Current as of April 27, 2021 | Updated by FindLaw Staff
Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
(1) The commissioner may disapprove a title agency contract between a title insurance producer and title insurer, upon appropriate notice to the parties to the contract, if the commissioner finds that the contract, together with all amendments and related documents:
(a) does not provide for adequate monitoring of the insurance producer's financial transactions; or
(b) provides for inadequate, unreasonable, or excessive amounts to be paid to or retained by the title insurance producer. Factors the commissioner may consider in this determination include but are not limited to the insurance producer's duties under the contract and the general level of amounts paid to or retained by other title insurance producers in the state performing or assuming comparable duties.
(2) A person may not act as a title insurance producer under an agency contract that has been disapproved by the commissioner.
Cite this article: FindLaw.com - Montana Title 33. Insurance and Insurance Companies § 33-25-302. Disapproval of agency contracts - last updated April 27, 2021 | https://codes.findlaw.com/mt/title-33-insurance-and-insurance-companies/mt-code-ann-sect-33-25-302.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?