Montana HB729 revises surety bail bond insurance laws to mandate a minimum 10% premium collection on surety appearance bonds.
Montana HB729 amends the surety bail bond insurance laws to require producers to collect a minimum of 10% of the guaranteed amount of a surety appearance bond as a premium. The bill also mandates that the premium must be collected in full and that a receipt must be provided. Additionally, it prohibits producers from requiring additional fees without disclosing them and providing a fee schedule in the contract. This revision aims to ensure transparency and fairness in the collection of fees related to surety appearance bonds.
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