Montana State Laws - Life and Health
Laws
The Commissioner enforces and executes the duties imposed by the - answer
Insurance Code. All certificates and licenses issued by the Commissioner must bear the
Commissioner's seal.
The Commissioner and any person they appoint/employ may not be financially
interested, directly or indirectly, in any insurer, insurance agency, or insurance
transaction except - answeras a policyholder or claimant under a policy.
If the unfair or deceptive practice has not been discontinued, the Commissioner may: -
answerRestrain such person from the unfair or deceptive practice
Order such person to desist from such practice
Any person who violates a cease and desist order issued is subject to a civil penalty of
up to - answer$25,000, except that producers and adjusters may be fined up to $5,000
per violation.
The Commissioner may conduct an examination of any insurer as often as - answerthe
Commissioner deems appropriate, but no less frequently than at least once every 5
years.
The Commissioner may examine at their discretion the accounts/records of any
producer or adjuster.
In lieu of examining any foreign or alien insurer licensed in this state, the Commissioner
may accept an examination report on the company prepared by - answerthe insurance
department for the company's home state
The foreign examination reports may only be accepted if: - answerThe insurance
department was at the time of the examination accredited under the NAIC's financial
regulation standards and accreditation program
The examination is performed under the supervision of an accredited state insurance
department
Any refusal of cooperation with the examiners is grounds for - answersuspension,
refusal, or nonrenewal of any license or authority held by the company.
The Commissioner or any appointed examiner has the power to issue subpoenas,
administer oaths, and examine under oath any person concerning any matter pertinent
to the examination - answerIf a person fails or refuses to obey a subpoena, the
, Commissioner may petition the court of jurisdiction and the court may order the witness
to appear and testify or to produce documentary evidence. Failure to obey the court
order is punishable as contempt of court.
Once an examination is completed, the examiner's report must be filed with the
Commissioner within - answer60 days.
Once received by the Commissioner, the report must be provided to the examined
company, which will then have ______ to make a written submission or rebuttal
regarding any matters contained in the report. - answer30 days
Within 30 days of the end of the period allowed for the company to submit its rebuttals,
the Commissioner will accept the report as filed or with modifications/corrections. If the
company is found to be in violation of any law, regulation, or prior order, the
Commissioner may - answerorder the company to take any necessary action to end the
violation
If the Commissioner rejects the examination report, they must direct the examiners to
The Commissioner may also hold an investigatory hearing with no less than 20 days'
notice to the company, to obtain additional data, documentation, information, and
testimony. - answerreopen the examination to obtain additional data, documentation,
information, or testimony.
If the Commissioner rejects the examination report, The Commissioner may also hold
an investigatory hearing with no less than _______ notice to the company, to obtain
additional data, documentation, information, and testimony. - answer20 days notice
Once a final report has been adopted and provided to the examined company, it must
file an affidavit that the report and any related orders has been received. This must be
done within ______ of receiving the final examination report. - answer30 days
Any person who destroys any books, records, or documents required to be kept by an
insurer pursuant to law will be punished by - answera fine of up to $25,000, except that
the fine imposed upon insurance producers or adjusters may not exceed $5,000 per
violation. The Commissioner may also revoke the Certificate of Authority of the insurer.
Producers must keep records of each insurance transaction for at least _____ after the
each transaction. - answer3 years
The Commissioner's orders and notices are not effective unless in writing, and signed
by the Commissioner or their authority. Each order must state: - answerIts effective
date, intent or purpose
The grounds on which the order is based
The Montana Insurance Code provisions relating to the action taken
Laws
The Commissioner enforces and executes the duties imposed by the - answer
Insurance Code. All certificates and licenses issued by the Commissioner must bear the
Commissioner's seal.
The Commissioner and any person they appoint/employ may not be financially
interested, directly or indirectly, in any insurer, insurance agency, or insurance
transaction except - answeras a policyholder or claimant under a policy.
If the unfair or deceptive practice has not been discontinued, the Commissioner may: -
answerRestrain such person from the unfair or deceptive practice
Order such person to desist from such practice
Any person who violates a cease and desist order issued is subject to a civil penalty of
up to - answer$25,000, except that producers and adjusters may be fined up to $5,000
per violation.
The Commissioner may conduct an examination of any insurer as often as - answerthe
Commissioner deems appropriate, but no less frequently than at least once every 5
years.
The Commissioner may examine at their discretion the accounts/records of any
producer or adjuster.
In lieu of examining any foreign or alien insurer licensed in this state, the Commissioner
may accept an examination report on the company prepared by - answerthe insurance
department for the company's home state
The foreign examination reports may only be accepted if: - answerThe insurance
department was at the time of the examination accredited under the NAIC's financial
regulation standards and accreditation program
The examination is performed under the supervision of an accredited state insurance
department
Any refusal of cooperation with the examiners is grounds for - answersuspension,
refusal, or nonrenewal of any license or authority held by the company.
The Commissioner or any appointed examiner has the power to issue subpoenas,
administer oaths, and examine under oath any person concerning any matter pertinent
to the examination - answerIf a person fails or refuses to obey a subpoena, the
, Commissioner may petition the court of jurisdiction and the court may order the witness
to appear and testify or to produce documentary evidence. Failure to obey the court
order is punishable as contempt of court.
Once an examination is completed, the examiner's report must be filed with the
Commissioner within - answer60 days.
Once received by the Commissioner, the report must be provided to the examined
company, which will then have ______ to make a written submission or rebuttal
regarding any matters contained in the report. - answer30 days
Within 30 days of the end of the period allowed for the company to submit its rebuttals,
the Commissioner will accept the report as filed or with modifications/corrections. If the
company is found to be in violation of any law, regulation, or prior order, the
Commissioner may - answerorder the company to take any necessary action to end the
violation
If the Commissioner rejects the examination report, they must direct the examiners to
The Commissioner may also hold an investigatory hearing with no less than 20 days'
notice to the company, to obtain additional data, documentation, information, and
testimony. - answerreopen the examination to obtain additional data, documentation,
information, or testimony.
If the Commissioner rejects the examination report, The Commissioner may also hold
an investigatory hearing with no less than _______ notice to the company, to obtain
additional data, documentation, information, and testimony. - answer20 days notice
Once a final report has been adopted and provided to the examined company, it must
file an affidavit that the report and any related orders has been received. This must be
done within ______ of receiving the final examination report. - answer30 days
Any person who destroys any books, records, or documents required to be kept by an
insurer pursuant to law will be punished by - answera fine of up to $25,000, except that
the fine imposed upon insurance producers or adjusters may not exceed $5,000 per
violation. The Commissioner may also revoke the Certificate of Authority of the insurer.
Producers must keep records of each insurance transaction for at least _____ after the
each transaction. - answer3 years
The Commissioner's orders and notices are not effective unless in writing, and signed
by the Commissioner or their authority. Each order must state: - answerIts effective
date, intent or purpose
The grounds on which the order is based
The Montana Insurance Code provisions relating to the action taken
