This bill aims to enhance transparency and accountability in online marketplaces by imposing specific disclosure requirements on high-volume third-party sellers. It defines key terms such as "consumer product," "high-volume third-party seller," and "online marketplace," and mandates that these sellers provide essential information, including bank account details, contact information, and tax identification numbers, within ten days of qualifying as high-volume sellers. Online marketplaces are required to verify this information and notify sellers annually to keep their information current. If sellers fail to comply, their sales activities may be suspended until they provide the necessary information.

Additionally, the bill establishes enforcement mechanisms, granting exclusive authority to the attorney general and county attorneys to take action against violations, which are classified as unfair or deceptive trade practices. It also preempts local governments from imposing additional verification or disclosure requirements on online marketplaces. The provisions of this act are set to take effect on October 1, 2024, and are intended to be codified as a new part in Title 30, chapter 14 of the Montana Code.