reglab/housing_qa huggingface dataset:
MT Code § 33-10-108 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 10. Insurance Guaranty Associations|Part 1. Casualty and Property Insurance Guaranty Associations|33-10-108. Prevention of insolvencies -- directors' and commissioner's action

  33-10-108. Prevention of insolvencies -- directors' and commissioner's action. (1) It is the duty of the board of directors, upon majority vote, to notify the commissioner of any information indicating that any member insurer may be insolvent or in a financial condition hazardous to the policyholders or the public.   (2) The board of directors may, upon majority vote, request that the commissioner order an examination of any member insurer that the board in good faith believes may be in a financial condition hazardous to the policyholders or the public. Within 30 days of the receipt of the request, the commissioner shall begin the examination. The examination may be conducted as a national association of insurance commissioners examination or may be conducted by persons that the commissioner designates. The cost of the examination must be paid by the association, and the examination report must be treated as are other examination reports. The examination report may not be released to the board of directors prior to its release to the public, but this does not preclude the commissioner from complying with subsection (3). The commissioner shall notify the board of directors when the examination is completed. The request for an examination must be kept on file by the commissioner, but it may not be open to public inspection prior to the release of the examination report to the public.   (3) It is the duty of the commissioner to report to the board of directors when the commissioner has reasonable cause to believe that any member insurer examined or being examined at the request of the board of directors may be insolvent or in a financial condition hazardous to the policyholders or the public.   (4) The board of directors may, upon majority vote, make reports and recommendations to the commissioner upon any matter germane to the solvency, liquidation, rehabilitation, or supervision of any member insurer. The reports and recommendations may not be considered public documents.   (5) The board of directors may, upon majority vote, make recommendations to the commissioner for the detection and prevention of insurer insolvencies.   (6) The board of directors shall, at the conclusion of any insurer insolvency in which the association was obligated to pay covered claims, prepare a report on the history and causes of the insolvency, based on the information available to the association, and submit the report to the commissioner.   History: En. Sec. 13, Ch. 63, L. 1971; R.C.M. 1947, 40-5713; amd. Sec. 140, Ch. 575, L. 1981; amd. Sec. 1177, Ch. 56, L. 2009.
MT Code § 33-10-109 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 10. Insurance Guaranty Associations|Part 1. Casualty and Property Insurance Guaranty Associations|33-10-109. Notice of insolvencies -- suspension -- other powers and duties of commissioner

  33-10-109. Notice of insolvencies -- suspension -- other powers and duties of commissioner. (1) The commissioner shall:   (a) notify the association of the existence of an insolvent insurer not later than 3 days after the commissioner receives notice of the determination of the insolvency;   (b) upon request of the board of directors, provide the association with a statement of the net direct written premiums of each member insurer.   (2) The commissioner may:   (a) require that the association notify the insureds of the insolvent insurer and any other interested parties of the determination of insolvency and of their rights under this part. The notification must be by mail at their last-known addresses, where available, but if sufficient information for notification by mail is not available, notice by publication in a newspaper of general circulation is sufficient.   (b) suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any member insurer that fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative, the commissioner may levy a fine on any member insurer that fails to pay an assessment when due. The fine may not exceed 5% of the unpaid assessment a month, except that a fine may not be less than $100 a month.   (c) revoke the designation of any servicing facility if the commissioner finds claims are being handled unsatisfactorily.   (3) Any final action or order of the commissioner under this part must be subject to judicial review in a court of competent jurisdiction.   History: En. Sec. 10, Ch. 63, L. 1971; R.C.M. 1947, 40-5710; amd. Sec. 1178, Ch. 56, L. 2009.
MT Code § 33-10-110 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 10. Insurance Guaranty Associations|Part 1. Casualty and Property Insurance Guaranty Associations|33-10-110. Immunity

  33-10-110. Immunity. There is not any liability on the part of and a cause of action of any nature may not be brought against any member insurer or its agents or employees, the association or the association's agents or employees, the board of directors, or the commissioner or the commissioner's representatives for any action taken by them in the performance of their powers and duties under this part.   History: En. Sec. 17, Ch. 63, L. 1971; R.C.M. 1947, 40-5717; amd. Sec. 1, Ch. 713, L. 1989; amd. Sec. 2, Ch. 29, L. 2005.
MT Code § 33-10-111 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 10. Insurance Guaranty Associations|Part 1. Casualty and Property Insurance Guaranty Associations|33-10-111. Stay of proceedings -- reopening of default judgments

  33-10-111. Stay of proceedings -- reopening of default judgments. (1) All proceedings in which the insolvent insurer is a party or is obligated to defend a party in any court in this state must be stayed for 6 months from the date the insolvency is determined or an ancillary proceeding is instituted in the state, whichever is later, or must be stayed for any additional time as may be determined by the court in order to permit proper defense by the association of all pending causes of action.   (2) As to any covered claims arising from a judgment under any decision, verdict, or finding based on the default of the insolvent insurer or its failure to defend an insured, the association either on its own behalf or on behalf of the insured may apply to have the judgment, order, decision, verdict, or finding set aside by the same court or administrator that made the judgment, order, decision, verdict, or finding and must be permitted to defend against the claim on the merits.   History: En. Sec. 18, Ch. 63, L. 1971; R.C.M. 1947, 40-5718; amd. Sec. 54, Ch. 596, L. 1993.
MT Code § 33-10-112 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 10. Insurance Guaranty Associations|Part 1. Casualty and Property Insurance Guaranty Associations|33-10-112. Examination of association

  33-10-112. Examination of association. The association shall be subject to examination and regulation by the commissioner. The board of directors shall submit, not later than March 30 of each year, a financial report for the preceding calendar year in a form approved by the commissioner.   History: En. Sec. 14, Ch. 63, L. 1971; R.C.M. 1947, 40-5714.
MT Code § 33-10-113 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 10. Insurance Guaranty Associations|Part 1. Casualty and Property Insurance Guaranty Associations|33-10-113. Claims -- notice

  33-10-113. Claims -- notice. Notice of claims to the receiver or liquidator of the insolvent insurer shall be deemed notice to the association or its insurance producer, and a list of such claims shall be periodically submitted to the association or similar organization in another state by the receiver or liquidator.   History: En. Sec. 9, Ch. 63, L. 1971; R.C.M. 1947, 40-5709(part); amd. Sec. 1, Ch. 713, L. 1989.
MT Code § 33-10-114 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 10. Insurance Guaranty Associations|Part 1. Casualty and Property Insurance Guaranty Associations|33-10-114. Claims -- effect as to insured and receiver

  33-10-114. Claims -- effect as to insured and receiver. (1) Any person recovering under this part is considered to have assigned the person's rights under the policy to the association to the extent of the person's recovery from the association. Every insured or claimant seeking the protection of this part shall cooperate with the association to the same extent that the person would have been required to cooperate with the insolvent insurer. The association does not have a cause of action against the insured of the insolvent insurer for any sums it has paid out except causes of action that the insolvent insurer would have had if the sums had been paid by the insolvent insurer. In the case of an insolvent insurer operating on a plan with assessment liability, payments of claims of the association may not operate to reduce the liability of insureds to the receiver, liquidator, or statutory successor for unpaid assessments.   (2) The association has the right to recover from the following persons the amount of any "covered claim" paid on behalf of the person pursuant to this part:   (a) any insured whose net worth, on December 31 of the year preceding the date the insurer becomes an insolvent insurer, exceeds $50 million and whose liability obligations to other persons are satisfied in whole or in part by payments made under this part; and   (b) any person who is an affiliate of the insolvent insurer and whose liability obligations to other persons are satisfied in whole or in part by payments made under this part.   (3) The receiver, liquidator, or statutory successor of an insolvent insurer is bound by settlements of covered claims by the association or a similar organization in another state. The court having jurisdiction shall grant the claims priority equal to that which the claimant would have been entitled in the absence of this part against the assets of the insolvent insurer. The expenses of the association or similar organization in handling claims must be accorded the same priority as the liquidator's expenses.   (4) The association shall periodically file with the receiver or liquidator of the insolvent insurer statements of the covered claims paid by the association and estimates of anticipated claims on the association which shall preserve the rights of the association against the assets of the insolvent insurer.   History: En. Sec. 11, Ch. 63, L. 1971; R.C.M. 1947, 40-5711; amd. Sec. 55, Ch. 596, L. 1993.
MT Code § 33-10-115 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 10. Insurance Guaranty Associations|Part 1. Casualty and Property Insurance Guaranty Associations|33-10-115. Recovery -- sequence -- nonduplication

  33-10-115. Recovery -- sequence -- nonduplication. (1) Any person having a claim against an insurer under any provision in an insurance policy other than a policy of an insolvent insurer that is also a covered claim must be required to exhaust the person's right under the policy. Any amount payable on a covered claim under this part must be reduced by the amount of any recovery under the insurance policy.   (2) Any person having a claim that may be recovered under more than one insurance guaranty association or its equivalent shall seek recovery first from the association of the place of residence of the insured, except that if it is a first party claim for damage to property with a permanent location, the person shall seek recovery first from the association of the location of the property, and if it is a workers' compensation claim, the person shall seek recovery first from the association of the residence of the claimant. Any recovery under this part must be reduced by the amount of recovery from any other insurance guaranty association or its equivalent.   History: En. Sec. 12, Ch. 63, L. 1971; R.C.M. 1947, 40-5712; amd. Sec. 1179, Ch. 56, L. 2009.
MT Code § 33-10-116 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 10. Insurance Guaranty Associations|Part 1. Casualty and Property Insurance Guaranty Associations|33-10-116. Assessment

  33-10-116. Assessment. (1) The association shall assess insurers amounts necessary to pay the obligations of the association under 33-10-105(1)(a) subsequent to an insolvency, the expenses of handling covered claims subsequent to an insolvency, the cost of examinations under 33-10-108, and other expenses authorized by this part.   (2) The assessments of each member insurer shall be in the proportion that the net direct written premiums of the member insurer for the preceding calendar year bear to the net direct written premiums of all member insurers for the preceding calendar year. Each member insurer shall be notified of the assessment not later than 30 days before it is due. No member insurer may be assessed in any year an amount greater than 2% of that member insurer's net direct written premiums for the preceding calendar year.   (3) If the maximum assessment together with the other assets of the association does not provide in any one year an amount sufficient to make all necessary payments, the funds available shall be prorated and the unpaid portion shall be paid as soon thereafter as funds become available.   (4) The association may exempt or defer, in whole or in part, the assessment of any member insurer, if the assessment would cause the member insurer's financial statement to reflect amounts of capital or surplus less than the minimum amounts required for a certificate of authority by any jurisdiction in which the member insurer is authorized to transact insurance.   (5) Each member insurer may set off against any assessment authorized payments made on covered claims and expenses incurred in the payment of such claims by the member insurer.   History: En. Sec. 8, Ch. 63, L. 1971; R.C.M. 1947, 40-5708(1)(c).
MT Code § 33-10-117 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 10. Insurance Guaranty Associations|Part 1. Casualty and Property Insurance Guaranty Associations|33-10-117. Recognition of assessments in rates

  33-10-117. Recognition of assessments in rates. The rates and premiums charged for insurance policies to which this part applies shall include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer less any amounts returned to the member insurer by the association, and such rates shall not be deemed excessive because they contain an amount reasonably calculated to recoup assessments paid by the member insurer.   History: En. Sec. 16, Ch. 63, L. 1971; R.C.M. 1947, 40-5716.
MT Code § 33-10-201 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 10. Insurance Guaranty Associations|Part 2. Life and Health Insurance Guaranty Associations|33-10-201. Short title, purpose, and construction

  33-10-201. Short title, purpose, and construction. (1) This part may be cited as the "Montana Life and Health Insurance Guaranty Association Act".   (2) The purpose of this part is to protect policyowners, insureds, beneficiaries, annuitants, payees, and assignees of life insurance policies, health insurance policies, annuity contracts, and supplemental contracts, subject to certain limitations, against failure in the performance of contractual obligations due to the impairment or insolvency of the insurer issuing the policies or contracts.   (3) To provide this protection:   (a) an association of insurers is created to enable the guaranty of payment of benefits and of continuation of coverages;   (b) members of the association are subject to assessment to provide funds to carry out the purpose of this part; and   (c) the association is authorized to assist the commissioner, in the prescribed manner, in the detection and prevention of insurer impairments or insolvencies.   (4) This part must be liberally construed to effect the purpose under subsections (2) and (3), which constitute an aid and guide to interpretation.   (5) This part may not be construed to reduce the liability for unpaid assessments of the insureds of an impaired or insolvent insurer operating under a plan with assessment liability.   History: En. 40-5801 thru 40-5804, 40-5814 by Secs. 1 thru 4, 14, Ch. 245, L. 1974; R.C.M. 1947, 40-5801, 40-5802, 40-5803, 40-5804, 40-5814(1); amd. Sec. 1, Ch. 576, L. 1987; amd. Sec. 56, Ch. 596, L. 1993; amd. Sec. 39, Ch. 379, L. 1995; amd. Sec. 3, Ch. 195, L. 2003; amd. Sec. 1, Ch. 27, L. 2011.
MT Code § 33-10-203 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 10. Insurance Guaranty Associations|Part 2. Life and Health Insurance Guaranty Associations|33-10-203. Creation of association -- accounts -- supervision by commissioner

  33-10-203. Creation of association -- accounts -- supervision by commissioner. (1) There is created a nonprofit legal entity to be known as the Montana life and health insurance guaranty association. A member insurer must be and remain a member of the association as a condition of the member's authority to transact insurance in this state. The association shall perform functions under the plan of operation established and approved under 33-10-216 and shall exercise powers through a board of directors established under 33-10-204.   (2) For purposes of administration and assessment, the association shall maintain two accounts:   (a) the health insurance account; and   (b) the life insurance and annuity account that includes the following subaccounts:   (i) the life insurance account;   (ii) the annuity account that includes contracts owned by a governmental retirement plan or the plan's trustee established under section 401, 403(b), or 457 of the Internal Revenue Code, but does not otherwise include unallocated annuities; and   (iii) the unallocated annuity account that must exclude unallocated annuity contracts owned by a governmental retirement benefit plan or the plan's trustee established under section 401, 403(b), or 457 of the Internal Revenue Code.   (3) The association is under the immediate supervision of the commissioner and is subject to the applicable provisions of the insurance laws of this state.   History: En. 40-5806 by Sec. 6, Ch. 245, L. 1974; R.C.M. 1947, 40-5806; amd. Sec. 58, Ch. 596, L. 1993; amd. Sec. 5, Ch. 195, L. 2003; amd. Sec. 9, Ch. 469, L. 2005.
MT Code § 33-10-204 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 10. Insurance Guaranty Associations|Part 2. Life and Health Insurance Guaranty Associations|33-10-204. Board of directors -- commissioner approval -- compensation

  33-10-204. Board of directors -- commissioner approval -- compensation. (1) The board of directors of the association consists of seven members serving terms as established in the plan of operation. Two of the members must be appointed from the public at large by the commissioner. The other members of the board must be selected by member insurers subject to the approval of the commissioner. Vacancies on the board must be filled for the remaining period of the term in the manner described in the plan of operation. In approving selections or in appointing members to the board, the commissioner shall consider, among other things, whether all member insurers are fairly represented.   (2) Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board of directors, but members of the board may not otherwise be compensated by the association for their services. However, any designated representatives of members of the board who are not full-time employees of the member insurers that designated them may receive reasonable compensation for their services on the board of directors upon annual approval by the members of the association.   History: En. 40-5807 by Sec. 7, Ch. 245, L. 1974; R.C.M. 1947, 40-5807(part); amd. Sec. 3, Ch. 576, L. 1987; amd. Sec. 2, Ch. 65, L. 1995.
MT Code § 33-10-206 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 10. Insurance Guaranty Associations|Part 2. Life and Health Insurance Guaranty Associations|33-10-206. Records of meetings and negotiations

  33-10-206. Records of meetings and negotiations. Records must be kept of all negotiations and meetings of the board of directors held to discuss the activities of the association in carrying out its powers and duties under this part. Records of negotiations or meetings pertaining to an impaired or insolvent insurer may be made public only upon the termination of a liquidation, rehabilitation, or supervision proceeding involving the impaired or insolvent insurer, upon the termination of the impairment or insolvency of the insurer, or upon the order of a court of competent jurisdiction. This section does not limit the duty of the association to render a report of its activities under 33-10-209.   History: En. 40-5814 by Sec. 14, Ch. 245, L. 1974; R.C.M. 1947, 40-5814(2); amd. Sec. 140, Ch. 575, L. 1981; amd. Sec. 7, Ch. 195, L. 2003.
MT Code § 33-10-207 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 10. Insurance Guaranty Associations|Part 2. Life and Health Insurance Guaranty Associations|33-10-207. Immunity

  33-10-207. Immunity. There is not any liability on the part of and a cause of action of any nature may not be brought against any member insurer or its agents or employees, the association or the association's agents or employees, members of the board of directors, or the commissioner or the commissioner's representatives for any action taken by them in the performance of their powers and duties under this part.   History: En. 40-5818 by Sec. 18, Ch. 245, L. 1974; R.C.M. 1947, 40-5818; amd. Sec. 1, Ch. 713, L. 1989; amd. Sec. 8, Ch. 195, L. 2003; amd. Sec. 18, Ch. 380, L. 2003.
MT Code § 33-10-208 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 10. Insurance Guaranty Associations|Part 2. Life and Health Insurance Guaranty Associations|33-10-208. Tax exemptions

  33-10-208. Tax exemptions. The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions except taxes levied on real property.   History: En. 40-5816 by Sec. 16, Ch. 245, L. 1974; R.C.M. 1947, 40-5816.
MT Code § 33-10-209 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 10. Insurance Guaranty Associations|Part 2. Life and Health Insurance Guaranty Associations|33-10-209. Examination of the association -- annual report

  33-10-209. Examination of the association -- annual report. The association shall be subject to examination and regulation by the commissioner. The board of directors shall submit to the commissioner, not later than May 1 of each year, a financial report for the preceding calendar year in a form approved by the commissioner and a report of its activities during the preceding calendar year.   History: En. 40-5815 by Sec. 15, Ch. 245, L. 1974; R.C.M. 1947, 40-5815.