Montana § 33-1-217 - Gap Amount -- Gap Insurance
Full text of Montana Montana Code Annotated § 33-1-217 — Gap Amount -- Gap Insurance, with citation guidance and answers to common questions.
§ 33-1-217. Gap Amount -- Gap Insurance
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 .
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 33-1-217
What does Montana Code Annotated § 33-1-217 cover?
Section 33-1-217 ("Gap Amount -- Gap Insurance") is part of the Montana Code Annotated, the codified statutory law of Montana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Montana § 33-1-217?
A common citation format is "Montana Code Annotated § 33-1-217" (Montana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 33-1-217 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Montana.