reglab/housing_qa huggingface dataset:
MT Code § 33-20-1315 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 13. Viatical Settlements|33-20-1315. Rules -- standards -- bond

  33-20-1315. Rules -- standards -- bond. The commissioner may, in accordance with the provisions of 33-1-313, adopt rules for the purpose of carrying out this part. In addition, the commissioner:   (1) may establish standards for evaluating reasonableness of payments under viatical settlement contracts for insured individuals who are terminally ill or chronically ill. The authority includes but is not limited to regulation of discount rates used to determine the amount paid in exchange for assignment, transfer, sale, devise, or bequest of a benefit under a life insurance policy. For the purpose of the standards, the commissioner shall consider payments made in regional and national viatical settlement markets to the extent that this information is available, as well as model standards developed by the national association of insurance commissioners. When the insured is not terminally ill or chronically ill, the commissioner may not establish standards for evaluating the reasonableness of payments, except that a viatical settlement provider shall pay an amount greater than the greater of the cash surrender value or the accelerated death benefit then available.   (2) shall require a bond or other mechanism for financial accountability of viatical settlement providers and viatical settlement brokers; and   (3) shall adopt rules to establish:   (a) trade practice standards for the purpose of regulating advertising and solicitation of viatical settlement contracts;   (b) fees that are commensurate with fees charged pursuant to 33-2-708; and   (c) the continuing education program provided for in 33-20-1303(5).   History: En. Sec. 15, Ch. 298, L. 1997; amd. Sec. 8, Ch. 493, L. 2003; amd. Sec. 4, Ch. 552, L. 2005; amd. Sec. 37, Ch. 44, L. 2007; amd. Sec. 12, Ch. 399, L. 2007.
MT Code § 33-20-1316 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 13. Viatical Settlements|33-20-1316. Service of process

  33-20-1316. Service of process. (1) For viatical settlement providers, the provisions of Title 33, chapter 1, part 6, apply.   (2) For viatical settlement brokers, the provisions of 33-17-405 apply.   History: En. Sec. 6, Ch. 227, L. 2001.
MT Code § 33-20-1318 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 13. Viatical Settlements|33-20-1318. Conflict of laws

  33-20-1318. Conflict of laws. (1) If there is more than one owner on a single life insurance policy and the owners are residents of different states, the viatical settlement contract is governed by the law of the state in which the owner having the largest percentage ownership resides or, if the owners hold equal ownership, the state of residence of one owner agreed upon in writing by all of the owners. The law of the state of the insured governs if equal owners fail to agree in writing upon a state of residence for jurisdictional purposes.   (2) (a) A viatical settlement provider from this state who enters into a viatical settlement contract with a viator who is a resident of another state that has enacted statutes or adopted regulations governing viatical settlement contracts is governed in the effectuation of that viatical settlement contract by the statutes and regulations of the viator's state of residence.   (b) A viatical settlement provider from this state who enters into a viatical settlement contract with a viator who is a resident of another state that has not enacted statutes or adopted regulations governing viatical settlement contracts is governed in the effectuation of that viatical settlement contract by the laws of this state. The viatical settlement provider shall give the viator notice that this state regulates the transaction into which the viator is entering. The viatical settlement provider shall maintain all records required by this state and use forms approved in this state.   (3) If there is a conflict in the laws that apply to a viator and a viatical settlement purchaser in any individual transaction, the laws of the state that apply to the viator take precedence and the viatical settlement provider shall comply with those laws.   History: En. Sec. 7, Ch. 272, L. 2009.
MT Code § 33-20-1401 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 14. Structured Settlement Protection|33-20-1401. Short title

  33-20-1401. Short title. This part may be cited as the "Structured Settlement Protection Act".   History: En. Sec. 1, Ch. 351, L. 2005.
MT Code § 33-20-1403 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 14. Structured Settlement Protection|33-20-1403. Disclosure to payee

  33-20-1403. Disclosure to payee. No less than 3 days prior to the date on which a payee signs a transfer agreement, the transferee shall provide to the payee a written disclosure statement separate from the transfer agreement that sets forth in bold type no smaller than 14 points:   (1) the amounts and the due dates of the structured settlement payment to be transferred;   (2) the aggregate amount of the amounts in subsection (1);   (3) the discounted present value of the payments to be transferred, which must be identified as:   (a) the calculation of the present value of the transferred structured settlement payment under federal standards for valuing annuities; and   (b) the amount of the applicable federal rate used in calculating the discounted present value;   (4) the gross advance amount;   (5) an itemized list of all applicable transfer expenses, other than attorney fees and related disbursements, based on the transferee's best estimate of the amount of fees and disbursements payable in connection with the transferee's application for approval of the transfer;   (6) the net advance amount;   (7) the amount of any penalty or liquidated damages payable by the payee in the event of a breach of the transfer agreement by the payee; and   (8) a statement that the payee has the right to cancel the transfer agreement without penalty or further obligation no later than the third business day after the date on which the payee signs the agreement.   History: En. Sec. 3, Ch. 351, L. 2005.
MT Code § 33-20-1404 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 14. Structured Settlement Protection|33-20-1404. Transfer of structured settlement payment right -- conditions

  33-20-1404. Transfer of structured settlement payment right -- conditions. A direct or indirect transfer of a structured settlement payment right is not effective and a structured settlement obligor or annuity issuer is not required to make a payment directly or indirectly to a transferee of a structured settlement payment right unless a final court order or order of a responsible administrative authority has approved the transfer in advance based on written findings by the court or responsible administrative authority that:   (1) the transfer is in the best interest of the payee, taking into account the welfare and support of the payee's dependents, if any;   (2) the payee has been advised in writing by the transferee to seek independent professional advice regarding the transfer and either has received independent professional advice or knowingly waived independent professional advice in writing; and   (3) the transfer does not contravene any applicable statute or the order of any court or other government authority.   History: En. Sec. 4, Ch. 351, L. 2005.
MT Code § 33-20-1405 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 14. Structured Settlement Protection|33-20-1405. Obligations after transfer

  33-20-1405. Obligations after transfer. After the transfer of a structured settlement payment right pursuant to this part:   (1) the structured settlement obligor and the annuity issuer are discharged and released from liability for the transferred payments to all parties except to the transferee;   (2) the transferee is liable to the structured settlement obligor and the annuity issuer:   (a) if the transfer contravenes the terms of the structured settlement for any tax incurred by the structured settlement obligor or annuity issuer as a consequence of the transfer; and   (b) for any other liability or cost, including reasonable costs and attorney fees, arising:   (i) from compliance by the structured settlement obligor and annuity issuer with the order of the court or responsible administrative authority; or   (ii) as a consequence of the transferee's failure to comply with this part; and   (3) neither the structured settlement obligor nor the annuity issuer may be required to divide a periodic payment between a payee and a transferee or assignee or between two or more transferees or assignees.   History: En. Sec. 5, Ch. 351, L. 2005.
MT Code § 33-20-1406 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 14. Structured Settlement Protection|33-20-1406. Additional transfers

  33-20-1406. Additional transfers. After the transfer of a structured settlement payment right pursuant to this part, any further transfer by the payee is subject to all of the requirements of this part.   History: En. Sec. 6, Ch. 351, L. 2005.
MT Code § 33-20-1407 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 14. Structured Settlement Protection|33-20-1407. Jurisdiction -- notice

  33-20-1407. Jurisdiction -- notice. (1) A transferee may apply under this part for approval of a transfer of a structured settlement payment right:   (a) in the county in which the payee resides;   (b) in the county in which the structured settlement obligor or the annuity issuer maintains a principal place of business; or   (c) in any court or before any responsible administrative authority that approved the structured settlement agreement.   (2) Not less than 20 days prior to a scheduled hearing on an application for approval of a transfer of a structured settlement payment right under 33-20-1404, the transferee shall file with the court or responsible administrative authority and serve on all interested parties a notice of the proposed transfer and the application for an authorized transfer. The notice must include the following:   (a) a copy of the transferee's application;   (b) a copy of the transfer agreement;   (c) a copy of the disclosure statement required under 33-20-1403;   (d) a listing of each of the payee's dependents, if any, together with the age of each dependent;   (e) notification that any interested party is entitled to support, oppose, or otherwise respond to the transferee's application either in person or by counsel by submitting written comments to the court or responsible administrative authority or by participating in the hearing; and   (f) notification of the time and the place of the hearing and notification of the manner in which and the time by which written responses to the application must be filed. The filing deadline may not be less than 15 days after the transferee's notice has been served.   History: En. Sec. 7, Ch. 351, L. 2005.
MT Code § 33-20-1408 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 14. Structured Settlement Protection|33-20-1408. Waiver not allowed

  33-20-1408. Waiver not allowed. A payee may not waive the provisions of this part.   History: En. Sec. 8, Ch. 351, L. 2005.
MT Code § 33-20-1409 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 14. Structured Settlement Protection|33-20-1409. Disputes -- entry of judgment

  33-20-1409. Disputes -- entry of judgment. (1) A transfer agreement entered into on or after October 1, 2005, by a payee who resides in this state must provide that disputes under the transfer agreement, including a claim that the payee has breached the agreement, must be determined in this state under the laws of this state.   (2) A transfer agreement may not authorize the transferee or any other party to confess judgment or consent to entry of judgment against the payee.   History: En. Sec. 9, Ch. 351, L. 2005.
MT Code § 33-20-1410 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 14. Structured Settlement Protection|33-20-1410. Contingent payment conditions

  33-20-1410. Contingent payment conditions. A transfer of a structured settlement payment right may not extend to a payment that is contingent upon the life of a payee unless prior to the date on which the payee signs the transfer agreement the transferee has established and agreed to maintain procedures reasonably satisfactory to the annuity issuer and the structured settlement obligor for:   (1) periodically confirming the payee's survival; and   (2) giving the annuity issuer and the structured settlement obligor prompt written notice upon the payee's death.   History: En. Sec. 10, Ch. 351, L. 2005.
MT Code § 33-20-1411 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 14. Structured Settlement Protection|33-20-1411. Responsibility for compliance -- liability

  33-20-1411. Responsibility for compliance -- liability. (1) Compliance with the requirements in 33-20-1403 and fulfillment of the conditions in 33-20-1404 are the sole responsibility of the transferee in any transfer of a structured settlement payment right. Neither the structured settlement obligor nor the annuity issuer bears responsibility for or liability arising from noncompliance with 33-20-1403 or failure to fulfill the conditions of 33-20-1404.   (2) A payee who proposes to make a transfer of a structured settlement payment right may not incur a penalty, forfeit an application fee or other payment, or otherwise incur any liability to the proposed transferee or any assignee based on a failure of a transfer agreement to satisfy the conditions of this part.   History: En. Sec. 11, Ch. 351, L. 2005.
MT Code § 33-20-1412 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 14. Structured Settlement Protection|33-20-1412. Construction

  33-20-1412. Construction. This part may not be construed to authorize a transfer of a structured settlement payment right in contravention of any law or to imply that any transfer under a transfer agreement entered into prior to October 1, 2005, is valid or invalid.   History: En. Sec. 12, Ch. 351, L. 2005.
MT Code § 33-20-1502 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 15. Funeral Insurance|33-20-1502. Excess funeral insurance proceeds

  33-20-1502. Excess funeral insurance proceeds. Funeral insurance proceeds that exceed the cost of the funeral goods and services provided must be paid in accordance with the beneficiary designation in the insurance policy or certificate.   History: En. Sec. 2, Ch. 507, L. 2007.
MT Code § 33-20-1503 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 15. Funeral Insurance|33-20-1503. Rules

  33-20-1503. Rules. The commissioner may adopt rules to regulate funeral insurance, including but not limited to rules regarding licensure of producers, form review, and consumer protection.   History: En. Sec. 3, Ch. 507, L. 2007.
MT Code § 33-20-1601 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 16. Unclaimed Life Insurance Benefits Act|33-20-1601. Short title

  33-20-1601. Short title. This part may be cited as the "Unclaimed Life Insurance Benefits Act".   History: En. Sec. 1, Ch. 119, L. 2013.
MT Code § 33-20-1602 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 16. Unclaimed Life Insurance Benefits Act|33-20-1602. Purpose

  33-20-1602. Purpose. The purposes of this part are to require recognition of the escheat or unclaimed property statutes of Montana and to require complete and proper disclosure, transparency, and accountability relating to any method of payment for life insurance death benefits regulated by the commissioner.   History: En. Sec. 2, Ch. 119, L. 2013.
MT Code § 33-20-1603 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 16. Unclaimed Life Insurance Benefits Act|33-20-1603. Application of part

  33-20-1603. Application of part. (1) This part applies to life insurance policies, annuity contracts, certificates under a life insurance policy or annuity contract, or certificates issued to a fraternal benefit society under which benefits are payable upon the death of the insured.   (2) This part may not be construed to limit any agreement by the commissioner with an insurer regarding unclaimed life insurance benefits.   (3) For the purposes of this part, the term "annuity contract" does not include an annuity used to fund an employment-based retirement plan or program when the insurer is not committed by terms of the annuity contract to pay death benefits to the beneficiaries of specific plan participants.   History: En. Sec. 3, Ch. 119, L. 2013; amd. Sec. 16, Ch. 63, L. 2015.
MT Code § 33-20-1604 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 16. Unclaimed Life Insurance Benefits Act|33-20-1604. Definitions

  33-20-1604. Definitions. As used in this part, the following definitions apply:   (1) (a) "Certificate under a life insurance policy" means a certificate of life insurance that provides a death benefit.   (b) The term does not include a certificate of life insurance that provides a death benefit under:   (i) an employee benefit plan that is subject to the Employee Retirement Income Security Act of 1974, 29 U.S.C. 1001, et seq.;   (ii) any federal employee benefit program;   (iii) a policy or certificate used to fund a preneed funeral contract or prearrangement; or   (iv) a policy or certificate of credit life insurance or accidental death insurance.   (2) "Death master file" means the social security administration's death master file or any other database or service at least as comprehensive as the social security administration's death master file used for determining that a person has reportedly died.   (3) "Match" means a search of the death master file that results in a match of the social security number or the name and date of birth of an insured, annuitant, or retained asset account owner.   (4) "Policy" means a policy that provides a death benefit. The term does not include a policy that provides a death benefit under:   (a) an employee benefit plan that is subject to the Employee Retirement Income Security Act of 1974, 29 U.S.C. 1001, et seq.;   (b) any federal employee benefit program;   (c) a policy or certificate of insurance used to fund a preneed funeral contract or prearrangement;   (d) a policy or certificate of credit life insurance or accidental death insurance; or   (e) a policy issued to a group master policyholder for which the insurer does not provide recordkeeping services.   History: En. Sec. 4, Ch. 119, L. 2013.
MT Code § 33-20-1605 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 16. Unclaimed Life Insurance Benefits Act|33-20-1605. Insurer conduct

  33-20-1605. Insurer conduct. (1) An insurer shall perform a comparison of life insurance policies, annuity contracts, and retained asset accounts that are in force for its insureds against a death master file on at least a semiannual basis to identify potential matches of its insureds. For any potential matches, the insurer shall within 90 days:   (a) make a reasonable effort, documented by the insurer, to confirm the death of the insured, annuity contract holder, or retained asset account holder; and   (b) determine whether benefits are due in accordance with the applicable policy or contract.   (2) If benefits are due in accordance with the applicable policy or contract, the insurer shall:   (a) use reasonable efforts, documented by the insurer, to locate the beneficiary; and   (b) provide the appropriate claims forms or instructions to the beneficiary to make a claim, including the requirement to provide an official death certificate, if applicable under the policy or contract.   (3) With respect to group life insurance, an insurer is required to confirm the possible death of an insured when the insurer maintains at least the following information with regard to those covered under a policy or contract:   (a) social security number or name and date of birth;   (b) beneficiary designation information;   (c) coverage eligibility;   (d) benefit amount; and   (e) premium payment status.   (4) To the extent permitted by law, an insurer may disclose minimum necessary personal information about an insured or beneficiary to a person the insurer reasonably believes may be able to assist the insurer in locating the beneficiary or a person otherwise entitled to payment of claim proceeds.   (5) An insurer or its service provider may not charge insureds, account holders, or beneficiaries for any fees or costs associated with a search or verification conducted pursuant to this section.   (6) The benefits from a life insurance policy, an annuity contract, or a retained asset account, plus any applicable accrued interest, must be first payable to the designated beneficiary. In the event the beneficiary cannot be found, the benefits escheat to the state as unclaimed property pursuant to Title 70, chapter 9, part 8.   (7) If claim proceeds are presumed abandoned pursuant to 70-9-803, the insurer shall notify the department of revenue that:   (a) the beneficiary of a life insurance policy, annuity contract, or retained asset account has not submitted a claim with the insurer; and   (b) the insurer has been unable, after reasonable efforts documented by the insurer, to contact the beneficiary.   (8) In addition to giving notice to the department of revenue, the insurer shall immediately submit the unclaimed life insurance or annuity contract benefits or the unclaimed retained asset accounts, plus any applicable accrued interest, to the department of revenue.   History: En. Sec. 5, Ch. 119, L. 2013.
MT Code § 33-20-1606 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 16. Unclaimed Life Insurance Benefits Act|33-20-1606. Unfair trade practices

  33-20-1606. Unfair trade practices. A violation of the provisions of 33-20-1605 by an insurer constitutes an unfair method of competition or a deceptive act or practice in the business of insurance as provided in Title 33, chapter 18, part 2.   History: En. Sec. 6, Ch. 119, L. 2013.
MT Code § 33-21-101 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 21. Credit Life and Disability Insurance|Part 1. General Provisions|33-21-101. Short title

  33-21-101. Short title. This chapter may be cited as "The Model Act for the Regulation of Credit Life Insurance and Credit Disability Insurance".   History: En. Sec. 393, Ch. 286, L. 1959; R.C.M. 1947, 40-4202.