reglab/housing_qa huggingface dataset:
MT Code § 33-20-1205 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 12. Group Contract Provisions|33-20-1205. Insurability

  33-20-1205. Insurability. The group life insurance policy and certificate must contain a provision setting forth the conditions, if any, under which the insurer reserves the right to require a person eligible for insurance to furnish evidence of individual insurability satisfactory to the insurer as a condition to part or all of the person's coverage.   History: En. Sec. 341, Ch. 286, L. 1959; R.C.M. 1947, 40-3914; amd. Sec. 31, Ch. 380, L. 2003.
MT Code § 33-20-1206 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 12. Group Contract Provisions|33-20-1206. Misstatement of age

  33-20-1206. Misstatement of age. The group life insurance policy and certificate must contain a provision specifying an equitable adjustment of premiums or of benefits or of both to be made in the event the age of a person insured has been misstated. The provision must contain a clear statement of the method of adjustment to be used.   History: En. Sec. 342, Ch. 286, L. 1959; R.C.M. 1947, 40-3915; amd. Sec. 32, Ch. 380, L. 2003.
MT Code § 33-20-1207 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 12. Group Contract Provisions|33-20-1207. Payment of benefits

  33-20-1207. Payment of benefits. (1) The group life insurance policy and certificate must contain a provision that any benefits becoming due by reason of the death of the person insured are payable to the beneficiary designated by the person insured, subject to the provisions of the policy. In the event there is not a designated beneficiary with regard to all or some of the benefits, then those benefits must be considered a part of the intestate estate, pursuant to 72-2-111. In addition, the insurer may pay a benefit amount not exceeding $500 to any person appearing to the insurer to be equitably entitled to that amount by reason of having incurred funeral or other expenses incident to the last illness or death of the person insured.   (2) The provisions of 33-20-114(2) must be incorporated into the group life insurance policy and certificate and are applicable as set out in that subsection.   History: En. Sec. 343, Ch. 286, L. 1959; R.C.M. 1947, 40-3916; amd. Sec. 3, Ch. 469, L. 1985; amd. Sec. 33, Ch. 380, L. 2003.
MT Code § 33-20-1208 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 12. Group Contract Provisions|33-20-1208. Certificate

  33-20-1208. Certificate. The group life insurance policy must contain a provision that the insurer will issue to the policyholder for delivery to each person insured an individual certificate setting forth a statement as to the insurance protection to which the person is entitled, to whom the insurance benefits are payable, and the rights and conditions set forth in 33-20-1209 through 33-20-1211.   History: En. Sec. 344, Ch. 286, L. 1959; R.C.M. 1947, 40-3917; amd. Sec. 1215, Ch. 56, L. 2009.
MT Code § 33-20-1210 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 12. Group Contract Provisions|33-20-1210. Conversion on termination of policy or certificate

  33-20-1210. Conversion on termination of policy or certificate. (1) The group life insurance policy or certificate must contain a provision that if the group policy or certificate terminates or is amended to terminate the insurance of any class of insured persons, every person insured under the group policy or certificate at the date of the termination whose insurance terminates and who has been insured for at least 3 years prior to the termination date is entitled to have issued to the person by the insurer an individual policy of life insurance, subject to the same conditions and limitations that are provided by 33-20-1209, except that the group policy or certificate may provide that the amount of the individual policy may not exceed the smaller of:   (a) the amount of the person's life insurance protection ceasing because of the termination or amendment of the group policy or certificate, less the amount of any life insurance for which the person is or becomes eligible under any group policy issued or reinstated by the same or another insurer within 31 days after the termination; or   (b) $10,000.   (2) A group insurer may meet the requirements of this section by contracting with another insurer to issue conversion policies as described in subsection (1). The conversion carrier must be authorized to act as an insurer in this state and shall submit the conversion policies to the commissioner.   History: En. Sec. 346, Ch. 286, L. 1959; R.C.M. 1947, 40-3919; amd. Sec. 2, Ch. 579, L. 1981; amd. Sec. 9, Ch. 518, L. 1983; amd. Sec. 51, Ch. 227, L. 2001; amd. Sec. 35, Ch. 380, L. 2003.
MT Code § 33-20-1211 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 12. Group Contract Provisions|33-20-1211. Death pending conversion

  33-20-1211. Death pending conversion. The group life insurance policy or certificate must contain a provision that if a person insured under the policy or certificate dies during the period that the person would have been entitled to have an individual policy issued to the person in accordance with 33-20-1209 or 33-20-1210 and before an individual policy becomes effective, the amount of life insurance that the person would have been entitled to have issued to the person under an individual policy is payable as a claim under the group policy or certificate, whether or not application for the individual policy or the payment of the first premium has been made.   History: En. Sec. 347, Ch. 286, L. 1959; R.C.M. 1947, 40-3920; amd. Sec. 52, Ch. 227, L. 2001.
MT Code § 33-20-1212 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 12. Group Contract Provisions|33-20-1212. Notice as to conversion right

  33-20-1212. Notice as to conversion right. If an individual insured under a group life insurance policy or certificate delivered in this state becomes entitled under the terms of the policy or certificate to have an individual policy of life insurance issued to the individual without evidence of insurability, subject to making an application and payment of the first premium within the period specified in the policy and if an individual is not given notice of the existence of the right at least 15 days prior to the expiration date of the period, then the individual must have an additional period to exercise the right, but this section may not be construed to continue any insurance beyond the period provided in the policy. The additional period expires 15 days after the individual is given the notice, but an additional period may not extend beyond 60 days after the expiration date of the period provided in the policy. Written notice presented to the individual or mailed by the policyholder to the last-known address of the individual or mailed by the insurer to the last-known address of the individual as furnished by the policyholder constitutes notice for the purpose of this section.   History: En. Sec. 348, Ch. 286, L. 1959; R.C.M. 1947, 40-3921; amd. Sec. 53, Ch. 227, L. 2001.
MT Code § 33-20-1213 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 12. Group Contract Provisions|33-20-1213. Policy and certificate provisions -- conformity with state statutes

  33-20-1213. Policy and certificate provisions -- conformity with state statutes. Each policy and certificate regulated by this part must contain a provision or its equivalent as follows:   "Conformity with Montana statutes. The provisions of this policy or certificate conform to the minimum requirements of Montana law and control over any conflicting statutes of any state in which the insured resides on or after the effective date of this policy or certificate."   History: En. Sec. 22, Ch. 798, L. 1991; amd. Sec. 36, Ch. 380, L. 2003.
MT Code § 33-20-1301 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 13. Viatical Settlements|33-20-1301. Short title

  33-20-1301. Short title. This part may be cited as the "Viatical Settlement Act".   History: En. Sec. 1, Ch. 298, L. 1997.
MT Code § 33-20-1304 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 13. Viatical Settlements|33-20-1304. Issuance of license

  33-20-1304. Issuance of license. (1) The commissioner may issue a license to the applicant if the commissioner determines that the applicant:   (a) has satisfied all of the requirements for the license for which an application is made;   (b) has not engaged in conduct that would authorize the commissioner to refuse to issue a license under this part; and   (c) is financially responsible and has a good business reputation.   (2) The commissioner may issue a license to a nonresident applicant only if the nonresident applicant files with the commissioner in writing an appointment of the commissioner to be the agent of the applicant upon whom all legal process in any action or proceeding against the applicant may be served. In the appointment, the applicant shall agree that any lawful process against the applicant that is served upon the commissioner is of the same legal force and validity as if served upon the applicant and that the authority will continue in force as long as any liability remains outstanding in this state. An appointment under this subsection becomes effective on the date that the commissioner issues the license to the applicant.   (3) If the commissioner denies an application, the commissioner shall inform the applicant and state the grounds for the denial.   (4) An individual may act as a viatical settlement provider or viatical settlement broker under the authority of the license of a firm or of a corporate viatical settlement provider whether or not the individual holds a license as a viatical settlement provider if:   (a) the individual is a member or employee of the firm or is an employee, officer, or director of the corporation; and   (b) the individual is designated by the firm or corporation on its license application or on a form that amends or supplements the application as being authorized to act as a viatical settlement provider under the authority of the license.   History: En. Sec. 4, Ch. 298, L. 1997.
MT Code § 33-20-1305 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 13. Viatical Settlements|33-20-1305. Expiration of license

  33-20-1305. Expiration of license. (1) A license issued under this part expires on its expiration date unless it is renewed on or before its expiration date.   (2) Unless the commissioner designates another date, a license expires on the last day of the month in which the second anniversary of the initial issuance date of the license occurs and on the last day of the month of the second anniversary following each renewal.   History: En. Sec. 5, Ch. 298, L. 1997.
MT Code § 33-20-1306 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 13. Viatical Settlements|33-20-1306. Notification by licensee of material change affecting qualification for license

  33-20-1306. Notification by licensee of material change affecting qualification for license. A licensee shall immediately notify the commissioner of any material change in ownership or control or in any other matter affecting the qualification of the licensee for the license in this state, including keeping the commissioner informed about personnel and address changes.   History: En. Sec. 6, Ch. 298, L. 1997.
MT Code § 33-20-1308 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 13. Viatical Settlements|33-20-1308. Terms of contract

  33-20-1308. Terms of contract. (1) A viatical settlement contract must be in writing. A viatical settlement provider shall establish in the contract the terms under which the viatical settlement provider will pay compensation or anything of value in return for the policyholder's or certificate holder's assignment, transfer, sale, devise, or bequest of the death benefit or ownership of the insurance policy or certificate to the viatical settlement provider.   (2) A viatical settlement provider may not use a viatical settlement contract in this state unless the viatical settlement provider has filed the contract form with the commissioner and the commissioner has approved the contract form according to the provisions set forth in 33-1-501. The commissioner shall disapprove a viatical settlement contract form if, in the commissioner's judgment, the contract or any provision of the contract is unreasonable, contrary to the interests of the public, or otherwise misleading or unfair to the policyholder or certificate holder.   (3) Each viatical settlement contract entered into in this state must contain a provision enabling the policyholder or certificate holder to rescind the contract not later than the 30th day after the date on which the contract is executed by all parties or not later than the 15th day after the policyholder or certificate holder receives the viatical settlement proceeds, whichever is the longer period. In order to rescind a contract, a policyholder or certificate holder who has received the proceeds shall return them to the viatical settlement provider or financing entity.   (4) If a viatical settlement provider enters into a viatical settlement that allows the viator to retain an interest in the policy, the viatical settlement contract must contain all of the following provisions:   (a) that the viatical settlement provider shall effect the transfer of the amount of the death benefit only to the extent or portion of the amount viaticated. Benefits in excess of the amount viaticated must be paid directly to the viator's beneficiary by the insurance company.   (b) that the premiums to be paid by the viatical settlement provider and the viator will be apportioned unless the viatical settlement contract specifies that all premiums must be paid by the viatical settlement provider. The contract may also require that the viator reimburse the viatical settlement provider for the premiums attributable to the retained interest.   (c) that the viatical settlement provider shall, upon acknowledgment of the perfection of the transfer, either:   (i) advise the insured in writing that the insurance company has confirmed the viator's interest in the policy; or   (ii) provide the insured with a copy of the instrument provided by the insurance company to the viatical settlement provider that acknowledges the viator's interest in the policy.   History: En. Sec. 8, Ch. 298, L. 1997; amd. Sec. 5, Ch. 272, L. 2009.
MT Code § 33-20-1309 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 13. Viatical Settlements|33-20-1309. Annual report by provider

  33-20-1309. Annual report by provider. Unless the commissioner grants a time extension, a viatical settlement provider shall file a report for the preceding calendar year with the commissioner on or before March 1 of each year. The report must be in the form and must contain the information that the commissioner prescribes. The report must be verified as follows:   (1) if the viatical settlement provider is a corporation, by at least two principal officers of the viatical settlement provider;   (2) if the viatical settlement provider is a partnership, by two partners; or   (3) if the viatical settlement provider is not a corporation or a partnership, by the provider's owner and manager.   History: En. Sec. 9, Ch. 298, L. 1997.
MT Code § 33-20-1310 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 13. Viatical Settlements|33-20-1310. Examination of business and practices of licensee or applicant -- maintenance of business records

  33-20-1310. Examination of business and practices of licensee or applicant -- maintenance of business records. (1) The commissioner may examine the business and practices of any licensee or applicant for a license when the commissioner determines an examination to be necessary. The commissioner may order a licensee or applicant to produce any records, books, files, or other information reasonably necessary to ascertain whether the licensee or applicant is acting or has acted in violation of the law or contrary to the interests of the public. The licensee or applicant shall pay the expenses incurred in conducting an examination.   (2) A viatical settlement provider shall maintain records of all transactions of viatical settlement contracts of the viatical settlement provider and shall make the records available to the commissioner for inspection during reasonable business hours. The records must be maintained for a period of not less than 5 years from the date of their creation.   (3) The commissioner may at any time require a licensee to fully disclose the identity of all stockholders, partners, officers, and employees.   (4) The names of and individual identification data for all policyholders and certificate holders who have entered viatical settlement contracts with viatical settlement providers are confidential and may not be disclosed except in cases in which the commissioner determines that the merits of public disclosure exceed the demands of individual privacy.   History: En. Sec. 10, Ch. 298, L. 1997; amd. Sec. 10, Ch. 416, L. 1999.
MT Code § 33-20-1311 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 13. Viatical Settlements|33-20-1311. Disclosure of information to policyholder

  33-20-1311. Disclosure of information to policyholder. A viatical settlement provider shall disclose the information specified in this section to the policyholder or certificate holder entering the viatical settlement contract prior to the date on which the viatical settlement contract is signed by all parties. The disclosure must be in the form approved by the commissioner. The information must include the following:   (1) possible alternatives to viatical settlement contracts for persons with terminal illnesses or conditions, including but not limited to accelerated benefits offered by the issuer of the life insurance policy;   (2) the fact that some or all of the proceeds of the viatical settlement may be taxable and that assistance should be sought from a personal tax adviser. Viatical settlement brokers, viatical settlement providers, or their respective employees or agents may not act as personal tax advisers for purposes of this disclosure requirement.   (3) the fact that the viatical settlement could be subject to the claims of creditors;   (4) the fact that receipt of a viatical settlement may adversely affect the recipient's eligibility for medicaid or other government benefits or entitlement and that advice should be obtained from the appropriate agencies;   (5) the right of a policyholder or certificate holder to rescind a viatical settlement contract as provided in 33-20-1308. The disclosure must state the deadlines for rescission and the return of proceeds received.   (6) the date by which the funds will be available to the policyholder or certificate holder and the source of the funds; and   (7) the fact that the viatical settlement contract is void if the viatical settlement provider or viatical settlement broker fails to tender payment of the proceeds as provided in the viatical settlement contract.   History: En. Sec. 11, Ch. 298, L. 1997; amd. Sec. 3, Ch. 295, L. 2001.
MT Code § 33-20-1312 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 13. Viatical Settlements|33-20-1312. Conditions precedent to entering into viatical settlement contract

  33-20-1312. Conditions precedent to entering into viatical settlement contract. (1) Before a viatical settlement provider enters into a viatical settlement contract with a policyholder or certificate holder who has a terminal illness or condition, the viatical settlement provider shall first obtain the following:   (a) a written statement from an attending physician that the policyholder or certificate holder is of sound mind and not under constraint or undue influence; and   (b) a witnessed document in which the policyholder or certificate holder:   (i) consents to the viatical settlement contract;   (ii) acknowledges that the illness or condition is terminal;   (iii) represents that the policyholder or certificate holder has a full and complete understanding of the viatical settlement contract;   (iv) confirms that the policyholder or certificate holder has a full and complete understanding of the benefits of the life insurance policy;   (v) releases the medical records of the policyholder or certificate holder relating to the terminal illness or condition; and   (vi) acknowledges that the policyholder or certificate holder has entered into the viatical settlement contract freely and voluntarily.   (2) A viatical settlement provider may enter a viatical settlement contract only after the individual whose life would be the subject of the viatical settlement contract is determined to have a terminal illness or condition, as follows:   (a) if the individual is the policyholder or certificate holder, an attending physician of the policyholder or certificate holder shall make the determination; or   (b) if the individual is a person other than the policyholder or certificate holder, an attending physician of the individual or of the policyholder or certificate holder shall make the determination.   (3) For purposes of this section, "attending physician" means a medical doctor, a doctor of osteopathy, or a naturopathic physician licensed in this state, who is primarily responsible for the treatment or a portion of treatment of the individual whose life would be the subject of the viatical settlement contract.   History: En. Sec. 12, Ch. 298, L. 1997.
MT Code § 33-20-1314 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 13. Viatical Settlements|33-20-1314. Payment to escrow or trust account -- lump-sum payment

  33-20-1314. Payment to escrow or trust account -- lump-sum payment. (1) Within 3 business days after receipt of documents from the policyholder or certificate holder effecting the transfer of the insurance policy or certificate, the viatical settlement provider shall pay the proceeds of the settlement to an escrow or trust account managed by a trustee or escrow agent in a bank approved by the commissioner, pending acknowledgment of the transfer by the issuer of the life insurance policy. The trustee or escrow agent shall transfer the proceeds due to the policyholder or certificate holder immediately upon receipt of acknowledgment of the transfer from the insurer.   (2) A viatical settlement provider shall make payment of the proceeds of a viatical settlement contract in a lump sum except as provided in this subsection. A viatical settlement provider may not retain any portion of the proceeds. A viatical settlement provider may make installment payments only if the viatical settlement provider has purchased an annuity issued by an authorized insurer or a similar financial instrument issued by a financial institution authorized to engage in the business of a financial institution in this state.   (3) Failure by the viatical settlement provider to tender the viatical settlement by the date disclosed to the policyholder or certificate holder renders the contract void.   History: En. Sec. 14, Ch. 298, L. 1997; amd. Sec. 6, Ch. 272, L. 2009.