Montana § 72-31-345 Insurance And Annuities

Montana Statutes

§ 72-31-345 — Insurance And Annuities

Montana § 72-31-345

Title 72ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS

Ch. 31MISCELLANEOUS PROVISIONS RELATING TO FIDUCIARIES

Part 3Uniform Power of Attorney Act

This text of Montana § 72-31-345 (Insurance And Annuities) 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. § 72-31-345 (2026).

Text

72-31-345 . Insurance and annuities. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to insurance and annuities authorizes the agent to:

(1)continue, pay the premium or make a contribution on, modify, exchange, rescind, release, or terminate a contract procured by or on behalf of the principal that insures or provides an annuity to either the principal or another person, whether or not the principal is a beneficiary under the contract;

(2)procure new, different, and additional contracts of insurance and annuities for the principal and the principal's spouse, children, and other dependents and select the amount, type of insurance or annuity, and mode of payment;

(3)pay the premium or make a contribution on, modify,

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72-31-345 . Insurance and annuities. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to insurance and annuities authorizes the agent to:
(1) continue, pay the premium or make a contribution on, modify, exchange, rescind, release, or terminate a contract procured by or on behalf of the principal that insures or provides an annuity to either the principal or another person, whether or not the principal is a beneficiary under the contract;
(2) procure new, different, and additional contracts of insurance and annuities for the principal and the principal's spouse, children, and other dependents and select the amount, type of insurance or annuity, and mode of payment;
(3) pay the premium or make a contribution on, modify, exchange, rescind, release, or terminate a contract of insurance or annuity procured by the agent;
(4) apply for and receive a loan secured by a contract of insurance or annuity;
(5) surrender and receive the cash surrender value on a contract of insurance or annuity;
(6) exercise an election;
(7) exercise investment power available under a contract of insurance or annuity;
(8) change the manner of paying premiums on a contract of insurance or annuity;
(9) change or convert the type of insurance or annuity with respect to which the principal has or claims to have a power described in this section;
(10) apply for and procure a benefit or assistance under a statute or regulation to guarantee or pay premiums of a contract of insurance on the life of the principal;
(11) collect, sell, assign, hypothecate, borrow against, or pledge the interest of the principal in a contract of insurance or annuity; and
(12) pay from proceeds or otherwise, compromise or contest, and apply for refunds in connection with a tax or assessment levied by a taxing authority with respect to a contract of insurance or annuity or its proceeds or liability accruing by reason of the tax or assessment.

Legislative History

En. Sec. 7, Ch. 580, L. 1991; amd. Sec. 122, Ch. 494, L. 1993; Sec. 72-31-207 , MCA 1991; redes. 72-31-230 by Code Commissioner, 1993; amd. Sec. 36, Ch. 109, L. 2011; Sec. 72-31-230 , MCA 2009; redes. 72-31-345 by Code Commissioner, 2011.