Exams / Montana Life Insurance License / Mont. Code Ann. §33-17-1002
Mont. Code Ann. §33-17-1002 — what it says, and how the exam tests it
This section is cited by 11 of our practice questions and is tested on 3 exams including the Montana Life Insurance License.
The text
33-17-1002. Procedure following suspension or revocation. (1) Upon suspension, revocation, or refusal of a license, the commissioner shall notify the licensee or applicant by mail addressed to the licensee or applicant at the last-known address contained in the records of the commissioner. Notice is effectuated when mailed. (2) The commissioner may reissue a license that has lapsed if the licensee has paid the lapsed license reinstatement fee pursuant to 33-2-708 and has filed certification of completion of continuing education requirements for the preceding biennium within 1 year of the lapse occurring. (3) The commissioner may not again issue a license under this code to a person whose license has been revoked until after expiration of 1 year and until the person again qualifies for a license in accordance with this code. If the commissioner revokes a person's license, the commissioner may refuse to issue a license to the person for up to 5 years after the revocation. A person whose license has been revoked twice is not again eligible for any license under this code. (4) If the license of a business entity is suspended or revoked, a member, officer, or director of the business entity may not be licensed or be designated in a license to exercise the business entity's powers during the period of the suspension or revocation unless the commissioner determines upon substantial evidence that the member, officer, or director was not personally at fault and did not acquiesce in the matter on account of which the license was suspended or revoked. History: En. Sec. 174, Ch. 286, L. 1959; R.C.M. 1947, 40-3330; amd. Sec. 13, Ch. 409, L. 1987; amd. Sec. 50, Ch. 713, L. 1989; amd. Sec. 21, Ch. 427, L. 2003; amd. Sec. 15, Ch. 271, L. 2009; amd. Sec. 8, Ch. 139, L. 2015. Disclaimer: The Internet version of the Montana Code Annotated is provided as a research tool to users of the Code. In case of inconsistencies resulting from omissions or other errors, the printed version will prevail.
Public record. Read the full, current section at the official source: mca.legmt.gov
How it comes up on the exam
Practice questions written from this section — answers and explanations are in the drill.
- Under Mont. Code Ann. §33-17-1002, if a business entity's insurance license is suspended, under what condition may an officer of that entity still be licensed during the suspension period?
drill Montana Statutes and Rules Common to Life, Disability (A&H), Property and Casualty Insurance → - Under Mont. Code Ann. §33-17-1002, if a business entity's insurance license is suspended, under what condition may a member, officer, or director of that entity obtain an individual license during the suspension period?
drill Montana Statutes and Rules Common to Life, Disability (A&H), Property and Casualty Insurance → - Under Mont. Code Ann. §33-17-1002, when the commissioner notifies a licensee of suspension or revocation by mail, at what point is notice considered effectuated?
drill Montana Statutes and Rules Common to Life, Disability (A&H), Property and Casualty Insurance →