reglab/housing_qa huggingface dataset:
MT Code § 33-3-604 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 3. Domestic Stock and Mutual Insurers|Part 6. Dissolution and Liquidation|33-3-604. Distribution of assets of mutual insurer

  33-3-604. Distribution of assets of mutual insurer. The maximum amount that a mutual insurer may pay to a policyholder upon dissolution, in addition to the benefits promised in the insurance policy, is the total of the premium payments made by the policyholder with interest at the legal rate compounded annually. Any excess over the amounts must be deposited with the state treasurer to the credit of the state general fund. A person may participate in the distribution of assets of a mutual insurer only if the person has a policy in effect 180 days before the insurer files its plan for dissolution with the commissioner. The amount that a person eligible to participate in the distribution of assets of a mutual insurer may receive must be in the proportion that the premiums paid by the policyholder bear to the total premiums paid to the mutual insurer by all policyholders who had policies in effect 180 days before the insurer filed its plan for dissolution with the commissioner.   History: En. Sec. 5, Ch. 389, L. 1987; amd. Sec. 1148, Ch. 56, L. 2009.
MT Code § 33-3-701 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 3. Domestic Stock and Mutual Insurers|Part 7. Disclosure of Material Transactions|33-3-701. Short title

  33-3-701. Short title. This part may be cited as the "Disclosure of Material Transactions Act".   History: En. Sec. 78, Ch. 379, L. 1995.
MT Code § 33-3-702 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 3. Domestic Stock and Mutual Insurers|Part 7. Disclosure of Material Transactions|33-3-702. Report

  33-3-702. Report. (1) An insurer domiciled in this state shall file a report with the commissioner disclosing material acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance agreements unless the acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions have been submitted to the commissioner for review or approval or for information purposes pursuant to other provisions of the insurance code, laws, or regulations or other requirements.   (2) The report required in subsection (1) is due within 15 days after the end of the calendar month in which any of the transactions in subsection (1) occur.   (3) One complete copy of the report, including any exhibits or other attachments, must be filed with:   (a) the insurance department of the state in which the insurer is domiciled; and   (b) the national association of insurance commissioners.   (4) All reports obtained by or disclosed to the commissioner pursuant to this part must be treated confidentially, may not be subject to subpoena, and may not be made public by the commissioner, the national association of insurance commissioners, or any other person, except to insurance departments of other states, without the prior consent of the insurer to which it pertains unless the commissioner, after giving the insurer notice and an opportunity to be heard, determines that the interest of policyholders, shareholders, or the public will be served by publication, in which event the commissioner may publish all or any part of the report in the manner the commissioner chooses.   History: En. Sec. 79, Ch. 379, L. 1995.
MT Code § 33-3-703 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 3. Domestic Stock and Mutual Insurers|Part 7. Disclosure of Material Transactions|33-3-703. Acquisitions and dispositions of assets

  33-3-703. Acquisitions and dispositions of assets. (1) Acquisitions or dispositions of assets that are not material are not required to be reported pursuant to 33-3-702 if the acquisitions or dispositions are not material. For purposes of this part, a material acquisition or the aggregate of any series of related acquisitions during any 30-day period or a disposition or the aggregate of any series of related dispositions during any 30-day period is one that is nonrecurring and not in the ordinary course of business and involves more than 5% of the reporting insurer's total admitted assets as reported in its most recent statutory statement filed with the insurance department of the insurer's state of domicile.   (2) Asset acquisitions subject to this part include every purchase, lease, exchange, merger, consolidation, succession, or other acquisition, other than the construction or development of real property, by or for the reporting insurer or the acquisition of materials for this purpose.   (3) Asset dispositions subject to this part include each sale, lease, exchange, merger, consolidation, mortgage, hypothecation, assignment, whether for the benefit of creditors or otherwise, abandonment, destruction, or other disposition.   (4) The following information is required to be disclosed in any report of a material acquisition or disposition of assets:   (a) the date of the transaction;   (b) the manner of acquisition or disposition;   (c) the description of the assets involved;   (d) the nature and amount of the consideration given or received;   (e) the purpose or reason for the transaction;   (f) the manner by which the amount of consideration was determined;   (g) the gain or loss recognized or realized as a result of the transaction; and   (h) the names of the persons from whom the assets were acquired or to whom they were disposed.   (5) An insurer is required to report material acquisitions and dispositions on a nonconsolidated basis unless the insurer is part of a consolidated group of insurers that uses a pooling arrangement or 100% reinsurance agreement that affects the solvency and integrity of the insurer's reserves and the insurer ceded substantially all of its direct and assumed business to the pool. An insurer cedes substantially all of its direct and assumed business to a pool if the insurer has less than $1 million total direct plus assumed written premiums during a calendar year that are not subject to a pooling arrangement and the net income of the business not subject to the pooling arrangement represents less than 5% of the insurer's capital and surplus.   History: En. Sec. 80, Ch. 379, L. 1995.
MT Code § 33-4-101 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 4. Farm Mutual Insurers|Part 1. General Provisions|33-4-101. Scope of chapter -- provisions applicable

  33-4-101. Scope of chapter -- provisions applicable. (1) The chapter applies to:   (a) all domestic mutual hail, fire, and other casualty insurers of farm property and stock and rural buildings formed and immediately prior to January 1, 1961, lawfully transacting insurance under sections 40-1501 through 40-1517 of the Revised Codes of Montana, 1947;   (b) all domestic mutual rural insurers formed and immediately prior to January 1, 1961, lawfully transacting insurance under sections 40-1601 through 40-1625 of the Revised Codes of Montana, 1947;   (c) all insurers formed under this chapter.   (2) The insurance laws of this state do not apply to or govern, either directly or indirectly, domestic farm mutual insurers except as provided in this chapter.   (3) The following chapters and sections of this title apply to farm mutual insurers to the extent applicable and not inconsistent with the express provisions of this chapter and the reasonable implications of the express provisions of this chapter: chapter 1, parts 1 through 4, 7, 12, and 13; 33-2-112; 33-2-501; 33-2-502; 33-2-708; 33-2-1212; chapter 2, parts 13 and 16; 33-2-1501; 33-2-1517(2); 33-3-218; 33-3-308; 33-3-309; 33-3-401; 33-3-402; 33-3-431; 33-3-436; chapter 3, part 6; and chapters 18 and 19.   History: En. Secs. 468, 520, Ch. 286, L. 1959; R.C.M. 1947, 40-4801, 40-4853; amd. Sec. 141, Ch. 575, L. 1981; amd. Sec. 12, Ch. 451, L. 1993; amd. Sec. 1, Ch. 158, L. 1997; amd. Sec. 19, Ch. 472, L. 1999; amd. Sec. 32, Ch. 227, L. 2001; amd. Sec. 15, Ch. 380, L. 2003; amd. Sec. 7, Ch. 469, L. 2005; amd. Sec. 11, Ch. 63, L. 2015.
MT Code § 33-4-102 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 4. Farm Mutual Insurers|Part 1. General Provisions|33-4-102. Definitions

  33-4-102. Definitions. (1) A "county mutual insurer" is a farm mutual insurer authorized to insure property and liability risks located in the county in which its principal office is located and in the counties in this state with boundaries contiguous with the principal office county.   (2) A "farm mutual insurer" is an insurer that meets the qualifications of 33-4-101(1).   (3) A "state mutual insurer" is a farm mutual insurer authorized to insure property and liability risks throughout the state.   (4) "Surplus" is the extent to which the value of an insurer's assets exceeds its liabilities.   History: En. Secs. 469, 481, Ch. 286, L. 1959; R.C.M. 1947, 40-4802, 40-4814; amd. Sec. 2, Ch. 158, L. 1997.
MT Code § 33-4-103 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 4. Farm Mutual Insurers|Part 1. General Provisions|33-4-103. Corporate powers in general

  33-4-103. Corporate powers in general. (1) An insurance corporation formed under this chapter or existing on January 1, 1961, and of a type which might be formed under this chapter shall have the same capacity to act possessed by individuals but with authority to perform only such lawful acts as are necessary or proper to accomplish its purposes.   (2) Without affecting the authority contained in subsection (1) above, every such corporation shall have the following corporate powers:   (a) to have succession by its corporate name for the period stated in its articles;   (b) to sue and be sued in its corporate name;   (c) to adopt, use, and alter a corporate seal;   (d) to acquire, hold, sell, use, dispose of, pledge, or mortgage any such property as its purpose may require, subject to any limitation prescribed by law or the articles of incorporation;   (e) to transact insurance;   (f) to conduct its affairs through its directors, officers, employees, insurance producers, and representatives thereunto duly authorized;   (g) to make bylaws not inconsistent with law for the exercise of its corporate powers, the management, regulation, and government of its affairs and property, including but not limited to calling and holding of meetings of its directors or members, and to modify or amend such bylaws;   (h) to exercise, subject to law and the express provisions of the articles of incorporation, all such incidental and subsidiary powers as may be necessary or convenient to the attainment of the objectives set forth in such articles;   (i) to dissolve and wind up or be dissolved and wound up in the manner provided by law.   (3) An insurance corporation formed under this chapter may also form a subsidiary entity for the purpose of acting as an insurance producer, transacting insurance underwritten by other insurers. The subsidiary entity shall comply with the licensing requirements of chapter 17, as well as all other laws that apply to insurance producers. Funds used by an insurance corporation formed under this chapter for a subsidiary entity insurance producer are considered investments but are exempt from the requirements of 33-4-403.   History: En. Sec. 479, Ch. 286, L. 1959; R.C.M. 1947, 40-4812; amd. Sec. 1, Ch. 713, L. 1989; amd. Sec. 15, Ch. 151, L. 2017.
MT Code § 33-4-201 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 4. Farm Mutual Insurers|Part 2. Formation|33-4-201. Eligible incorporators

  33-4-201. Eligible incorporators. (1) One hundred or more individuals residing in this state, each of whom is 18 years of age or more, who collectively own farm property as referred to in 33-4-501(1)(a) valued at not less than $500,000 which they desire to insure, and each of whom owns farm lands or ranch lands situated in this state valued at not less than $5,000, may incorporate a state mutual insurer.   (2) Twenty-five or more individuals residing in this state, each of whom is 18 years or more of age, each of whom owns farm land or ranch land valued at $5,000 or more in the county wherein is to be located the principal office of the proposed insurer or in any county in this state contiguous with such county, and who collectively own in such counties farm property referred to in 33-4-501(1)(a) valued at not less than $125,000 which they desire to insure, may incorporate a county mutual insurer.   History: En. Sec. 474, Ch. 286, L. 1959; amd. Sec. 8, Ch. 423, L. 1971; R.C.M. 1947, 40-4807.
MT Code § 33-4-202 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 4. Farm Mutual Insurers|Part 2. Formation|33-4-202. Declaration of intention to incorporate -- articles of incorporation

  33-4-202. Declaration of intention to incorporate -- articles of incorporation. (1) The individuals proposing to form a farm mutual insurer as referred to in 33-4-201 shall file with the commissioner:   (a) a declaration of their intention to form the corporation signed by at least 100 persons if a proposed state mutual insurer or by at least 25 persons if a proposed county mutual insurer; and   (b) proposed articles of incorporation executed by three or more incorporators. The signatures of the incorporators must be notarized.   (2) The articles of incorporation must state:   (a) the name of the corporation. If a state mutual insurer, the words "farm mutual" must be a part of the name; if a county mutual insurer, the name must contain the words "farm mutual" or "rural mutual" together with the name of the county in which its principal place of business is to be located. The name may not be so similar to one already used by a corporation in this state as to be misleading.   (b) if a county mutual insurer, the name of the county or counties in which the corporation is to transact insurance and the address where its principal business office will be located;   (c) if a state mutual insurer, the location of its principal business office, which must be located in this state;   (d) the objects and purposes for which the corporation is formed;   (e) whether the insurer intends to transact business on the cash premium plan or the assessment plan;   (f) the duration of the corporation's existence, which may be perpetual;   (g) the number of its directors, which may not be less than 5 or more than 11, and the names and addresses of the members of the initial board of directors appointed to manage the affairs of the corporation until the first annual meeting of the members at which time successors must be elected and qualified;   (h) other provisions, not inconsistent with law, considered appropriate by the incorporators;   (i) the names, residences, and addresses of the persons signing the declaration under subsection (1)(a) and the value of their property to be insured in the county or counties where the operations of the corporation are to be transacted.   History: En. Sec. 475, Ch. 286, L. 1959; R.C.M. 1947, 40-4808; amd. Sec. 35, Ch. 379, L. 1995; amd. Sec. 14, Ch. 531, L. 1997; amd. Sec. 16, Ch. 380, L. 2003; amd. Sec. 6, Ch. 117, L. 2019.
MT Code § 33-4-203 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 4. Farm Mutual Insurers|Part 2. Formation|33-4-203. Approval of articles -- commencement of corporate existence

  33-4-203. Approval of articles -- commencement of corporate existence. (1) If the commissioner finds the proposed articles of incorporation to be in accordance with the provisions of this chapter and not in conflict with the constitution and laws of the United States or of this state, the articles must be approved. The commissioner shall forward the approved articles and the applicable fees to the secretary of state.   (2) If the commissioner considers the name of the proposed corporation to be so similar to one already appropriated by another company or corporation as to be likely to mislead the public, the commissioner shall reject the name applied for and shall notify the incorporators of the rejection.   (3) The corporation has legal existence upon the issuance of the certificate of incorporation by the secretary of state, but it may not transact business as an insurer until it has obtained a certificate of authority as provided in 33-4-505.   History: En. Sec. 476, Ch. 286, L. 1959; R.C.M. 1947, 40-4809; amd. Sec. 13, Ch. 451, L. 1993; amd. Sec. 36, Ch. 379, L. 1995; amd. Sec. 15, Ch. 531, L. 1997; amd. Sec. 20, Ch. 472, L. 1999; amd. Sec. 7, Ch. 117, L. 2019.
MT Code § 33-4-204 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 4. Farm Mutual Insurers|Part 2. Formation|33-4-204. Amendment of articles -- change of status

  33-4-204. Amendment of articles -- change of status. (1) A farm mutual insurer may, by a vote of two-thirds of its members present at any annual meeting or at any special meeting called for that purpose, amend its articles of incorporation to extend its corporate duration or any other particular within the scope of this chapter by causing amended articles to be filed in the same form and manner as required for original articles of incorporation.   (2) (a) A county mutual insurer may change its status to that of a state mutual insurer by amending its articles of incorporation pursuant to the requirements of this section.   (b) A county mutual insurer that changes its status to that of a state mutual insurer shall conform with all requirements for a state mutual insurer under this chapter.   (3) (a) A state mutual insurer may change its status to that of a county mutual insurer by amending its articles of incorporation pursuant to this section.   (b) A state mutual insurer that changes its status to that of a county mutual insurer shall conform with all requirements for a county mutual insurer under this chapter.   (4) The commissioner shall review the amended articles for compliance with this title. The amended articles of incorporation may be signed only by the president and secretary of the corporation. Notice of the proposed amendment must be contained in the notice of the annual or special meeting.   History: En. Sec. 477, Ch. 286, L. 1959; R.C.M. 1947, 40-4810; amd. Sec. 16, Ch. 531, L. 1997; amd. Sec. 1, Ch. 228, L. 2001; amd. Sec. 16, Ch. 151, L. 2017; amd. Sec. 8, Ch. 117, L. 2019.
MT Code § 33-4-205 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 4. Farm Mutual Insurers|Part 2. Formation|33-4-205. Certified copies of articles as evidence

  33-4-205. Certified copies of articles as evidence. A copy of the articles of incorporation of a farm mutual insurer and any amendments thereof filed pursuant to law and certified by the commissioner shall be received in all courts and other places as prima facie evidence of the facts therein stated and of the due incorporation of the insurer.   History: En. Sec. 478, Ch. 286, L. 1959; R.C.M. 1947, 40-4811.
MT Code § 33-4-206 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 4. Farm Mutual Insurers|Part 2. Formation|33-4-206. Initial qualifications

  33-4-206. Initial qualifications. When applying for an original certificate of authority as an insurer newly organized in this state or for an amended certificate of authority in the case of a county mutual insurer that is changing its status to that of a state mutual insurer pursuant to 33-4-204, the insurer must have surplus as required by 33-4-401 and be otherwise qualified under this chapter, and:   (1) if a county mutual insurer, it must have received acceptable bona fide written applications from 25 separate persons for substantial insurance of the kinds of insurance proposed to be transacted, aggregating at least $100,000. The applicants must have given to the insurer the obligations referred to in 33-4-508 or paid the premium required for the insurance, subject to the insurer qualifying to transact the kinds of insurance for which it has applied.   (2) if a state mutual insurer or a county mutual insurer that has changed its status to that of a state mutual insurer pursuant to 33-4-204, it must have received acceptable bona fide written applications from 100 separate persons, each for substantial insurance, aggregating at least $500,000 of the kinds of insurance proposed to be transacted. The applicants must have given to the insurer the obligations referred to in 33-4-508 or paid the premium required for the insurance, subject to the insurer qualifying to transact the kinds of insurance for which it has applied.   (3) if to insure growing crops against loss or damage by hail, it must have received applications for hail insurance from not less than 100 persons residing in Montana and owning in the aggregate not less than 5,000 acres of grain. Each applicant must have given to the insurer the obligations referred to in 33-4-508 or paid the premium required for the insurance, subject to the insurer qualifying to transact hail insurance.   History: En. Sec. 480, Ch. 286, L. 1959; R.C.M. 1947, 40-4813; amd. Sec. 2, Ch. 228, L. 2001.
MT Code § 33-4-301 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 4. Farm Mutual Insurers|Part 3. Management|33-4-301. Bylaws -- adoption -- power to amend

  33-4-301. Bylaws -- adoption -- power to amend. Upon commencement of the legal existence of an insurer, its initial board of directors shall adopt such original bylaws, not inconsistent with the state constitution or this chapter, as may be deemed necessary for the management of its affairs. The bylaws shall be subject to the approval of the insurer's members at their next succeeding meeting. The members shall otherwise have the power to make, modify, and revoke bylaws.   History: En. Sec. 484, Ch. 286, L. 1959; R.C.M. 1947, 40-4817.