Montana banks will soon be allowed to sell insurance.

Under a new state law, a bank or bank subsidiary will be permitted to sell products such as annuities, credit life, and disability insurance -- but not title insurance. Banks will also be permitted to act as insurance adjusters, consultants, or administrators.

The law will take effect next month. Montana was the 35th state to pass such legislation.

Don Hutchinson, the state's banking commissioner, said that though he pushed for the law, he is not sure how many banks will act on it.

"But I imagine some of the larger banks will start their own underwriting divisions," Mr. Hutchinson said.

-- Matt Andrejczak

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