The bill revises the laws governing surety bail bond insurance in Montana, specifically amending Section 33-26-106 of the Montana Code Annotated (MCA). It mandates that surety bail bond insurance producers must collect a minimum premium of 10% of the guaranteed amount of the surety appearance bond. Additionally, the bill stipulates that the premium must be collected in full at the time of the transaction, and a receipt must be provided to the client.

Furthermore, the bill introduces provisions that prohibit surety bail bond producers from charging additional fees after the initial payment of the minimum premium unless these fees are clearly disclosed in the contract along with a fee schedule. The amendments aim to enhance transparency and protect consumers in the surety bond process by ensuring they are fully informed of all costs associated with obtaining a surety appearance bond.

Statutes affected:
LC Text: 33-26-106