Montana Statutes
§ 33-20-123 — Prohibited Policy Plans -- Life Insurance Policies Or Annuity Contracts
33-20-123 . Prohibited policy plans -- life insurance policies or annuity contracts.
(1)No insurer shall issue for delivery or deliver in this state any life insurance policy or annuity contract issued under any plan for the segregation of policyholders into mathematical groups and providing benefits for a surviving policyholder of a group arising out of the death of another policyholder of such group or under any other similar plan.
(2)No insurer shall issue for delivery or deliver in this state any life insurance policy or annuity contract providing benefits or values for surviving or continuing policyholders contingent upon the lapse or termination of the policies of other policyholders, whether by death or otherwise. This provision shall not be deemed to prohibit the payment or allow
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Montana § 33-20-123 (Prohibited Policy Plans -- Life Insurance Policies Or Annuity Contracts) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 327, Ch. 286, L. 1959; R.C.M. 1947, 40-3833.
Nearby Sections
15
§ 33-20-1002
Employee Life Insurance Defined§ 33-20-1003
Repealed§ 33-20-101
Scope§ 33-20-102
Industrial Life Insurance Defined§ 33-20-103
Standard Provisions Required -- Exceptions§ 33-20-104
Grace Period§ 33-20-105
Incontestability§ 33-20-106
Entire Contract§ 33-20-107
Misstatement Of Age§ 33-20-108
Dividends§ 33-20-109
Renumbered 33-20-131§ 33-20-110
Table Of Values§ 33-20-1101
Employee Groups§ 33-20-1102
Labor Union Groups