reglab/housing_qa huggingface dataset:
MT Code § 33-2-1131 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 11. Affiliation and Merger -- Holding Company Systems -- Own Risk and Solvency Assessment|33-2-1131. Purpose

  33-2-1131. Purpose. The purpose of sections 33-2-1130 through 33-2-1138 is to provide:   (1) requirements for maintaining a risk management framework and completing an own risk and solvency assessment; and   (2) guidance and instructions for filing an ORSA summary report with the commissioner.   History: En. Sec. 2, Ch. 370, L. 2015.
MT Code § 33-2-1132 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 11. Affiliation and Merger -- Holding Company Systems -- Own Risk and Solvency Assessment|33-2-1132. Definitions

  33-2-1132. Definitions. For the purposes of 33-2-1130 through 33-2-1138, the following definitions apply:   (1) "Insurance group" means those insurers and affiliates included within an insurance holding company system as defined in 33-2-1101.   (2) "NAIC" means the national association of insurance commissioners.   (3) "ORSA guidance manual" means the current version of the own risk and solvency assessment guidance manual developed and adopted by the NAIC as of April 30, 2015, or as subsequently adopted by rule by the commissioner. A change to the ORSA guidance manual is effective on January 1 following the calendar year in which the commissioner adopts the changed manual by rule.   (4) "ORSA summary report" means a confidential, high-level summary of an insurer's or insurance group's ORSA.   (5) "Own risk and solvency assessment" or "ORSA" means a confidential, internal assessment, appropriate to the nature, scale, and complexity of an insurer or insurance group, conducted by an insurer or insurance group, of the material and relevant risks associated with the insurer or the insurance group's current business plan and of the sufficiency of the insurer's or insurance group's capital resources to support those risks.   (6) "Risk management framework" means a study of the elements used to assist an insurer or insurance group to identify, assess, monitor, manage, and report on material and relevant risk of the insurer or the insurance group.   History: En. Sec. 3, Ch. 370, L. 2015.
MT Code § 33-2-1133 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 11. Affiliation and Merger -- Holding Company Systems -- Own Risk and Solvency Assessment|33-2-1133. Risk management framework required

  33-2-1133. Risk management framework required. All Montana insurers and insurance groups shall maintain a risk management framework. This requirement is satisfied if the insurance group of which the insurer is a member maintains a risk management framework applicable to the operations of the insurer.   History: En. Sec. 4, Ch. 370, L. 2015.
MT Code § 33-2-1134 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 11. Affiliation and Merger -- Holding Company Systems -- Own Risk and Solvency Assessment|33-2-1134. Own risk and solvency assessment required

  33-2-1134. Own risk and solvency assessment required. Subject to the exemptions in 33-2-1136, an insurer or an insurance group of which the insurer is a member shall conduct an own risk and solvency assessment consistent with a process comparable to the ORSA guidance manual. The own risk and solvency assessment must be conducted no less than annually and at any time when there are significant changes to the risk profile of the insurer or the insurance group of which the insurer is a member.   History: En. Sec. 5, Ch. 370, L. 2015.
MT Code § 33-2-1135 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 11. Affiliation and Merger -- Holding Company Systems -- Own Risk and Solvency Assessment|33-2-1135. ORSA summary report

  33-2-1135. ORSA summary report. (1) No more than once a year, the commissioner may request and an insurer or its insurance group shall provide to the commissioner, as provided in subsection (2), an ORSA summary report or any combination of reports that together contain the information described in the ORSA guidance manual as applicable to the insurer and the insurance group of which the insurer is a member.   (2) (a) If the insurer is a member of an insurance group, the insurer shall submit any report required under this section to the commissioner when the commissioner is the lead state regulator for that insurance group.   (b) If the insurer is not a member of an insurance group, the insurer shall submit any report required under this section to the commissioner.   (c) An insurer that is a member of an insurance group may voluntarily submit the report to a requesting insurance regulator who is not the lead state regulator for the insurer's insurance group.   (3) (a) The report must be prepared consistent with the ORSA guidance manual and subsection (3)(b). Documentation and supporting information must be maintained and made available for an examination on request of the commissioner.   (b) The review of the ORSA summary report and any additional requests for information must be made using similar procedures currently used in the analysis and examination of multistate or global insurers and insurance groups.   (4) (a) The report must include the signature of the chief risk officer of the insurer or insurance group or of another executive charged with overseeing the enterprise risk management process for the insurer or the insurance group.   (b) The signature of the chief risk officer or other executive charged with overseeing the enterprise risk management is an attestation that to the best of the officer's or executive's knowledge the insurer or insurance group applies the enterprise risk management process described in the ORSA summary report and that a copy of the report has been provided to the board of directors of the insurer or the insurance group or to the appropriate committee of the board of directors.   (5) An insurer may comply with this section by providing the most recent and substantially similar report provided by the insurer or another member of an insurance group of which the insurer is a member to the insurance regulator of another state or to a supervisor or regulator of a foreign jurisdiction, if that report provides information that is comparable to the information described in the ORSA guidance manual. A report in a language other than English must be accompanied by a translation of the report into English.   History: En. Sec. 6, Ch. 370, L. 2015.
MT Code § 33-2-1138 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 11. Affiliation and Merger -- Holding Company Systems -- Own Risk and Solvency Assessment|33-2-1138. Penalty

  33-2-1138. Penalty. (1) Any insurer failing to timely file the ORSA summary report shall be fined no more than $500 for each day's delay, up to a maximum penalty of $25,000.   (2) The commissioner shall collect the fine and deposit the money in the state general fund.   History: En. Sec. 9, Ch. 370, L. 2015.
MT Code § 33-2-1139 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 11. Affiliation and Merger -- Holding Company Systems -- Own Risk and Solvency Assessment|33-2-1139. reserved

  33-2-1139 reserved.
MT Code § 33-2-1201 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 12. Limit of Risk -- Reinsurance|33-2-1201. Limit of risk

  33-2-1201. Limit of risk. (1) An insurer may not retain any risk on any one subject of insurance, whether located or to be performed in this state or elsewhere, in an amount exceeding 10% of its surplus to policyholders.   (2) A "subject of insurance" for the purposes of this section, as to insurance against fire and hazards other than windstorm, earthquake, or other catastrophe hazards, includes all properties insured by the same insurer which are customarily considered by underwriters to be subject to loss or damage from the same fire or the same occurrence of the other hazard insured against.   (3) Reinsurance ceded as authorized by this part must be deducted in determining risk retained. As to surety risks, deduction must also be made of the amount assumed by any established incorporated cosurety and the value of any security deposited, pledged, or held subject to the surety's consent and for the surety's protection.   (4) As to alien insurers, this section only relates to risks and surplus to policyholders of the insurer's United States branch.   (5) "Surplus to policyholders" for the purposes of this section, in addition to the insurer's capital and surplus, is considered to include any voluntary reserves which are not required pursuant to law and are determined from the last sworn statement of the insurer on file with the commissioner or by the last report of examination of the insurer, whichever is the more recent at time of assumption of risk.   (6) This section does not apply to life or disability insurance, title insurance, insurance of wet marine and transportation risks, workers' compensation insurance, employer's liability coverages, or any policy or type of coverage as to which the maximum possible loss to the insurer is not readily ascertainable on issuance of the policy.   History: En. Sec. 80, Ch. 286, L. 1959; R.C.M. 1947, 40-2909; amd. Sec. 49, Ch. 596, L. 1993; amd. Sec. 27, Ch. 379, L. 1995.
MT Code § 33-2-1202 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 12. Limit of Risk -- Reinsurance|33-2-1202. through 33-2-1204 reserved

  33-2-1202 through 33-2-1204 reserved.
MT Code § 33-2-1205 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 12. Limit of Risk -- Reinsurance|33-2-1205. Repealed

  33-2-1205. Repealed. Sec. 71, Ch. 596, L. 1993.   History: En. Sec. 81, Ch. 286, L. 1959; R.C.M. 1947, 40-2910; amd. Sec. 8, Ch. 620, L. 1989.
MT Code § 33-2-1206 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 12. Limit of Risk -- Reinsurance|33-2-1206. Bulk reinsurance -- foreign or alien insurers

  33-2-1206. Bulk reinsurance -- foreign or alien insurers. (1) A foreign or alien insurer may reinsure all or substantially all of its insurance in force in Montana or a major class of insurance with an agreement of bulk reinsurance, but the agreement may not become effective unless filed with the commissioner and approved by the commissioner in writing. The commissioner may hold a hearing before approving or disapproving an agreement of bulk reinsurance. Factors to be considered on bulk reinsurance agreements include but are not limited to:   (a) whether the agreement would be inequitable to Montana policyholders;   (b) whether the agreement would substantially reduce security of Montana policyholders; and   (c) whether the agreement would substantially reduce the service to be rendered to Montana policyholders.   (2) The commissioner shall approve or disapprove the agreement within a reasonable time after filing the proposed agreement or, when applicable, after a hearing.   (3) The commissioner may require a foreign or alien insurer to establish a trust account in this state, not to exceed the aggregate reserves of the policies contained in the bulk reinsurance agreement, prior to granting approval.   History: En. 40-2911 by Sec. 1, Ch. 303, L. 1977; R.C.M. 1947, 40-2911; amd. Sec. 4, Ch. 518, L. 1983; amd. Sec. 1095, Ch. 56, L. 2009.
MT Code § 33-2-1207 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 12. Limit of Risk -- Reinsurance|33-2-1207. Interest in reinsurance

  33-2-1207. Interest in reinsurance. The original insured has no interest in a contract of reinsurance.   History: En. Sec. 280, Ch. 286, L. 1959; R.C.M. 1947, 40-3723.
MT Code § 33-2-1208 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 12. Limit of Risk -- Reinsurance|33-2-1208. through 33-2-1210 reserved

  33-2-1208 through 33-2-1210 reserved.
MT Code § 33-2-1211 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 12. Limit of Risk -- Reinsurance|33-2-1211. Bulk reinsurance -- stock insurers

  33-2-1211. Bulk reinsurance -- stock insurers. (1) A domestic stock insurer may reinsure all or substantially all of its insurance in force or a major class of insurance with another insurer by an agreement of bulk reinsurance, but the agreement may not become effective unless filed with the commissioner and approved by the commissioner in writing after a hearing on the agreement.   (2) The commissioner shall approve an agreement within a reasonable time after filing unless the commissioner finds that it is inequitable to the stockholders of the domestic insurer or would substantially reduce the protection or service to its policyholders. If the commissioner does not approve the agreement, the commissioner shall notify the insurer in writing specifying the reasons for disapproval.   History: En. Sec. 464, Ch. 286, L. 1959; R.C.M. 1947, 40-4747; amd. Sec. 1096, Ch. 56, L. 2009.
MT Code § 33-2-1212 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 12. Limit of Risk -- Reinsurance|33-2-1212. Bulk reinsurance -- mutual insurers

  33-2-1212. Bulk reinsurance -- mutual insurers. (1) A domestic mutual insurer may reinsure all or substantially all its business in force, or all or substantially all of a major class of its business, with another insurer, stock or mutual, by an agreement of bulk reinsurance after compliance with this section. An agreement may not become effective unless filed with the commissioner and approved by the commissioner in writing after a hearing on the agreement.   (2) The commissioner shall approve an agreement within a reasonable time after filing if the commissioner finds it to be fair and equitable to each domestic insurer involved and that the reinsurance if effectuated would not substantially reduce the protection or service to its policyholders. If the commissioner does not approve the agreement, the commissioner shall notify each insurer involved in writing specifying the reasons for disapproval.   (3) The plan and agreement for reinsurance must be approved by vote of not less than two-thirds of each domestic mutual insurer's members voting on the plan and agreement at meetings of members called for the purpose, pursuant to reasonable notice and procedure that the commissioner may approve. If the insurer is a life insurer, the right to vote may be limited to members whose policies are other than term or group policies and have been in effect for more than 1 year.   (4) If the agreement is for reinsurance of a mutual insurer in a stock insurer, the agreement must provide for payment in cash to each member of the insurer entitled to a payment upon conversion of the insurer, pursuant to 33-3-216, of the member's equity in the business reinsured as determined under a fair formula approved by the commissioner. The equity must be based upon the member's equity in the reserves, assets, whether or not "admitted" assets, and surplus, if any, of the mutual insurer to be taken over by the stock insurer.   History: En. Sec. 465, Ch. 286, L. 1959; R.C.M. 1947, 40-4748; amd. Sec. 1097, Ch. 56, L. 2009.
MT Code § 33-2-1213 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 12. Limit of Risk -- Reinsurance|33-2-1213. through 33-2-1215 reserved

  33-2-1213 through 33-2-1215 reserved.
MT Code § 33-2-1218 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 12. Limit of Risk -- Reinsurance|33-2-1218. Reinsurance agreements affected

  33-2-1218. Reinsurance agreements affected. Sections 33-2-1216 and 33-2-1217 apply to all cessions after October 1, 1993, under reinsurance agreements that have had an inception, anniversary, or renewal date on or after April 1, 1993.   History: En. Sec. 30, Ch. 596, L. 1993; amd. Sec. 30, Ch. 379, L. 1995.
MT Code § 33-2-1301 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 13. Supervision, Rehabilitation, and Liquidation|33-2-1301. Short title

  33-2-1301. Short title. This part shall be cited as the "Insurers Supervision, Rehabilitation, and Liquidation Act".   History: En. Sec. 1, Ch. 383, L. 1979.
MT Code § 33-2-1302 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 13. Supervision, Rehabilitation, and Liquidation|33-2-1302. Construction and purpose

  33-2-1302. Construction and purpose. (1) This part may not be interpreted to limit the powers granted the commissioner by other provisions of the law.   (2) This part shall be liberally construed to effect the purpose stated in subsection (3).   (3) The purpose of this part is the protection of the interests of insureds, claimants, creditors, and the public generally, with minimum interference with the normal prerogatives of the owners and managers of insurers, through:   (a) early detection of any potentially dangerous condition in an insurer and prompt application of appropriate corrective measures;   (b) improved methods for rehabilitating insurers, involving the cooperation and management expertise of the insurance industry;   (c) enhanced efficiency and economy of liquidation, through clarification of the law, to minimize legal uncertainty and litigation;   (d) equitable apportionment of any unavoidable loss;   (e) lessening the problems of interstate rehabilitation and liquidation by facilitating cooperation between states in the liquidation process and by extending the scope of personal jurisdiction over debtors of the insurer outside this state; and   (f) regulation of the insurance business by the impact of the law relating to delinquency procedures and substantive rules on the entire insurance business.   History: En. Sec. 1, Ch. 383, L. 1979.
MT Code § 33-2-1304 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 13. Supervision, Rehabilitation, and Liquidation|33-2-1304. To whom proceedings may be applied

  33-2-1304. To whom proceedings may be applied. The proceedings authorized by this part may be applied to:   (1) all insurers who are doing or have done insurance business in this state and against whom claims arising from that business may exist now or in the future;   (2) all insurers who purport to do an insurance business in this state;   (3) all insurers who have insureds resident in this state;   (4) all other persons organized or in the process of organizing with the intent to do an insurance business in this state;   (5) all nonprofit service plans, fraternal benefit societies and beneficial societies, health service corporations, and health maintenance organizations; and   (6) all title insurance companies.   History: En. Sec. 3, Ch. 383, L. 1979; amd. Sec. 9, Ch. 151, L. 2017.
MT Code § 33-2-1305 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 13. Supervision, Rehabilitation, and Liquidation|33-2-1305. Who may bring action -- procedure exclusive

  33-2-1305. Who may bring action -- procedure exclusive. (1) No delinquency proceeding may be commenced under this part by anyone other than the commissioner, and no court shall have jurisdiction to entertain, hear, or determine any proceeding commenced by any other person.   (2) No court of this state has jurisdiction to entertain, hear, or determine any complaint praying for the dissolution, liquidation, rehabilitation, sequestration, conservation, or receivership of any insurer or praying for an injunction or restraining order or other relief preliminary to, incidental to, or relating to such proceedings other than in accordance with this part.   History: En. Sec. 4, Ch. 383, L. 1979.
MT Code § 33-2-1306 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 13. Supervision, Rehabilitation, and Liquidation|33-2-1306. Personal jurisdiction

  33-2-1306. Personal jurisdiction. In addition to other grounds for jurisdiction provided by the law of this state, a court of this state having jurisdiction of the subject matter has jurisdiction over a person served pursuant to the Montana Rules of Civil Procedure or other applicable provisions of law in an action brought by the receiver of a domestic insurer or an alien insurer domiciled in this state:   (1) if the person served is obligated to the insurer in any way as an incident to any agency or brokerage arrangement that may exist or has existed between the insurer and the insurance producer or broker in any action on or incident to the obligation;   (2) if the person served is a reinsurer who has at any time written a policy of reinsurance for an insurer against which a rehabilitation or liquidation order is in effect when the action is commenced or is an insurance producer or broker of or for the reinsurer in any action on or incident to the reinsurance contract; or   (3) if the person served is or has been an officer, manager, trustee, organizer, promoter, or person in a position of comparable authority or influence in an insurer against which a rehabilitation or liquidation order is in effect when the action is commenced in any action resulting from such a relationship with the insurer.   History: En. Sec. 4, Ch. 383, L. 1979; amd. Sec. 1, Ch. 713, L. 1989.
MT Code § 33-2-1307 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 13. Supervision, Rehabilitation, and Liquidation|33-2-1307. Stay pending out-of-state proceedings

  33-2-1307. Stay pending out-of-state proceedings. If the court on motion of any party finds that any action should as a matter of substantial justice be tried in a forum outside this state, the court may enter an appropriate order to stay further proceedings on the action in this state.   History: En. Sec. 4, Ch. 383, L. 1979.
MT Code § 33-2-1308 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 2. Regulation of Insurance Companies|Part 13. Supervision, Rehabilitation, and Liquidation|33-2-1308. Venue

  33-2-1308. Venue. All actions herein authorized shall be brought in the district court in the county in which the office of the commissioner is located.   History: En. Sec. 4, Ch. 383, L. 1979.