Montana § 33-20-1001 Group Contracts Required To Meet Group Requirements

Montana Statutes

§ 33-20-1001 — Group Contracts Required To Meet Group Requirements

Montana § 33-20-1001

Title 33INSURANCE AND INSURANCE COMPANIES

Ch. 20LIFE INSURANCE

Part 10General Requirements for Group Life

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Bluebook

Mont. Code Ann. § 33-20-1001 (2026).

Text

33-20-1001 . Group contracts required to meet group requirements.

(1)No life insurance policy shall be delivered in this state insuring the lives of more than one individual unless to one of the groups as provided for in 33-20-1101 through 33-20-1106 and unless in compliance with the other applicable provisions of parts 10 through 12 of this chapter.

(2)Subsection (1) above shall not apply to life insurance policies insuring only individuals:

(a)related by blood, marriage, or legal adoption;

(b)having a common interest through ownership of a business enterprise or a substantial legal interest or equity therein and who are actively engaged in the management thereof; or

(c)otherwise having an insurable interest in each other's lives.

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33-20-1001 . Group contracts required to meet group requirements. (1) No life insurance policy shall be delivered in this state insuring the lives of more than one individual unless to one of the groups as provided for in 33-20-1101 through 33-20-1106 and unless in compliance with the other applicable provisions of parts 10 through 12 of this chapter.
(2) Subsection (1) above shall not apply to life insurance policies insuring only individuals:
(a) related by blood, marriage, or legal adoption;
(b) having a common interest through ownership of a business enterprise or a substantial legal interest or equity therein and who are actively engaged in the management thereof; or
(c) otherwise having an insurable interest in each other's lives.