33-2-120. Notice of suspension or revocation -- effect upon producer's authority. (1) Upon suspending or revoking an insurer's certificate of authority, the commissioner shall give notice to the insurer and to its insurance producers in this state of record in the commissioner's office.
(2) The suspension or revocation must automatically suspend or revoke, as the case may be, the authority of all insurance producers to act as insurance producers of the insurer in this state, and the commissioner shall state that requirement in the notice to insurance producers provided for in subsection (1).
(3) The commissioner may also publish notice of revocation in one or more newspapers of general circulation published in this state.
History: En. Sec. 61, Ch. 286, L. 1959; R.C.M. 1947, 40-2816; amd. Sec. 1, Ch. 713, L. 1989; amd. Sec. 1073, Ch. 56, L. 2009.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 2. Regulation of Insurance Companies
Part 1. Authorization of Insurers
33-2-101. Certificate of authority required
33-2-102. Exceptions to certificate of authority requirement
33-2-103. Admission for investment only
33-2-104. Representing or aiding unauthorized insurer prohibited
33-2-105. Suits by unauthorized insurers prohibited
33-2-106. General eligibility of insurers
33-2-108. Combinations of insuring powers
33-2-109. Capital or surplus funds required
33-2-110. Special surplus required
33-2-112. Management qualifications and affiliations
33-2-113. and 33-2-114 reserved
33-2-115. Application for certificate of authority
33-2-116. Issuance or refusal of certificate of authority -- state ownership of certificate
33-2-117. Renewal, expiration, reinstatement, and amendment of certificate of authority
33-2-118. Mandatory revocation or suspension of certificate of authority
33-2-119. Suspension or revocation for violations and special grounds
33-2-120. Notice of suspension or revocation -- effect upon producer's authority
33-2-121. Duration of suspension -- insurer's obligations -- reinstatement
33-2-122. Rights and duties of foreign insurer
33-2-123. through 33-2-125 reserved
33-2-126. Admission as domestic insurer -- conversion to foreign insurer