Montana § 33-2-121 Duration Of Suspension -- Insurer's Obligations -- Reinstatement

Montana Statutes

§ 33-2-121 — Duration Of Suspension -- Insurer's Obligations -- Reinstatement

Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 2 REGULATION OF INSURANCE COMPANIES·Part 1 Authorization of Insurers

33-2-121 . Duration of suspension -- insurer's obligations -- reinstatement.

(1)Suspension of an insurer's certificate of authority must be for a period fixed by the commissioner in the order of suspension and must continue until rescinded or otherwise removed by the commissioner. During the suspension, the commissioner may shorten the period by further order.

(2)During the period of the suspension the insurer shall file its annual statement and pay fees, licenses, and taxes as required under this code as if the certificate had continued in full force.

(3)If within the period of suspension the certificate of authority has not been terminated, the insurer's certificate of authority may be reinstated if the commissioner finds that the causes of the suspension have been removed or that the

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

33-2-121 . Duration of suspension -- insurer's obligations -- reinstatement. (1) Suspension of an insurer's certificate of authority must be for a period fixed by the commissioner in the order of suspension and must continue until rescinded or otherwise removed by the commissioner. During the suspension, the commissioner may shorten the period by further order.
(2) During the period of the suspension the insurer shall file its annual statement and pay fees, licenses, and taxes as required under this code as if the certificate had continued in full force.
(3) If within the period of suspension the certificate of authority has not been terminated, the insurer's certificate of authority may be reinstated if the commissioner finds that the causes of the suspension have been removed or that the insurer is otherwise in compliance with the requirements of this code.
(4) Upon reinstatement of the insurer's certificate of authority, the authority of its insurance producers in this state to represent the insurer is reinstated.
(5) The commissioner shall forthwith notify both the insurer and its insurance producers in this state, as shown by the commissioner's records, of the reinstatement.

Montana § 33-2-121 (Duration Of Suspension -- Insurer's Obligations -- Reinstatement) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.