Mont. Code Ann. § 33-1-217
This is the official text of Mont. Code Ann. § 33-1-217, part of Montana’s Code Ann — part of the compiled statutory law of Montana, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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33-1-217 Gap amount -- gap insurance
Official statutory text
33-1-217 . Gap amount -- gap insurance. (1) As used in this section, gap amount means the difference between the amount owed by the lessee or borrower under the purchase or lease agreement in the event of total loss of the personal property prior to the expiration of the agreement by theft or physical damage and the actual cash value or portion received by the lessor or creditor from insurance proceeds or from any other person on account of the total loss or destruction of the personal property.
(2) Gap insurance means insurance covering the gap amount that is payable upon the total loss of personal property, which is the subject of a lease or a loan or another credit transaction, occasioned by the theft of or physical damage to the property.
(3) Gap insurance is a type of casualty insurance provided for in 33-1-206 .
(2) Gap insurance means insurance covering the gap amount that is payable upon the total loss of personal property, which is the subject of a lease or a loan or another credit transaction, occasioned by the theft of or physical damage to the property.
(3) Gap insurance is a type of casualty insurance provided for in 33-1-206 .
Status: in_force · Read it on the official government site
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