Montana Statutes
§ 33-10-115 — Recovery -- Sequence -- Nonduplication
Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 10 INSURANCE GUARANTY ASSOCIATIONS·Part 1 Casualty and Property Insurance Guaranty Associations
33-10-115 . Recovery -- sequence -- nonduplication.
(1)Any person having a claim against an insurer under any provision in an insurance policy other than a policy of an insolvent insurer that is also a covered claim must be required to exhaust the person's right under the policy. Any amount payable on a covered claim under this part must be reduced by the amount of any recovery under the insurance policy.
(2)Any person having a claim that may be recovered under more than one insurance guaranty association or its equivalent shall seek recovery first from the association of the place of residence of the insured, except that if it is a first party claim for damage to property with a permanent location, the person shall seek recovery first from the association of the location of the property
Free access — add to your briefcase to read the full text and ask questions with AI
Montana § 33-10-115 (Recovery -- Sequence -- Nonduplication) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 12, Ch. 63, L. 1971; R.C.M. 1947, 40-5712; amd. Sec. 1179, Ch. 56, L. 2009.
Nearby Sections
15
§ 33-10-102
Definitions§ 33-10-103
Creation Of The Association§ 33-10-105
General Powers And Duties§ 33-10-107
Tax Exemption§ 33-10-110
Immunity§ 33-10-112
Examination Of Association§ 33-10-113
Claims -- Notice§ 33-10-114
Claims -- Effect As To Insured And Receiver§ 33-10-115
Recovery -- Sequence -- Nonduplication