Montana Statutes
§ 33-14-102 — Definitions
Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 14 INSURANCE PREMIUM FINANCE COMPANIES·Part 1 General Provisions
33-14-102 . Definitions. As used in this chapter, the following definitions apply:
(1)"Insurance premium finance company" means a person engaged in the business of entering into premium finance agreements with insureds or of acquiring such premium finance agreements from insurance producers, brokers, or other premium finance companies.
(2)"Licensee" means a premium finance company holding a license issued by the commissioner under this chapter.
(3)"Premium finance agreement" means an agreement by which an insured or prospective insured promises to pay to a premium finance company the amount advanced or to be advanced under the agreement to an insurer or to an insurance producer or broker in payment of premiums on an insurance contract, together with a finance charge as authorized by thi
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Legislative History
En. Sec. 2, Ch. 360, L. 1981; amd. Sec. 1, Ch. 123, L. 1987; amd. Sec. 1, Ch. 713, L. 1989.
Nearby Sections
13
§ 33-14-101
Short Title§ 33-14-102
Definitions§ 33-14-202
Applicant Qualifications -- Hearing§ 33-14-203
License Revocation -- Suspension§ 33-14-303
Delinquency Charges Regulated§ 33-14-304
Cancellation Of Insurance Upon Default§ 33-14-305
Return Of Unearned Premiums§ 33-14-306
Agreement Effective As Security Interest§ 33-14-307
Exceptions