reglab/housing_qa huggingface dataset:
MT Code § 33-20-904 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 9. Annuity Disclosure|33-20-904. Definitions

  33-20-904. Definitions. As used in this part, the following definitions apply:   (1) "Contract owner" means the owner named in the annuity contract or a certificate holder in the case of a group annuity contract.   (2) (a) "Determinable elements" means elements that are derived from processes or methods that are guaranteed at issue and are not subject to insurer discretion, but the values or amounts cannot be determined until some point after issue.   (b) The term includes premiums, credited interest rates (including any bonus), benefits, values, noninterest-based credits, and charges or elements of formulas used to determine any of these items.   (c) Determinable elements may be described as guaranteed but not determined at issue.   (d) An element is considered determinable if it was calculated from underlying determinable elements only or from both determinable and guaranteed elements.   (3) "Generic name" means a short title descriptive of the annuity contract being applied for, such as "single premium deferred annuity".   (4) "Guaranteed elements" means the premiums, credited interest rates (including any bonus), benefits, values, noninterest-based credits, and charges or elements of formulas used to determine any of these items that are guaranteed and determined at issue. An element is considered guaranteed if all of the underlying elements that go into its calculation are guaranteed.   (5) "Nonguaranteed elements" means the premiums, credited interest rates (including any bonus), benefits, values, noninterest-based credits, and charges or elements of formulas used to determine any of these items that are subject to insurer discretion and are not guaranteed at issue. An element is considered nonguaranteed if any of the underlying nonguaranteed elements are used in its calculation.   (6) "Structured settlement annuity" means a qualified funding asset as defined in section 130(d) of the Internal Revenue Code, 26 U.S.C. 130(d), or an annuity that would be a qualified funding asset under section 130(d) except that it is not owned by an assignee under a qualified assignment.   History: En. Sec. 10, Ch. 476, L. 2007.
MT Code § 33-20-906 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 9. Annuity Disclosure|33-20-906. Report to contract owners

  33-20-906. Report to contract owners. (1) For annuities in the payout period with changes in nonguaranteed elements and for the accumulation period of a deferred annuity, the insurer shall provide each contract owner with a report, at least annually, on the status of the contract.   (2) The report must contain at least the following information:   (a) the beginning and ending date of the current report period;   (b) the accumulation and cash surrender value, if any, at the end of the previous report period and at the end of the current report period;   (c) the total amounts, if any, that have been credited, charged to the contract value, or paid during the current report period; and   (d) the amount of outstanding loans, if any, as of the end of the current report period.   History: En. Sec. 12, Ch. 476, L. 2007.
MT Code § 33-20-907 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 9. Annuity Disclosure|33-20-907. Penalties

  33-20-907. Penalties. In addition to any other penalties provided in Title 33, an insurer or insurance producer that violates a provision of this part also violates 33-18-102.   History: En. Sec. 13, Ch. 476, L. 2007.
MT Code § 33-20-1001 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 10. General Requirements for Group Life|33-20-1001. Group contracts required to meet group requirements

  33-20-1001. Group contracts required to meet group requirements. (1) No life insurance policy shall be delivered in this state insuring the lives of more than one individual unless to one of the groups as provided for in 33-20-1101 through 33-20-1106 and unless in compliance with the other applicable provisions of parts 10 through 12 of this chapter.   (2) Subsection (1) above shall not apply to life insurance policies insuring only individuals:   (a) related by blood, marriage, or legal adoption;   (b) having a common interest through ownership of a business enterprise or a substantial legal interest or equity therein and who are actively engaged in the management thereof; or   (c) otherwise having an insurable interest in each other's lives.   History: En. Sec. 328, Ch. 286, L. 1959; R.C.M. 1947, 40-3901; amd. Sec. 151, Ch. 575, L. 1981.
MT Code § 33-20-1002 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 10. General Requirements for Group Life|33-20-1002. Employee life insurance defined

  33-20-1002. Employee life insurance defined. "Employee life insurance" is that plan of life insurance, other than salary savings life insurance or pension trust insurance and annuities, under which individual policies are issued to the employees of any employer and when the policies are issued on the lives of not less than five employees at date of issue. Premiums for the policies must be paid by the employer or the trustee of a fund established by the employer either wholly from the employer's funds or funds contributed by the employer or partly from those funds and partly from funds contributed by the insured employees.   History: En. Sec. 349, Ch. 286, L. 1959; R.C.M. 1947, 40-3922; amd. Sec. 1212, Ch. 56, L. 2009.
MT Code § 33-20-1003 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 10. General Requirements for Group Life|33-20-1003. Repealed

  33-20-1003. Repealed. Sec. 32, Ch. 396, L. 2017.   History: En. Sec. 350, Ch. 286, L. 1959; R.C.M. 1947, 40-3923.
MT Code § 33-20-1101 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 11. Groups and Group Requirements|33-20-1101. Employee groups

  33-20-1101. Employee groups. (1) Subject to the requirements in subsections (2) through (5), the lives of a group of individuals may be insured under a policy issued to an employer or to the trustees of a fund established by an employer to insure employees of the employer for the benefit of persons other than the employer. The employer or trustees must be considered the policyholder.   (2) (a) The employees eligible for insurance under the policy must be all of the employees of the employer or all of any class or classes of the employer determined by conditions pertaining to their employment. The policy may provide that the term "employees" includes:   (i) the employees of one or more subsidiary corporations and the employees, individual proprietors, and partners of one or more affiliated corporations, proprietors, or partnerships if the business of the employer and of the employer's affiliated corporations, proprietors, or partnerships is under common control;   (ii) the individual proprietor or partners if the employer is an individual proprietor or a partnership; or   (iii) retired employees.   (b) A director of a corporate employer is not eligible for insurance under the policy unless the director is otherwise eligible as a bona fide employee of the corporation by performing services other than the usual duties of a director.   (c) An individual proprietor or partner is not eligible for insurance under the policy unless the individual proprietor or partner is actively engaged in and devotes a substantial part of working hours to the conduct of the business of the proprietor or partnership.   (3) (a) Payment of the premium for the insurance must be made by the policyholder from:   (i) the employer's funds or funds contributed by the employer;   (ii) funds contributed by the insured employees or members; or   (iii) funds contributed by a combination of payors in subsections (3)(a)(i) and (3)(a)(ii).   (b) A policy on which no part of the premium is to be derived from funds contributed by the insured employees must insure all eligible employees or all except any as to whom evidence of individual insurability is not satisfactory to the insurer.   (4) The policy must cover at least two employees at date of issue.   (5) The amount of insurance under the policy must be based upon a plan precluding individual selection either by the employees or by the employer or trustees.   History: En. Sec. 329, Ch. 286, L. 1959; R.C.M. 1947, 40-3902; amd. Sec. 25, Ch. 469, L. 2005; amd. Sec. 1, Ch. 430, L. 2007.
MT Code § 33-20-1102 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 11. Groups and Group Requirements|33-20-1102. Labor union groups

  33-20-1102. Labor union groups. The lives of a group of individuals may be insured under a policy issued to a labor union, which shall be deemed the policyholder, to insure members of such union for the benefit of persons other than the union or any of its officials, representatives, or agents, subject to the following requirements:   (1) The members eligible for insurance under the policy shall be all of the members of the union or all of any class or classes thereof determined by conditions pertaining to their employment or to membership in the union, or both.   (2) The premium for the policy shall be paid by the policyholder, either wholly from the union's funds or partly from such funds and partly from funds contributed by the insured members specifically for their insurance. No policy may be issued on which the entire premium is to be derived from funds contributed by the insured members specifically for their insurance. A policy on which part of the premium is to be derived from funds contributed by the insured members specifically for their insurance may be placed in force only if at least 75% of the then eligible members, excluding any as to whom evidence of individual insurability is not satisfactory to the insurer, elect to make the required contributions. A policy on which no part of the premium is to be derived from funds contributed by the insured members specifically for their insurance must insure all eligible members or all except any as to whom evidence of individual insurability is not satisfactory to the insurer.   (3) The policy must cover at least 25 members at date of issue.   (4) The amounts of insurance under the policy must be based upon some plan precluding individual selection either by the members or by the union.   History: En. Sec. 330, Ch. 286, L. 1959; R.C.M. 1947, 40-3903.
MT Code § 33-20-1104 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 11. Groups and Group Requirements|33-20-1104. Public employee groups

  33-20-1104. Public employee groups. The lives of a group of individuals may be insured under a policy issued to an incorporated city, town, or village or an association or league of cities, towns, or villages, an independent school district, state college or university, any association of state employees, and any association of state, county, and city, town, or village employees and any combination of state, county, or city, town, or village employees and any department of the state or county government, which employer or association shall be deemed the policyholder, to insure the employees of any such incorporated city, town, or village, of any such independent school district, of any such state college and university, or of any such department of the state or county government or members of any association of state, county, or city, town, or village employees, for the benefit of persons other than the policyholder, subject to the following requirements:   (1) The employees eligible for insurance under the policy shall be all of the employees of the employer or all of any class or classes thereof determined by conditions pertaining to their employment. The policy may provide that the term "employees" shall include retired employees. A policy issued to insure the employees of a public body may provide that the term "employees" shall include elected or appointed officials.   (2) The premium for the policy shall be paid by the policyholder wholly from funds contributed by it as employer or partly from such funds and partly from funds contributed by the insured employees or wholly from funds contributed by the insured employees, except that:   (a) the employer may deduct from the employees' salaries the required contributions for the premiums when authorized in writing by the respective employees so to do; and   (b) the premium for the policy may be paid by the policyholder wholly or partly from funds contributed by any incorporated city, town, or village policyholder when authorized by the charter of such city, town, or village or as otherwise authorized by law.   (3) Such policy may be placed in force only if at least 75% of the eligible employees, excluding any as to whom evidence of individual insurability is not satisfactory to the insurer, elect to make the required premium contributions and become insured thereunder.   (4) The policy must cover at least 10 employees at date of issue.   History: En. Sec. 332, Ch. 286, L. 1959; R.C.M. 1947, 40-3905.
MT Code § 33-20-1105 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 11. Groups and Group Requirements|33-20-1105. Debtor groups

  33-20-1105. Debtor groups. The lives of a group of individuals may be insured under a policy issued to a creditor, who is considered the policyholder, to insure the debtors of the creditor, subject to the following requirements:   (1) The debtors eligible for insurance under the policy must be all of the debtors of the creditor or all of any class or classes of those debtors determined by conditions pertaining to the indebtedness or the purchase giving rise to the indebtedness. The policy may provide that the term "debtors" includes the debtors of one or more subsidiary corporations and the debtors of one or more affiliated corporations, proprietors, or partnerships if the business of the policyholder and of the affiliated corporations, proprietors, or partnerships is under common control.   (2) The premium for the policy must be paid by the policyholder from the creditor's funds, from charges collected from the insured debtors, or from both. A policy on which part or all of the premium is to be derived from the collection from the insured debtors of identifiable charges not required of uninsured debtors may not include, in the class or classes of debtors eligible for insurance, debtors under obligations outstanding at its date of issue without evidence of individual insurability unless at least 75% of the then eligible debtors elect to pay the required charges. A policy on which no part of the premium is to be derived from the collection of identifiable charges must insure all eligible debtors or all except any as to whom evidence of individual insurability is not satisfactory to the insurer.   (3) The policy may be issued only if the group of eligible debtors is then receiving new entrants at the rate of at least 100 persons yearly or may reasonably be expected to receive at least 100 new entrants during the first policy year and only if the policy reserves to the insurer the right to require evidence of individual insurability if less than 75% of the new entrants become insured. The policy may exclude from the classes eligible for insurance classes of debtors determined by age.   (4) The amount of insurance on the life of any debtor may not at any time exceed the amount owed by the debtor to the creditor.   (5) The insurance must be payable to the policyholder. Each payment must reduce or extinguish the unpaid indebtedness of the debtor to the extent of the payment.   History: En. Sec. 333, Ch. 286, L. 1959; amd. Sec. 1, Ch. 132, L. 1965; R.C.M. 1947, 40-3906; amd. Sec. 1, Ch. 617, L. 1985; amd. Sec. 1214, Ch. 56, L. 2009.
MT Code § 33-20-1106 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 11. Groups and Group Requirements|33-20-1106. Credit union groups

  33-20-1106. Credit union groups. The lives of a group of individuals may be insured under a policy issued to a credit union organized pursuant to the laws of the state of Montana or the Federal Credit Union Act, which shall be deemed the policyholder, to insure eligible members for amounts of insurance not in excess of the share balance of each member, based upon some plan which will preclude individual selection, for the benefit of someone other than the credit union or its officials and subject to the following requirements:   (1) The members eligible for insurance under the policy shall be all the members of the credit union who meet standard physical requirement conditions of the insurer or all of any class or classes thereof determined by conditions pertaining to their age or to membership in the credit union or both.   (2) The premiums for the policy shall be paid by the policyholder, either wholly from the credit union's funds or partly from such funds and partly from funds contributed by the insured members specifically for their insurance. No policy may be issued on which the entire premium is to be derived from funds contributed by the insured members specifically for their insurance. A policy on which part of the premium is to be derived from funds contributed by the insured members specifically for their insurance may be placed only if at least 75% of the then eligible members, excluding any as to whom evidence of individual insurability is not satisfactory to the insured, elect to make the required contribution. A policy on which no part of the premium is to be derived from funds contributed by the insured members specifically for their insurance must insure all eligible members or all except any as to whom evidence of individual insurability is not satisfactory to the insurer.   (3) The policy must cover at least 25 members at the date of issue.   History: En. Sec. 334, Ch. 286, L. 1959; R.C.M. 1947, 40-3907.
MT Code § 33-20-1107 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 11. Groups and Group Requirements|33-20-1107. through 33-20-1110 reserved

  33-20-1107 through 33-20-1110 reserved.
MT Code § 33-20-1112 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 11. Groups and Group Requirements|33-20-1112. Discretionary groups

  33-20-1112. Discretionary groups. (1) Subject to the requirements of this section, the lives of a group of individuals may be insured under a policy issued to a group other than one described in this part if the commissioner finds that:   (a) the issuance of the policy is not contrary to the best interest of the public;   (b) the issuance of the policy would result in economies of acquisition or administration; and   (c) the benefits of the policy are reasonable in relation to the premiums charged.   (2) Group life insurance coverage under this section may be offered in this state by an insurer under a policy issued in another state only if this state or another state that has requirements substantially similar to the requirements in subsection (1) has made a determination that the requirements of subsection (1) have been met.   (3) The premium for a policy issued under this section must be paid either from the policyholder's funds, from funds contributed by the covered persons, or from both.   (4) An insurer may exclude or limit the coverage on any individual if the evidence of the individual's insurability is not satisfactory to the insurer.   History: En. Sec. 1, Ch. 163, L. 2011.
MT Code § 33-20-1201 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 12. Group Contract Provisions|33-20-1201. Provisions required in group contracts

  33-20-1201. Provisions required in group contracts. A policy of group life insurance or a certificate may not be delivered in this state unless it contains in substance the provisions set forth in this part or provisions that in the opinion of the commissioner are more favorable to the persons insured or at least as favorable to the persons insured and more favorable to the policyholder. A provision may be omitted from a certificate if the commissioner has determined that the provision is not appropriate in a certificate. However:   (1) 33-20-1207 through 33-20-1211 do not apply to policies issued to a creditor to insure debtors of the creditor;   (2) the standard provisions required for individual life insurance policies do not apply to group life insurance policies; and   (3) if the group life insurance policy is on a plan of insurance other than the term plan, it must contain a nonforfeiture provision or provisions that in the opinion of the commissioner is or are equitable to the insured persons and to the policyholder. However, this subsection may not be construed to require that group life insurance policies contain the same nonforfeiture provisions as are required for individual life insurance policies.   History: En. Sec. 337, Ch. 286, L. 1959; R.C.M. 1947, 40-3910; amd. Sec. 39, Ch. 472, L. 1999; amd. Sec. 49, Ch. 227, L. 2001.
MT Code § 33-20-1202 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 12. Group Contract Provisions|33-20-1202. Grace period

  33-20-1202. Grace period. The group life insurance policy and certificate must contain a provision that the policyholder is entitled to a grace period of 31 days for the payment of any premium due except the first, during which grace period the death benefit coverage must continue in force, unless the policyholder has given the insurer written notice of discontinuance in advance of the date of discontinuance and in accordance with the terms of the policy. The policy may provide that the policyholder is liable to the insurer for the payment of a pro rata premium for the time the policy was in force during the grace period.   History: En. Sec. 338, Ch. 286, L. 1959; R.C.M. 1947, 40-3911; amd. Sec. 28, Ch. 380, L. 2003.
MT Code § 33-20-1203 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 12. Group Contract Provisions|33-20-1203. Incontestability

  33-20-1203. Incontestability. The group life insurance policy and certificate must contain a provision that the validity of the policy may not be contested, except for nonpayment of premium, after it has been in force for 2 years from its date of issue and that a statement made by any person insured under the policy relating to the person's insurability may not be used in contesting the validity of the insurance with respect to which the statement was made after the insurance has been in force prior to the contest for a period of 2 years during the person's lifetime or unless it is contained in a written instrument signed by the person.   History: En. Sec. 339, Ch. 286, L. 1959; R.C.M. 1947, 40-3912; amd. Sec. 29, Ch. 380, L. 2003.
MT Code § 33-20-1204 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 12. Group Contract Provisions|33-20-1204. Application -- statements considered representations

  33-20-1204. Application -- statements considered representations. The group life insurance policy and certificate must contain a provision that a copy of the application, if any, of the policyholder must be attached to the policy when issued, that all statements made by the policyholder or by the persons insured must be considered representations and not warranties, and that a statement made by any person insured may not be used in any contest unless a copy of the instrument containing the statement is or has been furnished to the person or to the person's beneficiary.   History: En. Sec. 340, Ch. 286, L. 1959; R.C.M. 1947, 40-3913; amd. Sec. 30, Ch. 380, L. 2003.