Montana Statutes
§ 33-12-113 — Indemnification Agreement
Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 12 INSURER INVESTMENTS·Part 1 General Provisions
33-12-113 . Indemnification agreement. An insurer may contract with any national or state bank, trust company, or securities brokerage firm to act as custodian for the insurer's securities. The contract must contain an indemnification agreement stating that the custodian is obligated to indemnify the insurer for any loss of the insurer's securities in its custody resulting from the intentional or negligent act or omission of the custodian or the employee, officer, or agent of the custodian.
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Legislative History
En. Sec. 1, Ch. 109, L. 2005.
Nearby Sections
15
§ 33-12-101
Purpose And Scope§ 33-12-102
Definitions§ 33-12-103
General Investment Qualifications§ 33-12-105
Prohibited Investments§ 33-12-106
Loans To Officers And Directors§ 33-12-107
Valuation Of Investments§ 33-12-108
Presumption Of Control§ 33-12-110
Special Rated Credit Instrument§ 33-12-111
Rules§ 33-12-112
Foreign And Alien Insurers§ 33-12-113
Indemnification Agreement§ 33-12-201
Applicability