This bill aims to enhance consumer protection by prohibiting unfair or deceptive practices in financial planning and revising existing insurance laws. It specifically targets insurance producers who misrepresent their qualifications or engage in financial planning without proper disclosure. The bill mandates that insurance producers must disclose their status as insurance producers and any commissions they may receive when providing financial planning services. Additionally, it requires that fees for financial planning be based on a written agreement, which must detail the services provided and the fee structure, ensuring transparency for clients.

The bill also revises several sections of the Montana Code Annotated (MCA) related to unfair claim settlement practices, misrepresentation in advertising, and the handling of complaints by insurers. Notable amendments include clarifying the definitions of unfair practices, enhancing the requirements for advertising, and establishing stricter guidelines for lenders regarding insurance solicitation. The changes aim to protect consumers from misleading practices and ensure that they are informed about their rights and options when dealing with insurance and financial services. The act is set to take effect on January 1, 2026.

Statutes affected:
LC Text: 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_1(1): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_1(2): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_1(3): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_1(4): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_1(5): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_1(6): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_1(7): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_1: 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(1): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(10): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(11): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(12): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(13): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(14): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(15): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(2): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(3): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(4): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(5): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(6): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(7): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(8): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2(9): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_2: 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(1): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(2): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(3): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(4): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(5): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(6): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X(7): 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001
HB0114_X: 33-18-201, 33-18-202, 33-18-203, 33-18-501, 33-18-1001