Montana Statutes
§ 33-3-208 — Formation Of Mutuals -- Failure To Qualify
Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 3 DOMESTIC STOCK AND MUTUAL INSURERS·Part 2 Formation
33-3-208 . Formation of mutuals -- failure to qualify. If the proposed domestic insurer fails to complete its organization and to secure its original certificate of authority within 1 year after the date of its certificate of incorporation, its corporate powers shall cease and the commissioner shall return or cause to be returned to the persons entitled thereto all advance deposits or payments of premiums held in trust under 33-3-207 .
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Legislative History
En. Sec. 429, Ch. 286, L. 1959; R.C.M. 1947, 40-4712.
Nearby Sections
15
§ 33-3-101
Scope Of Chapter§ 33-3-102
Definitions§ 33-3-201
Incorporation§ 33-3-202
Articles Of Incorporation -- Approval§ 33-3-205
Formation Of Mutual Insurer -- Bond§ 33-3-209
Through 33-3-214 Reserved§ 33-3-215
Mutualization Of Stock Insurer