Montana § 33-2-1366 Special Claims

Montana Statutes

§ 33-2-1366 — Special Claims

Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 2 REGULATION OF INSURANCE COMPANIES·Part 13 Supervision, Rehabilitation, and Liquidation

33-2-1366 . Special claims.

(1)The claim of a third party that is contingent on the third party first obtaining a judgment against the insured must be considered and allowed as if there were no contingency.

(2)A claim may be allowed, even if contingent, if it is filed in accordance with 33-2-1364 . It may be allowed and may participate in all distributions declared after it is filed to the extent that it does not prejudice the orderly administration of the liquidation.

(3)Claims that are due except for the passage of time must be treated as absolute claims are treated, except that the claims may be discounted at the legal rate of interest.

(4)Claims made under employment contracts by directors, principal officers, or persons in fact performing similar functions or having similar powers

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33-2-1366 . Special claims. (1) The claim of a third party that is contingent on the third party first obtaining a judgment against the insured must be considered and allowed as if there were no contingency.
(2) A claim may be allowed, even if contingent, if it is filed in accordance with 33-2-1364 . It may be allowed and may participate in all distributions declared after it is filed to the extent that it does not prejudice the orderly administration of the liquidation.
(3) Claims that are due except for the passage of time must be treated as absolute claims are treated, except that the claims may be discounted at the legal rate of interest.
(4) Claims made under employment contracts by directors, principal officers, or persons in fact performing similar functions or having similar powers are limited to payment for services rendered prior to the issuance of any order of rehabilitation or liquidation under 33-2-1332 or 33-2-1342 .

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