Montana Statutes
§ 33-25-213 — Limitations On Authority
Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 25 MONTANA TITLE INSURANCE ACT·Part 2 Powers and Duties of Title Insurers
33-25-213 . Limitations on authority.
(1)An insurer that transacts or is licensed to transact a class or kind of insurance other than title insurance is not eligible for the issuance or renewal of a license to transact the business of title insurance in this state and may not transact, underwrite, or issue title insurance. An insurer authorized to transact any combination of kinds of insurance, including title insurance, under an existing certificate of authority may continue to do so until the certificate of authority is renewed effective June 1, 1986.
(2)A title insurer may not engage in the business of guaranteeing payment of the principal or interest of bonds or mortgages.
(3)A title insurer may not engage in the business of guaranteeing the obligations of other persons, except its
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Legislative History
En. Sec. 5, Ch. 519, L. 1985; amd. Sec. 3, Ch. 713, L. 1989.
Nearby Sections
15
§ 33-25-101
Renumbered 33-25-211§ 33-25-102
Renumbered 33-25-212§ 33-25-103
Repealed§ 33-25-104
Short Title§ 33-25-105
Definitions§ 33-25-106
Application§ 33-25-107
Through 33-25-110 Reserved§ 33-25-202
Sharing Of Rate Proceeds§ 33-25-203
Through 33-25-210 Reserved§ 33-25-211
Guaranty Fund -- Investments§ 33-25-212
Rates Filed With Commissioner§ 33-25-213
Limitations On Authority§ 33-25-214
Underwriting Standards -- Record Retention