Montana Statutes
§ 33-4-506 — Members -- Minimum Membership
Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 4 FARM MUTUAL INSURERS·Part 5 Insurance Operations
33-4-506 . Members -- minimum membership.
(1)A person may not become a member of a farm mutual insurer except by insuring property owned by the person insurable under this chapter.
(2)The membership of an insurer consists of the persons lawfully insuring in the insurer.
(3)The total membership of the insurer must at all times be not less than the number of persons required by 33-4-201 to incorporate an insurer.
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Legislative History
En. Sec. 487, Ch. 286, L. 1959; R.C.M. 1947, 40-4820; amd. Sec. 1153, Ch. 56, L. 2009.
Nearby Sections
15
§ 33-4-102
Definitions§ 33-4-103
Corporate Powers In General§ 33-4-201
Eligible Incorporators§ 33-4-205
Certified Copies Of Articles As Evidence§ 33-4-206
Initial Qualifications§ 33-4-301
Bylaws -- Adoption -- Power To Amend§ 33-4-302
Bylaws -- Contents§ 33-4-303
Bylaws Binding Upon Members§ 33-4-304
Annual Meetings Of Members -- Where Held§ 33-4-306
Adjourned Annual Meetings -- Notice