§ 33-16-307 — Joint Underwriting And Joint Reinsurance -- Application -- Restrictions On Operations

Montana § 33-16-307

• Jurisdiction: Montana
• Title 33: INSURANCE AND INSURANCE COMPANIES
• Ch. 16: RATES -- RATING AND ADVISORY ORGANIZATIONS
• Part 3: Insurers Acting in Concert

Text

33-16-307 . Joint underwriting and joint reinsurance -- application -- restrictions on operations. (1) Every group, association, or other organization of insurers which engages in joint underwriting or joint reinsurance through such group, association, or organization or by standing agreement among the members thereof, shall file with the commissioner:
(a) a copy of its constitution, its articles of incorporation, agreement, or association, and of its bylaws and rules governing its activities, all duly certified by the custodian of the originals thereof;
(b) a list of its members; and
(c) the name and address of a resident of this state upon whom notices or orders of the commissioner or process may be served.
(2) Every such group, association, or other organization shall notify the commissioner promptly of every change in its constitution, its articles of incorporation, agreement, or association, and its bylaws and rules governing the conduct of its business; its list of members; and the name and address of the resident of this state designated by it upon whom notices or orders of the commissioner or process affecting such group, association, or organization may be served.
(3) No such group, association, or organization shall engage in any unfair or unreasonable practice with respect to such activities.

Legislative History

En. Sec. 20, Ch. 362, L. 1969; R.C.M. 1947, 40-3653.