Montana § 33-2-1211 Bulk Reinsurance -- Stock Insurers

Montana Statutes

§ 33-2-1211 — Bulk Reinsurance -- Stock Insurers

Montana § 33-2-1211

Title 33INSURANCE AND INSURANCE COMPANIES

Ch. 2REGULATION OF INSURANCE COMPANIES

Part 12Limit of Risk -- Reinsurance

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Bluebook

Mont. Code Ann. § 33-2-1211 (2026).

Text

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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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.