Montana § 33-25-214 Underwriting Standards -- Record Retention

Montana Statutes

§ 33-25-214 — Underwriting Standards -- Record Retention

Montana § 33-25-214

Title 33INSURANCE AND INSURANCE COMPANIES

Ch. 25MONTANA TITLE INSURANCE ACT

Part 2Powers and Duties of Title Insurers

This text of Montana § 33-25-214 (Underwriting Standards -- Record Retention) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 33-25-214 (2026).

Text

33-25-214 . Underwriting standards -- record retention.

(1)A title insurer may not issue a title insurance policy unless it, its title insurance producer, or an approved attorney has conducted a reasonable search and examination of the title and made a determination of insurability of title in accordance with sound underwriting practices. The title insurer or title insurance producer shall preserve and retain in its files evidence of the examination of title and determination of insurability. The title insurer or title insurance producer may keep original evidence or may establish in the regular course of business a system of recording, copying, or reproducing evidence by any process that accurately and legibly reproduces, or forms a durable medium for reproducing, the contents of the ori

Free access — add to your briefcase to read the full text and ask questions with AI

33-25-214 . Underwriting standards -- record retention. (1) A title insurer may not issue a title insurance policy unless it, its title insurance producer, or an approved attorney has conducted a reasonable search and examination of the title and made a determination of insurability of title in accordance with sound underwriting practices. The title insurer or title insurance producer shall preserve and retain in its files evidence of the examination of title and determination of insurability. The title insurer or title insurance producer may keep original evidence or may establish in the regular course of business a system of recording, copying, or reproducing evidence by any process that accurately and legibly reproduces, or forms a durable medium for reproducing, the contents of the original.
(2) Subsection (1) does not apply to:
(a) a title insurer assuming liability through a contract of reinsurance; or
(b) a title insurer acting as coinsurer if one of the other coinsuring title insurers has complied with subsection (1).
(3) Except as allowed by rules adopted by the commissioner, a title insurer or title insurance producer may not knowingly issue any title insurance product or commitment to insure unless all outstanding enforceable recorded liens or other interests against the property title to be insured are shown.
(4) An insurer issuing a policy in violation of this section is estopped, as a matter of law, to deny the validity of the policy as to any claim or demand of the insured arising under the policy.