Montana Statutes
§ 33-3-434 — Directors' Liability For Losses During Deficiency
Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 3 DOMESTIC STOCK AND MUTUAL INSURERS·Part 4 Finance
33-3-434 . Directors' liability for losses during deficiency. The directors of the insurer shall be individually liable as to losses incurred under policies issued by the insurer after expiration of the period provided in 33-3-432 for curing any deficiency of the insurer's capital stock or surplus and prior to the curing of the deficiency.
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Montana § 33-3-434 (Directors' Liability For Losses During Deficiency) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 458, Ch. 286, L. 1959; R.C.M. 1947, 40-4741.
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