Montana § 33-4-413 Suit To Collect Obligations -- Liability Of Directors Or Officers

Montana Statutes

§ 33-4-413 — Suit To Collect Obligations -- Liability Of Directors Or Officers

Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 4 FARM MUTUAL INSURERS·Part 4 Finance

33-4-413 . Suit to collect obligations -- liability of directors or officers.

(1)An insurer may institute a suit against any member of such insurer if the member fails to pay when due any obligation or liability of the member given such insurer under the provisions of this chapter.

(2)The directors or officers of an insurer are liable in their individual capacity to the person sustaining an insured loss if they willfully refuse or neglect to perform the duties imposed upon them by the provisions of this section.

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33-4-413 . Suit to collect obligations -- liability of directors or officers. (1) An insurer may institute a suit against any member of such insurer if the member fails to pay when due any obligation or liability of the member given such insurer under the provisions of this chapter.
(2) The directors or officers of an insurer are liable in their individual capacity to the person sustaining an insured loss if they willfully refuse or neglect to perform the duties imposed upon them by the provisions of this section.

Montana § 33-4-413 (Suit To Collect Obligations -- Liability Of Directors Or Officers) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.