Legislative Audits

• 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)

July 2022:

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

September 2021:

• Agency Activity Update - September 2021
• State Auditor's Office Overview
• CSI report on passed legislation & status of rulemaking