Montana legislation · 2025 Regular Session
Montana HB114: Generally revise consumer protection laws
Status: Signed into law, May 5, 2025
What the bill says
An act generally revising laws relating to consumer protection; prohibiting unfair or deceptive acts or practices relating to unfair financial planning practices; providing exceptions; revising unfair claim settlement practices; revising insurance laws relating to financial institutions; revising laws related to insurance producers and financial planners, investment planners, financial counselors, or any other specialist engaged in the business of providing financial planning or similar advice; providing definitions…
From the engrossed text:
AN ACT GENERALLY REVISING LAWS RELATING TO CONSUMER PROTECTION; PROHIBITING UNFAIR OR DECEPTIVE ACTS OR PRACTICES RELATING TO UNFAIR FINANCIAL PLANNING PRACTICES; PROVIDING EXCEPTIONS; REVISING UNFAIR CLAIM SETTLEMENT PRACTICES; REVISING INSURANCE LAWS RELATING TO FINANCIAL INSTITUTIONS; REVISING LAWS RELATED TO INSURANCE PRODUCERS AND FINANCIAL PLANNERS, INVESTMENT PLANNERS, FINANCIAL COUNSELORS, OR ANY OTHER SPECIALIST ENGAGED IN THE BUSINESS OF PROVIDING FINANCIAL PLANNING OR SIMILAR ADVICE; PROVIDING DEFINITIONS; AMENDING SECTIONS 33-18-201, 33-18202, 33-18-203, 33-18-501, AND 33-18-1001, MCA; AND PROVIDING A DELAYED EFFECTIVE DATE. Section 1. Unfair financial planning practices -- producers. (1) (a) An insurance producer may not directly or indirectly hold the insurance producer out to the public as a financial planner, investment adviser, consultant, financial counselor, or any other type of specialist engaged in the business of providing financial planning or advice relating to investments, insurance, real estate, tax matters, or trust and estate matters if the insurance and (ii) does not hold a formal and recognized financial planning or consultant certification or designation. (b) Subsection (1)(a) does not preclude an insurance producer who holds a formal and recognized financial planning or consultant certification or designation from displaying the certification or designation when only selling insurance. An insurance producer who is selling insurance as provided in this subsection (1)(b) may not charge an additional fee for services that are customarily …
Sponsors
- Fitzpatrick, Steve (R, 24) · primary sponsor
- Noland, Mark (R, 6)
Latest actions
- : Chapter Number Assigned
- : (H) Signed by Governor
- : Chapter Number Assigned
- : (H) Transmitted to Governor
- : (S) Signed by President
- : (H) Signed by Governor
- : (H) Signed by Speaker
- : (H) Transmitted to Governor
- : (S) Signed by President
- : (H) Returned from Enrolling
Votes
- Do Concur (April 8, 2025): 48 yea, 0 nay, passed
- Do Concur (April 7, 2025): 48 yea, 0 nay, passed
- Do Pass (February 3, 2025): 99 yea, 0 nay, passed
- Do Pass (January 31, 2025): 99 yea, 0 nay, passed
Subjects: Credit Transactions, Insurance, Financial Institutions
Common questions
- What is HB114?
- HB114 is a bill in the Montana Legislature (2025 Regular Session): Generally revise consumer protection laws.
- What does HB114 do?
- In its own words: An act generally revising laws relating to consumer protection; prohibiting unfair or deceptive acts or practices relating to unfair financial planning practices; providing exceptions; revising unfair claim settlement practices; revising insurance laws relating to financial institutions; revising laws related to insurance producers and financial planners, investment planners, financial counselors, or any other specialist engaged in the business of providing financial planning or similar advice; providing definitions…
- What is the status of HB114?
- Signed into law as of May 5, 2025. Latest action: Chapter Number Assigned (May 13, 2025).
- Who sponsored HB114?
- Fitzpatrick, Steve (R, 24), with 1 co-sponsor.
- Where is the official record for HB114?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC0104
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.