UNAPPROVED DRAFT BILL -- Subject to Change Without Notice!
BILL NO.
INTRODUCED BY
(Primary Sponsor)
A BILL FOR AN ACT ENTITLED: "AN ACT ALLOWING AN INSURANCE PRODUCER TO KEEP RECORDS IN A RETRIEVABLE FORM AT A LOCATION OTHER THAN A PLACE OF BUSINESS; AMENDING SECTION 33-17-1101, MCA; AND PROVIDING AN IMMEDIATE EFFECTIVE DATE."
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
Section 1. Section 33-17-1101, MCA, is amended to read:
"33-17-1101. Place of business -- display of license -- records. (1) A resident insurance producer shall maintain a place or places of business in this state accessible to the public. A nonresident insurance producer may maintain a place or places of business in this state. An insurance producer's place or places of business must be a place in which transactions are conducted under the insurance producer's license. The street address or addresses of the place or places of business must appear upon the license. This section does not prohibit the maintenance of a place of business in a licensee's place of residence.
(2) The license must be conspicuously displayed in a place of business at the street address shown on the license in a part of the place of business customarily open to the public.
(3) The Except for records that exist elsewhere in a retrievable form, the insurance producer shall keep at a place of
business complete records pertaining to transactions under the license for a period of at least 3 years after completion of the
respective transactions, except that a title insurance producer, as defined in 33-25-105, shall retain records as provided in
33-25-214 and 33-25-216."
NEW SECTION. Section 2. Effective date. [This act] is effective on passage and approval.
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Latest Version of LC 1180 (LC1180.01)
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