To this end, the Office of the State Auditor assures compliance with Montana's insurance and securities laws, promotes captive insurance formations, supports capital formation in the state, as well as assists consumers with complaints involving the securities.
The Montana state auditor carries out this function by licensing, registering, auditing and regulating insurance companies and producers, securities issuers, salespeople, broker-dealers, investment advisors and investment adviser representatives within the state.
Later in 1909, 1911, 1913, and 1921, the state auditor assumed responsibility for regulating insurance, securities, and real estate and investigating arsons.
Likewise, the Public Service Commission assumed the state auditor's duties concerning railroad regulation.
The remaining duties – insurance and securities regulation – constitute the core function of the state auditor's office today.