Montana § 33-27-103 Definitions

Montana Statutes

§ 33-27-103 — Definitions

Montana § 33-27-103

Title 33INSURANCE AND INSURANCE COMPANIES

Ch. 27INDEPENDENT LIABILITY FUND

Part 1General Provisions

This text of Montana § 33-27-103 (Definitions) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 33-27-103 (2026).

Text

33-27-103 . Definitions. As used in 15-30-2118 , 15-31-117 , 15-31-118 , and this chapter, the following definitions apply:

(1)"Fiscal year" means the 12-month period used by a particular small business in preparing and filing its Montana individual income tax, corporate income tax, or alternative corporate income tax return.

(2)"Independent liability fund" means a collection of money, assets, and investments that has been set aside by a small business to meet the needs of any liability claims, except workers' compensation claims, brought against it by third parties.

(3)"Liability claim" means any legal or extralegal action by a third party asserting a right to compensation for a wrong done to it by a small business with an independent liability fund.

(4)"Small business" means any comm

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33-27-103 . Definitions. As used in 15-30-2118 , 15-31-117 , 15-31-118 , and this chapter, the following definitions apply:
(1) "Fiscal year" means the 12-month period used by a particular small business in preparing and filing its Montana individual income tax, corporate income tax, or alternative corporate income tax return.
(2) "Independent liability fund" means a collection of money, assets, and investments that has been set aside by a small business to meet the needs of any liability claims, except workers' compensation claims, brought against it by third parties.
(3) "Liability claim" means any legal or extralegal action by a third party asserting a right to compensation for a wrong done to it by a small business with an independent liability fund.
(4) "Small business" means any commercial or nonprofit enterprise qualified to do business in the state and qualified as a small business under the criteria established by the federal small business administration on April 20, 1987.
(5) "Third party" means a person other than an employee or the management of a small business or of a subsidiary or closely related enterprise of a small business.