Montana Statutes
§ 33-2-1211 — Bulk Reinsurance -- Stock Insurers
Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 2 REGULATION OF INSURANCE COMPANIES·Part 12 Limit of Risk -- Reinsurance
33-2-1211 . Bulk reinsurance -- stock insurers.
(1)A domestic stock insurer may reinsure all or substantially all of its insurance in force or a major class of insurance with another insurer by an agreement of bulk reinsurance, but the agreement may not become effective unless filed with the commissioner and approved by the commissioner in writing after a hearing on the agreement.
(2)The commissioner shall approve an agreement within a reasonable time after filing unless the commissioner finds that it is inequitable to the stockholders of the domestic insurer or would substantially reduce the protection or service to its policyholders. If the commissioner does not approve the agreement, the commissioner shall notify the insurer in writing specifying the reasons for disapproval.
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Legislative History
En. Sec. 464, Ch. 286, L. 1959; R.C.M. 1947, 40-4747; amd. Sec. 1096, Ch. 56, L. 2009.
Nearby Sections
15
§ 33-2-1001
Repealed§ 33-2-1002
Repealed§ 33-2-1003
Repealed§ 33-2-1004
Repealed§ 33-2-1005
Repealed§ 33-2-1006
Repealed§ 33-2-1007
Repealed§ 33-2-101
Certificate Of Authority Required§ 33-2-103
Admission For Investment Only§ 33-2-106
General Eligibility Of Insurers§ 33-2-107
Name -- Dissimilar§ 33-2-108
Combinations Of Insuring Powers