Montana Statutes
§ 33-5-303 — Attorney's Bond
33-5-303 . Attorney's bond.
(1)Concurrently with the filing of the declaration provided for in 33-5-201 , the attorney of a domestic reciprocal insurer shall file with the commissioner a bond in favor of this state for the benefit of all persons damaged as a result of breach by the attorney of the conditions of the attorney's bond as set forth in subsection (2). The bond must be executed by the attorney and by an authorized corporate surety and must be subject to the commissioner's approval.
(2)The bond must be in the penal sum of $25,000, aggregate in form, conditioned that the attorney will faithfully account for all money and other property of the insurer coming into the attorney's possession and that the attorney will not withdraw or appropriate to the attorney's own use from the fun
Free access — add to your briefcase to read the full text and ask questions with AI
Montana § 33-5-303 (Attorney's Bond) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 549, Ch. 286, L. 1959; R.C.M. 1947, 40-5012; amd. Sec. 1158, Ch. 56, L. 2009.
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