reglab/housing_qa huggingface dataset:
MT Code § 33-5-301 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 3. Management|33-5-301. Power of attorney

  33-5-301. Power of attorney. (1) The rights and powers of the attorney of a reciprocal insurer shall be as provided in the power of attorney given it by the subscribers.   (2) The power of attorney must set forth:   (a) the powers of the attorney;   (b) that the attorney is empowered to accept service of process on behalf of the insurer in actions against the insurer upon contracts exchanged;   (c) the general services to be performed by the attorney;   (d) the maximum amount to be deducted from advance premiums or deposits to be paid to the attorney and the general items of expense in addition to losses to be paid by the insurer; and   (e) except as to nonassessable policies, a provision for a contingent several liability of each subscriber in a specified amount, which amount shall be not less than 1 or more than 10 times the premium or premium deposit stated in the policy.   (3) The power of attorney may:   (a) provide for the right of substitution of the attorney and revocation of the power of attorney and rights thereunder;   (b) impose such restrictions upon the exercise of the power as are agreed upon by the subscribers;   (c) provide for the exercise of any right reserved to the subscribers directly or through their advisory committee; and   (d) contain other lawful provisions deemed advisable.   (4) The terms of any power of attorney or agreement collateral thereto shall be reasonable and equitable, and no such power or agreement shall be used or be effective as to a domestic reciprocal insurer until approved by the commissioner.   History: En. Sec. 547, Ch. 286, L. 1959; R.C.M. 1947, 40-5010.
MT Code § 33-5-302 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 3. Management|33-5-302. Modifications

  33-5-302. Modifications. Modifications of the terms of the subscribers' agreement or of the power of attorney of a domestic reciprocal insurer shall be made jointly by the attorney and the subscribers' advisory committee. No such modification shall be effective retroactively or as to any insurance contract issued prior thereto.   History: En. Sec. 548, Ch. 286, L. 1959; R.C.M. 1947, 40-5011.
MT Code § 33-5-303 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 3. Management|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 funds of the insurer any money or property to which the attorney is not entitled under the power of attorney.   (3) The bond must provide that it is not subject to cancellation unless 30 days' advance notice in writing of cancellation is given to both the attorney and the commissioner.   History: En. Sec. 549, Ch. 286, L. 1959; R.C.M. 1947, 40-5012; amd. Sec. 1158, Ch. 56, L. 2009.
MT Code § 33-5-304 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 3. Management|33-5-304. Action on bond

  33-5-304. Action on bond. Action on the attorney's bond or to recover against any such deposit made in lieu thereof may be brought at any time by one or more subscribers suffering loss through a violation of its conditions or by a receiver or liquidator of the insurer. Amounts recovered on the bond shall be deposited in and become part of the insurer's funds. The total aggregate liability of the surety shall be limited to the amount of the penalty of such bond.   History: En. Sec. 550, Ch. 286, L. 1959; R.C.M. 1947, 40-5013.
MT Code § 33-5-305 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 3. Management|33-5-305. Subscribers' advisory committee -- duties

  33-5-305. Subscribers' advisory committee -- duties. (1) The advisory committee of a domestic reciprocal insurer exercising the subscribers' rights shall be selected under such rules as the subscribers adopt.   (2) Not less than two-thirds of such committee shall be subscribers other than the attorney or any person employed by, representing, or having a financial interest in the attorney.   (3) The committee shall:   (a) supervise the finances of the insurer;   (b) supervise the insurer's operations to such extent as to assure conformity with the subscribers' agreement and power of attorney;   (c) procure the audit of the accounts and records of the insurer and of the attorney at the expense of the insurer; and   (d) have such additional powers and functions as may be conferred by the subscribers' agreement.   History: En. Sec. 555, Ch. 286, L. 1959; R.C.M. 1947, 40-5018.
MT Code § 33-5-401 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 4. Finance|33-5-401. Surplus funds required

  33-5-401. Surplus funds required. (1) A domestic reciprocal insurer subject to this part, if it has otherwise complied with the applicable provisions of this code, may be authorized to transact insurance if it has and maintains surplus funds as follows:   (a) to transact property insurance, surplus funds of not less than $500,000;   (b) to transact casualty insurance:   (i) including authority for workers' compensation insurance, surplus funds of not less than $750,000; or   (ii) excluding authority for workers' compensation insurance, surplus funds of not less than $500,000.   (2) In addition to surplus funds required to be maintained under subsection (1), the insurer must have, when first authorized, expendable surplus in the same amount as required of a like foreign reciprocal insurer under 33-2-110.   (3) A domestic reciprocal insurer may be authorized to transact additional kinds of insurance if it has otherwise complied with the provisions of this code for the additional kinds of insurance and maintains surplus funds in an amount equal to the minimum capital stock required of a stock insurer for authority to transact a like combination of kinds of insurance.   History: En. Sec. 544, Ch. 286, L. 1959; R.C.M. 1947, 40-5007; amd. Sec. 1, Ch. 307, L. 1979; amd. Sec. 37, Ch. 379, L. 1995; amd. Sec. 34, Ch. 227, L. 2001.
MT Code § 33-5-402 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 4. Finance|33-5-402. Contributions to insurer

  33-5-402. Contributions to insurer. The attorney or other parties may advance to a domestic reciprocal insurer upon reasonable terms funds that it may require from time to time in its operations. Sums advanced may not be treated as a liability of the insurer. Except upon liquidation of the insurer, during any calendar year, the total of withdrawals and repayments of the advanced sums may not exceed the lesser of the insurer's realized earned surplus or 10% of the sums advanced as of the previous December 31. A withdrawal or repayment may not be made without the advance approval of the commissioner. This section does not apply to bank loans or to loans for which security is given.   History: En. Sec. 552, Ch. 286, L. 1959; R.C.M. 1947, 40-5015; amd. Sec. 19, Ch. 531, L. 1997; amd. Sec. 23, Ch. 472, L. 1999.
MT Code § 33-5-403 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 4. Finance|33-5-403. Financial condition -- method of determining

  33-5-403. Financial condition -- method of determining. In determining the financial condition of a reciprocal insurer the commissioner shall apply the following rules:   (1) The commissioner shall charge as liabilities the same reserves that are required of incorporated insurers issuing nonassessable policies on a reserve basis.   (2) The surplus deposits of subscribers must be allowed as assets, except that any premium deposits delinquent for 90 days must first be charged against the surplus deposit.   (3) The surplus deposits of subscribers may not be charged as a liability.   (4) All premium deposits that are delinquent for less than 90 days must be allowed as assets.   (5) An assessment levied upon subscribers and not collected may not be allowed as an asset.   (6) The contingent liability of subscribers may not be allowed as an asset.   (7) The computation of reserves must be based upon premium deposits other than membership fees and without any deduction for expenses and the compensation of the attorney.   History: En. Sec. 553, Ch. 286, L. 1959; R.C.M. 1947, 40-5016; amd. Sec. 1159, Ch. 56, L. 2009.
MT Code § 33-5-404 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 4. Finance|33-5-404. Subscribers' liability

  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.   History: En. Sec. 556, Ch. 286, L. 1959; R.C.M. 1947, 40-5019; amd. Sec. 1160, Ch. 56, L. 2009.
MT Code § 33-5-405 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 4. Finance|33-5-405. Subscribers' liability on judgment

  33-5-405. Subscribers' liability on judgment. (1) An action may not lie against any subscriber upon any obligation claimed against the insurer until a final judgment has been obtained against the insurer and remains unsatisfied for 30 days.   (2) Any judgment described in subsection (1) is binding upon each subscriber only in the proportion that the subscriber's interests may appear and in an amount not exceeding the subscriber's contingent liability, if any.   History: En. Sec. 557, Ch. 286, L. 1959; R.C.M. 1947, 40-5020; amd. Sec. 1161, Ch. 56, L. 2009.
MT Code § 33-5-406 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 4. Finance|33-5-406. Assessments

  33-5-406. Assessments. (1) Assessments may from time to time be levied upon subscribers of a domestic reciprocal insurer liable for the assessment under the terms of their policies by the attorney upon approval in advance by the subscribers' advisory committee and the commissioner or by the commissioner in liquidation of the insurer.   (2) Each subscriber's share of a deficiency for which an assessment is made, but not exceeding in any event the subscriber's aggregate contingent liability as stated in accordance with 33-5-404, must be computed by applying to the premium earned on the subscriber's policy or policies during the period to be covered by the assessment the ratio of the total deficiency to the total premiums earned during the period upon all policies subject to the assessment.   (3) In computing the earned premiums for the purposes of this section, the gross premium received by the insurer for the policy must be used as a base, deducting only charges not recurring upon the renewal or extension of the policy.   (4) A subscriber may not have an offset against any assessment for which the subscriber is liable on account of any claim for unearned premium or losses payable.   History: En. Sec. 558, Ch. 286, L. 1959; R.C.M. 1947, 40-5021; amd. Sec. 1162, Ch. 56, L. 2009.
MT Code § 33-5-407 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 4. Finance|33-5-407. Time limit for assessments

  33-5-407. Time limit for assessments. Every subscriber of a domestic reciprocal insurer having contingent liability must be liable for and shall pay the subscriber's share of any assessment, as computed and limited in accordance with this chapter, if:   (1) while the subscriber's policy is in force or within 1 year after its termination, the subscriber is notified by either the attorney or the commissioner of the intention to levy an assessment; or   (2) an order to show cause why a receiver, conservator, rehabilitator, or liquidator of the insurer should not be appointed is issued while the subscriber's policy is in force or within 1 year after its termination.   History: En. Sec. 559, Ch. 286, L. 1959; R.C.M. 1947, 40-5022; amd. Sec. 1163, Ch. 56, L. 2009.
MT Code § 33-5-408 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 4. Finance|33-5-408. Aggregate liability

  33-5-408. Aggregate liability. No one policy or subscriber as to such policy shall be assessed or charged with an aggregate of contingent liability as to obligations incurred by a domestic reciprocal insurer in any one calendar year in excess of the amount provided for in the power of attorney or in the subscribers' agreement, computed solely upon premium earned on such policy during that year.   History: En. Sec. 560, Ch. 286, L. 1959; R.C.M. 1947, 40-5023.
MT Code § 33-5-409 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 4. Finance|33-5-409. Nonassessable policies

  33-5-409. Nonassessable policies. (1) If a reciprocal insurer has a surplus of assets over all liabilities at least equal to the minimum capital stock required of a domestic stock insurer authorized to transact similar kinds of insurance, upon application of the attorney and as approved by the subscribers' advisory committee, the commissioner shall issue a certificate authorizing the insurer to extinguish the contingent liability of subscribers under its policies then in force in this state and to omit provisions imposing contingent liability in all policies delivered or issued for delivery in this state for as long as all the surplus remains unimpaired.   (2) Upon impairment of the surplus, the commissioner shall revoke the certificate. The revocation may not make a policy subject to contingent liability if the policy is then in force and for the remainder of the period for which the premium has been paid. However, after the revocation, a policy may not be issued or renewed without providing for contingent assessment liability of the subscriber.   (3) The commissioner may not authorize a domestic reciprocal insurer to extinguish the contingent liability of any of its subscribers or in any of its policies to be issued unless it qualifies to and does extinguish the liability of all its subscribers and in all policies for all kinds of insurance transacted by it. However, if required by the laws of another state in which the insurer is transacting insurance as an authorized insurer, the insurer may issue policies providing for the contingent liability of those of its subscribers that may acquire the policies in that state and need not extinguish the contingent liability applicable to policies previously in force in that state.   History: En. Sec. 561, Ch. 286, L. 1959; R.C.M. 1947, 40-5024; amd. Sec. 1164, Ch. 56, L. 2009.
MT Code § 33-5-410 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 4. Finance|33-5-410. Distribution of savings

  33-5-410. Distribution of savings. A reciprocal insurer may from time to time return to its subscribers any unused premiums, savings, or credits accruing to their accounts. Any such distribution shall not unfairly discriminate between classes of risks or policies or between subscribers, but this shall not prevent retrospective rating, distribution on a retrospective plan, or distribution varying as to classes of subscribers based on the experience of such subscribers.   History: En. Sec. 562, Ch. 286, L. 1959; R.C.M. 1947, 40-5025.
MT Code § 33-5-411 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 4. Finance|33-5-411. Subscribers' share in assets

  33-5-411. Subscribers' share in assets. Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharge of its indebtedness and policy obligations, the return of any contributions of the attorney or other persons to its surplus made as provided in 33-5-402, and the return of any unused premium, savings, or credits then standing on subscribers' accounts shall be distributed to its subscribers who were such within the 12 months prior to the last termination of its certificate of authority, according to such reasonable formula as the commissioner may approve.   History: En. Sec. 563, Ch. 286, L. 1959; R.C.M. 1947, 40-5026.
MT Code § 33-5-412 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 4. Finance|33-5-412. Impaired reciprocals

  33-5-412. Impaired reciprocals. (1) If the assets of a reciprocal insurer are at any time insufficient to discharge its liabilities, other than any liability on account of funds contributed by the attorney or others, and to maintain the required surplus, its attorney shall make up the deficiency or levy an assessment upon the subscribers for the amount needed to make up the deficiency, but subject to the limitation set forth in the power of attorney or policy.   (2) If the attorney fails to make up the deficiency or to make the assessment within 30 days after the commissioner orders the attorney to do so or if the deficiency is not fully made up within 60 days after the date the assessment was made, the insurer is considered insolvent and must be proceeded against as authorized by this code.   (3) If liquidation of an insurer is ordered, an assessment must be levied upon the subscriber for an amount, subject to limits as provided by this chapter, that the commissioner determines to be necessary to discharge all liabilities of the insurer, exclusive of any funds contributed by the attorney or other persons but including the reasonable cost of the liquidation.   History: En. Sec. 565, Ch. 286, L. 1959; R.C.M. 1947, 40-5028; amd. Sec. 1165, Ch. 56, L. 2009.
MT Code § 33-5-413 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 4. Finance|33-5-413. Annual statement

  33-5-413. Annual statement. (1) The annual statement of a reciprocal insurer shall be made and filed by its attorney.   (2) The statement shall be supplemented by such information as may be required by the commissioner relative to the affairs and transactions of the attorney insofar as they relate to the reciprocal insurer.   History: En. Sec. 551, Ch. 286, L. 1959; R.C.M. 1947, 40-5014.
MT Code § 33-5-501 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 5. Insurance Operations|33-5-501. Insuring powers of reciprocals

  33-5-501. Insuring powers of reciprocals. (1) A reciprocal insurer may, upon qualifying therefor as provided for by this code, transact any kind or kinds of insurance defined by this code, other than life or title insurances.   (2) Such an insurer may purchase reinsurance and may grant reinsurance as to any kind of insurance it is authorized to transact.   History: En. Sec. 541, Ch. 286, L. 1959; R.C.M. 1947, 40-5004.
MT Code § 33-5-502 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 5. Insurance Operations|33-5-502. Certificate of authority

  33-5-502. Certificate of authority. (1) The certificate of authority of a reciprocal insurer shall be issued to its attorney in the name of the insurer.   (2) The commissioner may refuse, suspend, or revoke the certificate of authority, in addition to other grounds therefor, for failure of the attorney to comply with any provision of this code.   History: En. Sec. 546, Ch. 286, L. 1959; R.C.M. 1947, 40-5009.
MT Code § 33-5-503 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 5. Reciprocal Insurers|Part 5. Insurance Operations|33-5-503. Eligible subscribers -- liability of representative

  33-5-503. Eligible subscribers -- liability of representative. (1) Individuals, partnerships, and corporations of this state may make application, enter into agreement for, hold policies or contracts in or with, and be a subscriber of any domestic, foreign, or alien reciprocal insurer. Any corporation now or hereafter organized under the laws of this state shall, in addition to the rights, powers, and franchises specified in its articles of incorporation, have full power and authority as a subscriber to exchange insurance contracts through such reciprocal insurer. The right to exchange such contracts is hereby declared to be incidental to the purposes for which such corporations are organized and to be as fully granted as the rights and powers expressly conferred upon such corporations.   (2) Government or governmental agencies, state or political subdivisions thereof, boards, associations, estates, trustees, or fiduciaries are authorized to exchange nonassessable reciprocal interinsurance contracts with each other and with individuals, partnerships, and corporations to the same extent that individuals, partnerships, and corporations are herein authorized to exchange reciprocal interinsurance contracts.   (3) Any officer, representative, trustee, receiver, or legal representative of any such subscriber shall be recognized as acting for or on its behalf for the purpose of such contract but shall not be personally liable upon such contract by reason of acting in such representative capacity.   History: En. Sec. 554, Ch. 286, L. 1959; R.C.M. 1947, 40-5017.
MT Code § 33-6-101 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 6. Benevolent Associations|Part 1. General Provisions|33-6-101. Repealed

  33-6-101. Repealed. Sec. 6, Ch. 26, L. 2019.   History: (1), (2)En. Sec. 521, Ch. 286, L. 1959; Sec. 40-4901, R.C.M. 1947; (3)En. Sec. 537, Ch. 286, L. 1959; amd. Sec. 1, Ch. 297, L. 1971; Sec. 40-4917, R.C.M. 1947; R.C.M. 1947, 40-4901, 40-4917; amd. Sec. 141, Ch. 575, L. 1981; amd. Sec. 45, Ch. 304, L. 1999; amd. Sec. 9, Ch. 60, L. 2019.