Montana Statutes
§ 33-11-105 — Compulsory Associations
Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 11 LIABILITY RISK RETENTION AND PURCHASING GROUPS·Part 1 General Provisions
33-11-105 . Compulsory associations.
(1)A risk retention group may not join or contribute financially to any insurance insolvency guaranty fund or similar mechanism in this state. In addition, a risk retention group or its insureds may not receive any benefit from any guaranty fund for claims arising out of the operations of the risk retention group.
(2)A risk retention group shall participate in this state's joint underwriting associations, mandatory liability pools, and similar mechanisms.
(3)When a purchasing group obtains insurance covering its members' risks from an insurer not authorized in this state or from a risk retention group, the risks, wherever resident or located, may not be covered by any insurance guaranty fund or similar mechanism in this state.
(4)When a purchasing g
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Legislative History
En. Sec. 5, Ch. 249, L. 1987; amd. Sec. 56, Ch. 10, L. 1993; amd. Sec. 65, Ch. 596, L. 1993; amd. Sec. 21, Ch. 475, L. 2005; amd. Sec. 1, Ch. 21, L. 2021.
Nearby Sections
15
§ 33-11-101
Purpose§ 33-11-102
Definitions§ 33-11-103
Chartering -- Licensing -- Plan Of Operation§ 33-11-105
Compulsory Associations§ 33-11-106
Repealed§ 33-11-110
Taxation Of Purchasing Group§ 33-11-111
Through 33-11-120 Reserved§ 33-11-121
Administrative And Procedural Authority Regarding Risk Retention Groups And Purchasing Groups§ 33-11-122
Penalties