HELENA, MT— On May 13, Gov. Greg Gianforte vetoed House Bill 729, a second,
industry-drafted reform aimed at curbing abuse within Montana’s bail bond industry. Supported
by bipartisan lawmakers, the Commissioner of Securities and Insurance (CSI), and the Montana
Bail Agents Association, the bill would have required a minimum 10% premium on bail bonds
— a basic safeguard to prevent coercion, fraud, and exploitation.
In his veto letter, Gianforte argued that HB 729 “impedes the free market by mandating
minimum insurance premiums for bail bonds,” calling it a form of “price fixing.” He claimed the
bill would “inhibit competition” and maintained that market forces should dictate the cost of
services.
But this rationale not only fails to grasp the realities of the bail industry — it displays a
fundamental misunderstanding of how insurance regulation works.
The first warning: coercion turns deadly
In 2022, Jay Steven Hubber’s license was suspended after state investigators found he posted
discounted bonds and then used financial leverage to force clients into bounty hunting roles — in
violation of insurance law. One of those arrangements ended in tragedy when a client, Nick
Jaeger, agreed to help Hubber apprehend another man. The confrontation escalated. A taser and
firearm were involved. William Harris died.
This incident spurred the introduction of HB 808 in 2023 — a 10% premium requirement written
by the bail industry itself in coordination with CSI. The bill passed the Legislature but was
vetoed by Gianforte. A narrowly failed override attempt left the reforms dead.
The second warning: a predator exposed
In 2025, with Gianforte’s previous veto still reverberating, the industry and CSI again
collaborated on HB 729 — another push to set a premium floor and prevent bad actors from
using financial manipulation to exploit defendants.
Just as the bill reached the governor’s desk, the state opened an investigation into Louis Ikeda, a
Billings bondsman. Ikeda bonded women out for as little as $200 on $10,000 bail, then used that
financial control to pressure them for sex or intimidate them after release. One woman was
driven to a remote area and coerced into sexual acts. Others were harassed online and threatened
with bond revocation if they didn’t comply.
According to the commissioner’s suspension order, Ikeda “endangered the public” and used
“dishonest and coercive tactics to manipulate and control his principals”.
This investigation broke as Gianforte was rejecting the very bill designed to prevent such
conduct.
This is not capitalism. This is complicity.
Gianforte’s free-market rationale collapses under scrutiny. Bail bonds are a form of insurance —
and insurance premiums are regulated across every other market, from auto to health to
homeowners coverage. These regulations exist to protect consumers and prevent destabilization
of the market.
Most states already set minimums for bail premiums precisely because the service involves
nonrefundable, high-risk financial products backed by insurers. When bail agents waive or slash
premiums, it opens the door for coercive, off-the-books arrangements that escape oversight —
exactly what happened in the Hubber and Ikeda cases.
Montana’s bail professionals understood this. That’s why they asked for reform — twice. And
twice, Gianforte shut them down.
Industry reform, executive indifference
HB 808 and HB 729 weren’t top-down mandates. They were self-regulation. Both were written
by the bail industry in partnership with CSI. Both aimed to address real harm through modest
and enforceable standards. Both passed the Legislature.
And both were vetoed.
Failure of leadership
Gianforte’s repeated rejection of these bills isn’t just a philosophical stance. It’s a failure to
protect Montanans in the face of documented harm. If another person is exploited, abused, or
worse, the responsibility will not rest solely with the perpetrator — but with the governor who
twice ignored clear warnings.
He didn’t just veto a bill. He vetoed accountability. He vetoed consumer protection. He vetoed
justice.
And Montanans will bear the cost.