Montana § 33-2-1704 Duties Of Insurers Utilizing The Services Of A Reinsurance Intermediary-Broker

Montana Statutes

§ 33-2-1704 — Duties Of Insurers Utilizing The Services Of A Reinsurance Intermediary-Broker

Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 2 REGULATION OF INSURANCE COMPANIES·Part 17 Regulation of Reinsurance Intermediaries

33-2-1704 . Duties of insurers utilizing the services of a reinsurance intermediary-broker.

(1)An insurer may not engage the services of any person, firm, association, or corporation to act as a reinsurance intermediary-broker on its behalf unless the person is licensed as required by 33-2-1701 .

(2)An insurer may not employ an individual who is employed by a reinsurance intermediary-broker with which it transacts business unless the reinsurance intermediary-broker is under common control with the insurer and is subject to the provisions of Title 33, chapter 2, part 11.

(3)The insurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary-broker with which it transacts business.

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33-2-1704 . Duties of insurers utilizing the services of a reinsurance intermediary-broker. (1) An insurer may not engage the services of any person, firm, association, or corporation to act as a reinsurance intermediary-broker on its behalf unless the person is licensed as required by 33-2-1701 .
(2) An insurer may not employ an individual who is employed by a reinsurance intermediary-broker with which it transacts business unless the reinsurance intermediary-broker is under common control with the insurer and is subject to the provisions of Title 33, chapter 2, part 11.
(3) The insurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary-broker with which it transacts business.

Montana § 33-2-1704 (Duties Of Insurers Utilizing The Services Of A Reinsurance Intermediary-Broker) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.