Montana § 33-16-402 Evidence Prerequisite To License

Montana Statutes

§ 33-16-402 — Evidence Prerequisite To License

Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 16 RATES -- RATING AND ADVISORY ORGANIZATIONS·Part 4 Rating Organizations

33-16-402 . Evidence prerequisite to license. To obtain and retain a license, a rating organization shall provide satisfactory evidence to the commissioner that it will:

(1)permit any admitted insurer to become a member of or a subscriber to such rating organization at a reasonable cost and without discrimination or withdraw therefrom;

(2)neither have nor adopt any rule or exact any agreement, the effect of which would be to require any member or subscriber, as a condition to membership or subscribership, to adhere to its rates, rating plans, rating systems, underwriting rules, or policy or bond forms;

(3)neither adopt any rule nor exact any agreement, the effect of which would be to prohibit or regulate the payment of dividends, savings, or unabsorbed premium deposits allowed or return

Free access — add to your briefcase to read the full text and ask questions with AI

33-16-402 . Evidence prerequisite to license. To obtain and retain a license, a rating organization shall provide satisfactory evidence to the commissioner that it will:
(1) permit any admitted insurer to become a member of or a subscriber to such rating organization at a reasonable cost and without discrimination or withdraw therefrom;
(2) neither have nor adopt any rule or exact any agreement, the effect of which would be to require any member or subscriber, as a condition to membership or subscribership, to adhere to its rates, rating plans, rating systems, underwriting rules, or policy or bond forms;
(3) neither adopt any rule nor exact any agreement, the effect of which would be to prohibit or regulate the payment of dividends, savings, or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members, or subscribers;
(4) neither practice nor sanction any plan or act of boycott, coercion, or intimidation;
(5) neither enter into nor sanction any contract or act by which any person is restrained from lawfully engaging in the insurance business;
(6) notify the commissioner promptly of every change in its constitution, its articles of incorporation, agreement, or association, and of its bylaws and rules governing the conduct of its business; its list of members and subscribers; 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 organization may be served;
(7) comply with the provisions of 33-16-105 and 33-16-203 .

Montana § 33-16-402 (Evidence Prerequisite To License) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.