MT Code § 33-18-103 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 18. Unfair Trade Practices|Part 1. General Provisions|33-18-103. Protection of active duty members of armed forces -- rulemaking authority

  33-18-103. Protection of active duty members of armed forces -- rulemaking authority. (1) (a) As used in this section, "life insurance product" means any product, including individual and group life insurance, funding agreements, and annuities, that provides insurance for which the probabilities of the duration of human life or the rate of mortality are an element or condition of insurance.   (b) The term includes the granting of:   (i) endowment benefits;   (ii) additional benefits in the event of death by accident or accidental means;   (iii) disability income benefits;   (iv) additional disability benefits that operate to safeguard the contract from lapse or to provide a special surrender value or special benefit in the event of total and permanent disability;   (v) benefits that provide payment or reimbursement for long-term home health care or long-term care in a nursing home or other related facility;   (vi) burial insurance; and   (vii) optional modes of settlement or proceeds of life insurance.   (c) The term does not include workers' compensation insurance, health insurance, disability insurance, property and casualty insurance, or life insurance products specifically contracted by or through the federal government.   (2) As provided in Public Law 109-290, in cooperation with the national association of insurance commissioners, the commissioner shall:   (a) work collectively with other states to develop and implement appropriate standards to protect active duty members of the armed forces from dishonest and predatory insurance sales practices;   (b) identify this state's role in promoting standards developed pursuant to subsection (2)(a); and   (c) work collectively with other states to implement a system to receive and disseminate reports of disciplinary actions taken by federal or state government entities or insurers against persons that sell or solicit the sale of any life insurance product to active duty members of the armed forces.   (3) (a) The commissioner may adopt rules for:   (i) written disclosures to be used in the sale or solicitation of any life insurance product to active duty members of the armed forces and their dependents to protect the members or the members' dependents from dishonest and predatory insurance sales practices while located in this state;   (ii) requiring insurers to implement a system to report to the commissioner:   (A) disciplinary actions taken by a federal or state government entity with respect to sales or solicitations of life insurance products to active duty members of the armed forces that the insurer knows or in the exercise of due diligence should have known were taken; and   (B) significant disciplinary action taken by the insurer with respect to sales or solicitations of life insurance products to active duty members of the armed forces of this state.   (b) Rules adopted by the commissioner must be consistent with and may not go beyond the scope of:   (i) any model regulations that are adopted by the national association of insurance commissioners in response to a directive from the United States congress in Public Law 109-290, directing that the states ensure implementation of appropriate standards to protect active duty members of the armed forces from dishonest and predatory insurance sales practices;   (ii) rules or regulations adopted by the secretary of defense pursuant to Public Law 109-290; and   (iii) the requirements of Public Law 109-290.   History: En. Sec. 1, Ch. 333, L. 2007.