Montana Statutes
§ 33-5-102 — Definitions
Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 5 RECIPROCAL INSURERS·Part 1 General Provisions
33-5-102 . Definitions.
(1)"Reciprocal insurance" is that resulting from an interexchange among persons, known as "subscribers", of reciprocal agreements of indemnity, the interexchange being effectuated through an attorney-in-fact common to all such persons.
(2)A "reciprocal insurer" means an unincorporated aggregation of subscribers operating individually and collectively through an attorney-in-fact to provide reciprocal insurance among themselves.
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Legislative History
En. Secs. 538, 539, Ch. 286, L. 1959; R.C.M. 1947, 40-5001, 40-5002.
Nearby Sections
15
§ 33-5-101
Scope Of Chapter -- Existing Insurers§ 33-5-102
Definitions§ 33-5-103
Name -- Suits§ 33-5-104
Attorney -- Not Doing Business§ 33-5-201
Organization Of Reciprocal Insurer§ 33-5-202
Merger Or Conversion§ 33-5-301
Power Of Attorney§ 33-5-302
Modifications§ 33-5-303
Attorney's Bond§ 33-5-304
Action On Bond§ 33-5-401
Surplus Funds Required§ 33-5-402
Contributions To Insurer§ 33-5-404
Subscribers' Liability