Montana § 33-17-511 Consideration For Services Only On Written Memorandum

Montana Statutes

§ 33-17-511 — Consideration For Services Only On Written Memorandum

Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 17 INSURANCE PRODUCERS, ADJUSTERS, CONSULTANTS, AND ADMINISTRATORS·Part 5 Consultants

33-17-511 . Consideration for services only on written memorandum. A person licensed as an insurance consultant under this part may not receive a fee for examining, appraising, reviewing, or evaluating an insurance policy, a bond, an annuity, or a pension or profit-sharing contract, plan, or program or for making recommendations or giving advice with regard to any of the above unless the compensation is based upon a written memorandum that includes the insurance consultant's Montana insurance license number, is signed by the party to be charged, and specifies or clearly defines services to be provided and the amount or extent of the compensation. An insurance consultant shall retain a copy of every memorandum or contract for not less than 3 years after those services have been fully perfor

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33-17-511 . Consideration for services only on written memorandum. A person licensed as an insurance consultant under this part may not receive a fee for examining, appraising, reviewing, or evaluating an insurance policy, a bond, an annuity, or a pension or profit-sharing contract, plan, or program or for making recommendations or giving advice with regard to any of the above unless the compensation is based upon a written memorandum that includes the insurance consultant's Montana insurance license number, is signed by the party to be charged, and specifies or clearly defines services to be provided and the amount or extent of the compensation. An insurance consultant shall retain a copy of every memorandum or contract for not less than 3 years after those services have been fully performed.

Montana § 33-17-511 (Consideration For Services Only On Written Memorandum) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

En. 40-3345 by Sec. 7, Ch. 144, L. 1975; R.C.M. 1947, 40-3345; amd. Sec. 41, Ch. 713, L. 1989; amd. Sec. 21, Ch. 380, L. 2003; amd. Sec. 7, Ch. 399, L. 2007.