Montana § 33-3-415 Insufficient Reserves -- Nonassessable Policies Prohibited -- Revocation Of Authority

Montana Statutes

§ 33-3-415 — Insufficient Reserves -- Nonassessable Policies Prohibited -- Revocation Of Authority

Montana § 33-3-415

Title 33INSURANCE AND INSURANCE COMPANIES

Ch. 3DOMESTIC STOCK AND MUTUAL INSURERS

Part 4Finance

This text of Montana § 33-3-415 (Insufficient Reserves -- Nonassessable Policies Prohibited -- Revocation Of Authority) 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. § 33-3-415 (2026).

Text

33-3-415 . Insufficient reserves -- nonassessable policies prohibited -- revocation of authority. The commissioner shall revoke the authority of a domestic mutual insurer to issue policies without contingent liability if at any time the insurer's assets are less than the sum of its liabilities and the surplus required for such authority or if the insurer, by resolution of its board of directors approved by a majority of its members, requests that the authority be revoked. During the absence of such authority the insurer shall not issue any policy without providing therein for the contingent liability of the policyholder or renew any policy which is renewable at the option of the insurer without endorsing the same to provide for such contingent liability.

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33-3-415 . Insufficient reserves -- nonassessable policies prohibited -- revocation of authority. The commissioner shall revoke the authority of a domestic mutual insurer to issue policies without contingent liability if at any time the insurer's assets are less than the sum of its liabilities and the surplus required for such authority or if the insurer, by resolution of its board of directors approved by a majority of its members, requests that the authority be revoked. During the absence of such authority the insurer shall not issue any policy without providing therein for the contingent liability of the policyholder or renew any policy which is renewable at the option of the insurer without endorsing the same to provide for such contingent liability.