Montana § 33-5-404 Subscribers' Liability

Montana Statutes

§ 33-5-404 — Subscribers' Liability

Montana § 33-5-404

Title 33INSURANCE AND INSURANCE COMPANIES

Ch. 5RECIPROCAL INSURERS

Part 4Finance

This text of Montana § 33-5-404 (Subscribers' Liability) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 33-5-404 (2026).

Text

33-5-404 . Subscribers' liability.

(1)The liability of each subscriber, other than as to a nonassessable policy, for the obligations of the reciprocal insurer must be an individual, several, and proportionate liability, and not joint liability.

(2)Except as to a nonassessable policy, each subscriber must have a contingent assessment liability, in the amount provided for in the power of attorney or in the subscribers' agreement, for payment of actual losses and expenses incurred while the subscriber's policy was in force. The contingent liability may be at the rate of not less than 1 or more than 10 times the premium or premium deposit stated in the policy, and the maximum aggregate contingent liability must be computed in the manner set forth in 33-5-406 .

(3)Each assessable policy issu

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33-5-404 . Subscribers' liability. (1) The liability of each subscriber, other than as to a nonassessable policy, for the obligations of the reciprocal insurer must be an individual, several, and proportionate liability, and not joint liability.
(2) Except as to a nonassessable policy, each subscriber must have a contingent assessment liability, in the amount provided for in the power of attorney or in the subscribers' agreement, for payment of actual losses and expenses incurred while the subscriber's policy was in force. The contingent liability may be at the rate of not less than 1 or more than 10 times the premium or premium deposit stated in the policy, and the maximum aggregate contingent liability must be computed in the manner set forth in 33-5-406 .
(3) Each assessable policy issued by the insurer must contain a statement of the contingent liability.