Laws and Rules
State laws that govern the insurance and securities industries can be found in Montana Code Annotated. The MCA is a compilation of existing Montana laws. Laws are also known as statutes and can only change when the legislature is in session. The MCA is updated a few months after each legislative session.
Administrative rules are regulations establishing how an agency implements a law. Unlike statutes, which change only when the legislature is in session, administrative rules change through an agency process, which allows more flexibility. Agencies are given rulemaking authority through the legislative process (2-4-101, MCA). Learn more about proposed rules and the adoption process of an Administrative Rule on the Montana Secretary of State Website.
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In addition to our regulatory function, the securities department has the authority to investigate violations of the Securities Act of Montana. We have jurisdiction over fraudulent securities transactions and have broad enforcement authority to file administrative and injunctive actions and to refer criminal matters to the county attorneys.
InsuranceOur insurance department is charged by statute with regulating the business of insurance to guarantee it is conducted in accordance with the law and in such a way as to protect policyholders and the general public.
Proposed & Newly Adopted Rules
There are specific timelines that must be followed before the adoption of administrative rules. This process is outlined in 2-4-302, MCA. Below are newly proposed or adopted administrative rules submitted by the Office of the Montana State Auditor, Commissioner of Securities and Insurance.
|Topic||Notice No:||Proposed:||Hearing:||Comment Deadline:||Status:|
|In the matter of the adoption of New Rule I pertaining to Pharmacy Benefit Manager Definitions and New Rule II pertaining to Pharmacy Benefit Manager Network Adequacy
In the matter of the adoption of New Rules I through V pertaining to the Suitability in Annuity Transactions Act
|In the matter of the adoption of New Rules I through VIII pertaining to Surety Insurance Producers Who Sell, Solicit, or Negotiate Commercial Bail Bonds
Amendment, NCCI workers compensation classifications
|Surety Insurance Producers Who Sell, Solicit, or Negotiate Commercial Bail Bonds (Amended Notice 10/23/20)||6-261||4/30/20||5/28/20||10/30/20||Proposed (amended notice)|
|Amendment, revision of classifications for NCCI Manual for Work Comp||6-260||9/20/19||10/16/19||10/24/19||Adopted|
|Amendment, Notice of Protection, Montana Life and Health Guaranty Association||6-258||8/23/19||N/A||9/20/19||Adopted|
|Adopt and amend, annual audited reports, accounting practices, internal audit requirements||6-256||8/23/19||N/A||9/20/19||Adopted|
|Updates to Securities Rules||6-250||4/30/20||5/21/20||5/29/20||Adopted|
|Amendment, replacement of life insurance or annuities||6-249||1/12/19||N/A||2/15/19||Adopted|
|Amendment, NCCI work comp classifications||6-246||9/7/18||10/3/18||10/11/18||Adopted|
|New rules and amending rules related to Long-Term Care Insurance||6-245||11/2/18||12/11/18||12/19/18||Adopted|
|Annual audited financial reports||6-244||5/25/18||N/A||6/22/18||Adopted|
|Amendment, Health Maintenance Organizations||6-243||2/23/18||3/16/18||3/23/18||Adopted|
|Amendment, Public Adjuster Licensing||6-242||2/1/18||2/15/18||2/23/18||Adopted|
|Life Insurance Valuation||6-241||1/2/18||N/A||2/9/18||Adopted|
|Independent Liability Fund||6-240||1/2/18||N/A||2/9/18||Adopted|
|Credit for Reinsurance||6-239||10/31/17||N/A||11/24/17||Adopted|
|Patient-Centered Medical Homes||6-238||9/22/17||N/A||10/30/17||Adopted|
|Medicare Supplement Insurance||6-237||9/22/17||10/12/17||10/20/17||Adopted|
|Corporate Governance Annual Disclosures||6-236||9/22/17||10/17/17||10/25/17||Adopted|
|Insurance Housekeeping Rules||6-232||8/7/17||N/A||9/1/17||Adopted|
|Repeal of Rules||6-231||7/24/17||N/A||8/29/17||Adopted|
|Air Ambulance & Hold Harmless Dispute Resolution||6-230||7/24/17||8/14/17||8/22/17||Adopted|