House Bill No. introduced by N. Nicol aims to revise the laws governing surety bail bond insurance in Montana. The bill mandates that surety bail bond insurance producers must collect a minimum premium of 10% of the guaranteed amount of the surety appearance bond. Additionally, it stipulates that the premium must be collected in full, and a receipt must be provided to the client. The bill also includes provisions that prevent producers from charging additional fees after the initial payment unless these fees are clearly disclosed in the contract along with a fee schedule.

The bill amends Section 33-26-106 of the Montana Code Annotated (MCA) to incorporate these new requirements. It replaces the phrase "upon" with "on" in the context of court or officer duties regarding bond accounts, and it clarifies the language surrounding the allowance of costs associated with procuring surety bonds. Overall, the legislation seeks to enhance transparency and ensure that clients are fully informed about the costs associated with surety appearance bonds.

Statutes affected:
LC Text: 33-26-106
HB0729_1(1): 33-26-106
HB0729_1(2): 33-26-106
HB0729_1(3): 33-26-106
HB0729_1(4): 33-26-106
HB0729_1: 33-26-106