Montana § 33-14-303 Delinquency Charges Regulated

Montana Statutes

§ 33-14-303 — Delinquency Charges Regulated

Montana § 33-14-303

Title 33INSURANCE AND INSURANCE COMPANIES

Ch. 14INSURANCE PREMIUM FINANCE COMPANIES

Part 3Operation and Regulation

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Bluebook

Mont. Code Ann. § 33-14-303 (2026).

Text

33-14-303 . Delinquency charges regulated.

(1)A premium finance agreement may provide for the payment by the insured of a delinquency charge of $1 to a maximum of 5% of the delinquent installment but not to exceed $5 on any installment that is in default for 5 days or more.

(2)If the default results in the cancellation of any insurance contract listed in the agreement, the agreement may provide for payment by the insured of a cancellation charge equal to the difference between any delinquency charge or default charge imposed with respect to the installment in default and $5. A premium finance agreement may also provide for the payment of attorney's fees and court costs if the agreement is referred for collection to an attorney not a salaried employee of the insurance premium finance comp

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33-14-303 . Delinquency charges regulated. (1) A premium finance agreement may provide for the payment by the insured of a delinquency charge of $1 to a maximum of 5% of the delinquent installment but not to exceed $5 on any installment that is in default for 5 days or more.
(2) If the default results in the cancellation of any insurance contract listed in the agreement, the agreement may provide for payment by the insured of a cancellation charge equal to the difference between any delinquency charge or default charge imposed with respect to the installment in default and $5. A premium finance agreement may also provide for the payment of attorney's fees and court costs if the agreement is referred for collection to an attorney not a salaried employee of the insurance premium finance company.