reglab/housing_qa huggingface dataset:
MT Code § 33-2-408 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 4. Standard Valuation|33-2-408. Contracts prior to the operative date of 33-20-213 -- valuation

  33-2-408. Contracts prior to the operative date of 33-20-213 -- valuation. (1) This section shall apply to only those policies and contracts issued prior to the operative date of 33-20-213.   (2) Except as otherwise provided in 33-2-410 for group annuity and pure endowment contracts, the minimum standard of valuation on all policies of domestic life insurers issued prior to January 1, 1922, shall be the American experience table of mortality and interest at 3 1/2% per annum, with preliminary term insurance for the first policy year, and for policies of such insurers issued subsequent to December 31, 1921, shall be the American experience table of mortality with interest at 3 1/2% per annum, with preliminary term insurance for the first policy year, except as follows: If the premium charged for term insurance under a limited payment life preliminary term policy providing for the payment of all premiums thereon in less than 20 years from the date of the policy or under an endowment preliminary term policy exceeds that charged for life insurance under 20-payment life preliminary term policies of the same insurer, the reserve thereon at the end of any year, including the first, shall not be less than the reserve on a 20-payment life preliminary term policy issued in the same year and at the same age, together with an amount which shall be equivalent to the accumulation of a net level premium reserve sufficient to provide for a pure endowment at the end of the premium payment period equal to the difference between the value at the end of such period of such a 20-payment life preliminary term policy and the full net level premium reserve at such time of such a limited payment life or endowment policy.   (3) Reserves for all such policies and contracts may be calculated, at the option of the insurer, according to any standards which produce greater aggregate reserves for all such policies and contracts than the minimum reserves required by this section.   History: En. Sec. 92, Ch. 286, L. 1959; amd. Sec. 1, Ch. 61, L. 1961; amd. Sec. 1, Ch. 41, L. 1965; amd. Sec. 1, Ch. 341, L. 1973; R.C.M. 1947, 40-3011(2); Sec. 33-2-522, MCA 2013; redes. 33-2-408 by Sec. 40, Ch. 370, L. 2015.
MT Code § 33-2-416 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 4. Standard Valuation|33-2-416. Deposit of reserves -- domestic life insurers

  33-2-416. Deposit of reserves -- domestic life insurers. (1) Domestic life insurers shall deposit and maintain on deposit, in securities and assets, with depositaries and subject to conditions as provided for in part 6 of this chapter, an amount not less than the reserves on its outstanding life insurance policies and annuity contracts, as valued under 33-2-407 through 33-2-412, minus policy loans.   (2) Annually on or before April 1, the insurer shall deposit any additional securities or assets required under subsection (1) and related to the increase of the reserves, minus policy loans, during the preceding calendar year, as determined from the insurer's annual statement as at December 31 of the preceding year.   (3) A domestic stock life insurer may credit toward the deposit the amount of any other deposit of the insurer held under part 6 of this chapter for the protection of its policyholders or of its policyholders and creditors.   (4) Deposits of the reserves of a domestic life insurer under this section must consist of securities and assets acquired and valued in accordance with chapter 12 and part 5 of this chapter.   (5) Real estate mortgage loans and chattel mortgage loans may be made a part of the deposit by filing a verified statement of the loans with the commissioner. The statement is subject to audit at all times by the commissioner. Nonnegotiable securities deposited with the commissioner must be accompanied by transfer powers in due form. If the insurer uses real estate acquired under 33-12-207 as a deposit, then a deed of trust, mortgage, or other instrument sufficient to convey a security interest in the real estate, in a form acceptable to the commissioner, must be completed in due form and recorded prior to being deposited with the commissioner.   (6) If default occurs in the payment of interest or principal of any deposited security and the default continues for a period of 120 days, the commissioner may declare the security no longer eligible for deposit under this section.   History: En. Sec. 93, Ch. 286, L. 1959; R.C.M. 1947, 40-3012; amd. Sec; 2, Ch. 570, L. 1979; amd. Sec. 1, Ch. 427, L. 1981; amd. Sec. 19, Ch. 379, L. 1995; amd. Sec. 40, Ch. 304, L. 1999; Sec. 33-2-531, MCA 2013; redes. 33-2-416 by Sec. 40, Ch. 370, L. 2015.
MT Code § 33-2-417 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 4. Standard Valuation|33-2-417. Reserve calculation -- indeterminate premium plans -- minimum standards for disability plans and accident and health plans

  33-2-417. Reserve calculation -- indeterminate premium plans -- minimum standards for disability plans and accident and health plans. (1) In the case of a plan of life insurance that provides for future premium determination, the amounts of which are to be determined by the insurer based on then estimates of future experience, or in the case of a plan of life insurance or annuity that is of a nature that the minimum reserves cannot be determined by the methods described in 33-2-411 and 33-2-412(3), the reserves that are held under the plan must:   (a) be appropriate in relation to the benefits and the pattern of premiums for that plan; and   (b) be computed by a method that is consistent with the principles of 33-2-407 through 33-2-415.   (2) The commissioner may promulgate a rule containing the minimum standards applicable to the valuation of disability plans issued prior to the operative date of the valuation manual. For accident and health insurance contracts issued on or after the operative date of the valuation manual and after the applicable effective date provided in 33-2-403, the minimum standard of valuation prescribed by the valuation manual must be used.   History: En. Sec. 76, Ch. 379, L. 1995; amd. Sec. 7, Ch. 531, L. 1997; amd. Sec. 22, Ch. 370, L. 2015; Sec. 33-2-537, MCA 2013; redes. 33-2-417 by Sec. 40, Ch. 370, L. 2015.
MT Code § 33-2-418 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 4. Standard Valuation|33-2-418. Rulemaking

  33-2-418. Rulemaking. The commissioner shall adopt rules necessary to implement the provisions of this part, including but not limited to adopting the valuation manual.   History: En. Sec. 16, Ch. 370, L. 2015.
MT Code § 33-2-502 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-502. Assets expressly not allowed

  33-2-502. Assets expressly not allowed. In addition to assets impliedly excluded by the provisions of 33-2-501, the following expressly may not be allowed as assets in any determination of the financial condition of an insurer:   (1) goodwill, trade names, and other like intangible assets;   (2) advances to officers, other than policy loans, whether secured or not, and advances to employees, insurance producers, and other persons on personal security only;   (3) stock issued and owned by the insurer, any equity in the stock issued by the insurer, loans secured by the stock issued by the insurer, or any proportionate interest in the stock acquired or held through the ownership by the insurer of an interest in another firm, corporation, or business unit;   (4) furniture, fixtures (other than electronic data processing machines authorized under 33-2-501(11)), furnishings, safes, vehicles, libraries, stationery, literature, and supplies, except:   (a) in the case of title insurers, materials and plants that the insurer is expressly authorized to invest in under 33-25-211; and   (b) in the case of any insurer, personal property that the insurer is permitted to hold pursuant to chapter 12, that is acquired through foreclosure of chattel mortgages acquired pursuant to 33-12-207 or 33-12-307, or that is reasonably necessary for the maintenance and operation of real estate lawfully acquired and held by the insurer other than real estate used by it for home office, branch office, and similar purposes;   (5) the amount, if any, by which the aggregate book value of investments as carried in the ledger assets of the insurer exceeds the aggregate value of the investments as determined under this title; and   (6) prepaid expenses.   History: En. Sec. 84, Ch. 286, L. 1959; R.C.M. 1947, 40-3003; amd. Sec. 1, Ch. 713, L. 1989; amd. Sec. 39, Ch. 304, L. 1999; amd. Sec. 13, Ch. 472, L. 1999.
MT Code § 33-2-503 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-503. Treatment of assets

  33-2-503. Treatment of assets. Assets may be allowed as deductions from corresponding liabilities, liabilities may be charged as deductions from assets, and deductions from assets may be charged as liabilities, in accordance with the form of annual statement applicable to the insurer as prescribed by the commissioner.   History: En. Sec. 83, Ch. 286, L. 1959; R.C.M. 1947, 40-3002; amd. Sec. 1085, Ch. 56, L. 2009.
MT Code § 33-2-504 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-504. through 33-2-510 reserved

  33-2-504 through 33-2-510 reserved.
MT Code § 33-2-511 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-511. Liabilities chargeable against assets

  33-2-511. Liabilities chargeable against assets. In any determination of the financial condition of an insurer, capital stock and liabilities to be charged against its assets shall include:   (1) the amount of its capital stock outstanding, if any;   (2) the amount, estimated consistent with the provisions of this code, necessary to pay all of its unpaid losses and claims incurred on or prior to the date of statement, whether reported or unreported, together with the expenses of adjustment or settlement thereof;   (3) with reference to life and disability insurance and annuity contracts:   (a) the amount of reserves on life insurance policies and annuity contracts in force, valued according to the tables of mortality, rates of interest, and methods adopted pursuant to this code which are applicable thereto;   (b) reserves for disability benefits, for both active and disabled lives;   (c) reserves for accidental death benefits;   (d) any additional reserves which may be required by the commissioner, consistent with practice formulated or approved by the national association of insurance commissioners, on account of such insurance;   (4) with reference to insurance other than specified in subsection (3) of this section and other than title insurance, the amount of reserves equal to the unearned portions of the gross premiums charged on policies in force, computed in accordance with this part;   (5) taxes, expenses, and other obligations due or accrued at the date of the statement.   History: En. Sec. 85, Ch. 286, L. 1959; R.C.M. 1947, 40-3004.
MT Code § 33-2-512 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-512. Unearned premium reserve for property, casualty, and surety

  33-2-512. Unearned premium reserve for property, casualty, and surety. (1) As to insurance against loss or damage to property, except as provided in 33-2-513, and as to all general casualty insurance and surety insurance, every insurer shall maintain an unearned premium reserve on all policies in force.   (2) The commissioner may require that such reserves shall be equal to the unearned portions of the gross premiums in force after deducting applicable reinsurance in solvent insurers as computed on each respective risk from the policy's date of issue. If the commissioner does not so require, the portions of the gross premium in force, less applicable reinsurance in solvent insurers, to be held as an unearned premium reserve, shall be computed according to the following table:     Term for Which Policy   Reserve for Unearned       Was Written   Premium            1 year or less     1/2      2 years     1st year 3/4        2nd year 1/4       3 years     1st year 5/6        2nd year 1/2         3rd year 1/6       4 years     1st year 7/8        2nd year 5/8         3rd year 3/8         4th year 1/8       5 years     1st year 9/10        2nd year 7/10         3rd year 1/2         4th year 3/10         5th year 1/10       Over 5 years     pro rata    (3) In lieu of computation according to the foregoing table, the insurer at its option may compute all of such reserves on a monthly or more frequent pro rata basis.   (4) After adopting a method for computing such reserve, an insurer shall not change methods without approval of the commissioner.   (5) This section does not apply to title insurance.   History: En. Sec. 86, Ch. 286, L. 1959; R.C.M. 1947, 40-3005.
MT Code § 33-2-513 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-513. Unearned premium reserve for marine and transportation insurance

  33-2-513. Unearned premium reserve for marine and transportation insurance. As to marine and transportation insurance, the entire amount of premiums on trip risks not terminated shall be deemed unearned and the commissioner may require the insurer to carry a reserve equal to 100% of premiums on trip risks written during the month ended as of the date of statement.   History: En. Sec. 87, Ch. 286, L. 1959; R.C.M. 1947, 40-3006.
MT Code § 33-2-514 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-514. Reserve for disability insurance

  33-2-514. Reserve for disability insurance. (1) For all disability insurance policies, the insurer shall maintain an active life reserve that places a sound value on its liabilities under the policies and that may not be less than the pro rata gross unearned premiums for the policies.   (2) The commissioner may promulgate rules to define additional standards for reserve requirements.   History: En. Sec. 88, Ch. 286, L. 1959; R.C.M. 1947, 40-3007; amd. Sec. 5, Ch. 531, L. 1997.
MT Code § 33-2-515 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-515. Repealed

  33-2-515. Repealed. Sec. 44, Ch. 531, L. 1997.   History: En. Sec. 89, Ch. 286, L. 1959; R.C.M. 1947, 40-3008.
MT Code § 33-2-516 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-516. Inadequate reserves -- increase required

  33-2-516. Inadequate reserves -- increase required. If loss experience shows that an insurer's loss reserves, however computed or estimated, are inadequate, the commissioner shall require the insurer to maintain loss reserves in such increased amount as is needed to make them adequate.   History: En. Sec. 90, Ch. 286, L. 1959; R.C.M. 1947, 40-3009.
MT Code § 33-2-517 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-517. Title insurance reserves

  33-2-517. Title insurance reserves. (1) In addition to an adequate reserve as to outstanding losses as required under 33-2-511, a title insurer shall maintain a guaranty fund or unearned premium reserve of not less than an amount computed as follows:   (a) Ten percent of the total amount of the risk premiums written in the calendar year for title insurance contracts must be assigned originally to the reserve.   (b) During each of the 20 years next following the year in which the title insurance contract was issued, the reserve applicable to the contract must be reduced by 5% of the original amount of the reserve.   (2) The reserve sums required by subsection (1) for unearned premiums on contracts of title insurance must at all times and for all purposes be considered and constitute unearned portions of the original premiums and must be held in trust for the benefit of policyholders.   (3) The reduction of the unearned premium reserve required by subsection (1)(b) must be made for all title insurance contracts issued after December 31, 1958, with respect to which 10% of the risk premiums have been assigned to the reserve pursuant to subsection (1)(a). If the insurer has not reduced the amount of its unearned premium reserves pursuant to subsection (1)(b) for a previous year or years, the insurer shall make the reduction for the prior year or years in its next accounting year.   History: En. Sec. 91, Ch. 286, L. 1959; amd. Sec. 1, Ch. 96, L. 1977; R.C.M. 1947, 40-3010; amd. Sec. 6, Ch. 531, L. 1997.
MT Code § 33-2-519 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-519. and 3-2-520 reserved

  33-2-519 and 3-2-520 reserved.
MT Code § 33-2-521 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-521. Renumbered 33-2-407

  33-2-521. Renumbered 33-2-407. Sec. 40, Ch. 370, L. 2015.
MT Code § 33-2-522 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-522. Renumbered 33-2-408

  33-2-522. Renumbered 33-2-408. Sec. 40, Ch. 370, L. 2015.
MT Code § 33-2-523 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-523. Renumbered 33-2-409

  33-2-523. Renumbered 33-2-409. Sec. 40, Ch. 370, L. 2015.
MT Code § 33-2-524 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-524. Renumbered 33-2-410

  33-2-524. Renumbered 33-2-410. Sec. 40, Ch. 370, L. 2015.
MT Code § 33-2-525 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-525. Renumbered 33-2-411

  33-2-525. Renumbered 33-2-411. Sec. 40, Ch. 370, L. 2015.
MT Code § 33-2-526 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-526. Renumbered 33-2-412

  33-2-526. Renumbered 33-2-412. Sec. 40, Ch. 370, L. 2015.
MT Code § 33-2-527 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-527. Renumbered 33-2-413

  33-2-527. Renumbered 33-2-413. Sec. 40, Ch. 370, L. 2015.
MT Code § 33-2-528 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-528. Renumbered 33-2-414

  33-2-528. Renumbered 33-2-414. Sec. 40, Ch. 370, L. 2015.
MT Code § 33-2-529 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-529. Renumbered 33-2-415

  33-2-529. Renumbered 33-2-415. Sec. 40, Ch. 370, L. 2015.
MT Code § 33-2-530 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-530. reserved

  33-2-530 reserved.
MT Code § 33-2-531 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-531. Renumbered 33-2-416

  33-2-531. Renumbered 33-2-416. Sec. 40, Ch. 370, L. 2015.
MT Code § 33-2-532 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-532. Repealed

  33-2-532. Repealed. Sec. 40, Ch. 469, L. 2005.   History: En. Sec. 94, Ch. 286, L. 1959; R.C.M. 1947, 40-3013; amd. Sec. 41, Ch. 596, L. 1993.
MT Code § 33-2-533 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-533. Repealed

  33-2-533. Repealed. Sec. 40, Ch. 469, L. 2005.   History: En. Sec. 95, Ch. 286, L. 1959; R.C.M. 1947, 40-3014; amd. Sec. 42, Ch. 596, L. 1993.
MT Code § 33-2-534 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-534. Repealed

  33-2-534. Repealed. Sec. 40, Ch. 469, L. 2005.   History: En. Sec. 96, Ch. 286, L. 1959; R.C.M. 1947, 40-3015; amd. Sec. 2, Ch. 534, L. 1987; amd. Sec. 41, Ch. 304, L. 1999.
MT Code § 33-2-535 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-535. Repealed

  33-2-535. Repealed. Sec. 40, Ch. 469, L. 2005.   History: En. Sec. 97, Ch. 286, L. 1959; R.C.M. 1947, 40-3016.
MT Code § 33-2-536 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-536. Repealed

  33-2-536. Repealed. Sec. 44, Ch. 531, L. 1997.   History: En. Sec. 8, Ch. 520, L. 1983.
MT Code § 33-2-537 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 5. Assets and Liabilities -- Reserves|33-2-537. Renumbered 33-2-417

  33-2-537. Renumbered 33-2-417. Sec. 40, Ch. 370, L. 2015.
MT Code § 33-2-601 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 6. Deposits|33-2-601. Authorized deposits of insurers

  33-2-601. Authorized deposits of insurers. The following deposits of insurers when made through the commissioner must be accepted and held and are subject to the provisions of this part:   (1) deposits required under this code for authority to transact insurance in this state;   (2) deposits of domestic insurers when required by the laws of other states, provinces, and countries as a condition for the authority to transact insurance; or   (3) deposits of reserves made by domestic life insurers under 33-2-416.   History: En. Sec. 132, Ch. 286, L. 1959; R.C.M. 1947, 40-3201; amd. Sec. 7, Ch. 227, L. 2011.