Montana § 33-4-501 Insuring Powers In General

Montana Statutes

§ 33-4-501 — Insuring Powers In General

Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 4 FARM MUTUAL INSURERS·Part 5 Insurance Operations

33-4-501 . Insuring powers in general.

(1)In respect to property insurance as defined in 33-1-210 , a farm mutual insurer shall insure against loss or damage by fire or other casualty only:

(a)rural dwellings and buildings, including the usual contents, farm livestock, machinery, vehicles, growing crops, and other forms of farm property owned by a member of the insurer or by the member's spouse;

(b)residential dwellings, appurtenant structures, and personal property owned by a member of the insurer or by the member's spouse;

(c)dwellings and related buildings designed for occupancy by not over four families, together with the usual contents;

(d)rural schoolhouses and buildings used in connection with the schoolhouse, rural community houses, rural churches, or other rural public buildi

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33-4-501 . Insuring powers in general. (1) In respect to property insurance as defined in 33-1-210 , a farm mutual insurer shall insure against loss or damage by fire or other casualty only:
(a) rural dwellings and buildings, including the usual contents, farm livestock, machinery, vehicles, growing crops, and other forms of farm property owned by a member of the insurer or by the member's spouse;
(b) residential dwellings, appurtenant structures, and personal property owned by a member of the insurer or by the member's spouse;
(c) dwellings and related buildings designed for occupancy by not over four families, together with the usual contents;
(d) rural schoolhouses and buildings used in connection with the schoolhouse, rural community houses, rural churches, or other rural public buildings.
(2) A farm mutual insurer may insure against the liability risks provided in 33-1-206 (1)(b):
(a) only to the extent of the limit of risks provided in 33-4-502 (3); and
(b) if contingent liability exists, provided that every policy contains a statement that each member of the farm mutual insurer is subject to a contingent liability under 33-3-411 .

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Legislative History

En. Sec. 470, Ch. 286, L. 1959; R.C.M. 1947, 40-4803; amd. Sec. 2, Ch. 28, L. 1987; amd. Sec. 2, Ch. 334, L. 1993; amd. Sec. 1, Ch. 281, L. 1995; amd. Sec. 4, Ch. 228, L. 2001.