Licensing Requirements: Surplus lines brokers are required to be licensed in Montana. Mont. Code Ann. § 33-2-305. To be eligible for a resident surplus lines insurance producer license, the person
Does the state impose a fiduciary obligation on producers with respect to the handling of client funds (e.g. funds, monies, premiums and return premiums)? All insurance premiums or return premiums
May producers both charge a fee and collect a commission in connection with transactions and services provided to a particular client? Licensed insurance consultants may charge a fee in addition
Any fee charged by a consultant must be pursuant to a written agreement that includes the insurance consultant’s Montana insurance license number, is signed by the party to be charged,
What entities are covered? “Any person, or business that conducts business in Montana and that owns or licenses computerized data that includes personal information.” § 30-14-1704(1). Is there a requirement
