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Montana Title 33. Insurance and Insurance Companies § 33-24-306. Application for operator license--fees

Current as of January 01, 2024 | Updated by Findlaw Staff

(1) An applicant for a license under this part shall file with the commissioner an application on forms prescribed by the commissioner. The applicant may be a resident or nonresident of this state.

(2)(a) The application must provide:

(i) the name, residence address, and other information required by the commissioner for an authorized representative of the operator or supervising entity that is designated by the applicant as the person responsible for the operator's compliance with the requirements of this part; and

(ii) the location of the operator's home office.

(b) If the operator derives more than 50% of its revenue from the sale of self-storage insurance, the information required by subsection (2)(a) must be provided for all officers, directors, and shareholders of record having beneficial ownership of 10% or more of any class of securities registered under federal securities law.

(3) Initial licenses issued under this part are valid for a period of 24 months.

(4) Each operator licensed under this part shall pay to the commissioner a fee determined by the commissioner as follows:

(a) for an operator that sells self-storage insurance at 10 or fewer locations in the state, the fee may not exceed $100 for an initial license or for each renewal; and

(b) for an operator that sells self-storage insurance at more than 10 locations in the state, the fee may not exceed $250 for an initial license or $100 for each renewal.

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Cite this article: FindLaw.com - Montana Title 33. Insurance and Insurance Companies § 33-24-306. Application for operator license--fees - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-33-insurance-and-insurance-companies/mt-st-33-24-306/

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