This bill establishes a framework for the Commissioner of Insurance to issue regulatory sandbox waivers, allowing for variances or waivers from certain requirements of the insurance code. It outlines the process for applications to the Commissioner, the considerations that must be taken into account when granting a waiver, and the limitations on such waivers. Additionally, the bill mandates consumer disclosures, sets time limitations for the waivers, and includes provisions for fees and penalties associated with the waivers.

Furthermore, the bill grants rulemaking authority to the Commissioner and amends Section 33-1-102 of the Montana Code Annotated (MCA). It also includes a termination date for the provisions outlined in the bill, ensuring that the regulatory sandbox framework is subject to review and potential expiration.

Statutes affected:
HB0836_1.pdf: 33-1-102
HB0836_2.pdf: 33-1-102
Amended: 33-1-102
Introduced: 33-1-102