reglab/statecodes huggingface dataset:
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.8 - Annuities › Rule 6.6.814 - ALTERNATIVE SATISFACTION OF TRAINING REQUIREMENTS

Current through Register Vol. 13, July 5, 2024
(1) A producer may submit a written request
				to the commissioner to evaluate a training course or courses with components
				substantially similar to those required, and prohibited, by
				33-20-807(2),
				MCA.
(2) The written request must:
(a) be made within 12 months of the producer
				attending the course or courses to be considered;
(b) be accompanied by a time-stamped syllabus
				or similar material that:
(i) shows the
				content of the course or courses; and
(ii) establishes the minimum length of
				training under
				33-20-807(2)(b),
				(f)(i), or (f)(ii), MCA, as
				applicable;
(c) include
				a narrative description, annotated syllabus, or similar cross-reference showing
				where each of the topics required by ARM 6.6.812(3)(b), as applicable to the
				producer, were addressed in the course or courses; and
(d) contain a sworn statement that the course
				or courses did not include any information on marketing, sales techniques, or
				the specific aspects of a particular insurer's products.
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.9 - Military Sales Practices › Rule 6.6.901 - PURPOSE

Current through Register Vol. 13, July 5, 2024
(1) The purpose of this rule is to set forth
				standards to protect active duty service members of the United States Armed
				Forces from dishonest and predatory insurance sales practices by declaring
				certain identified practices to be false, misleading, deceptive, or
				unfair.
(2) Nothing herein may be
				construed to create or imply a private cause of action for a violation of this
				rule.
33-1-313,
					 33-18-103, MCA; IMP,
					 33-18-103,
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.9 - Military Sales Practices › Rule 6.6.902 - SCOPE

Current through Register Vol. 13, July 5, 2024
(1) This rule shall apply only to the
				solicitation or sale of any life insurance or annuity product by an insurer or
				insurance producer to an active duty service member of the United States Armed
				Forces.
33-1-313,
					 33-18-103, MCA; IMP,
					 33-18-103,
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.9 - Military Sales Practices › Rule 6.6.903 - AUTHORITY

Current through Register Vol. 13, July 5, 2024
(1) This rule is issued under the authority
				of 2007 Montana Laws, chapter 333 (to be codified as
				33-18-103, MCA, 2007).
33-1-313,
					 33-18-103, MCA; IMP,
					 33-18-103,
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.9 - Military Sales Practices › Rule 6.6.904 - EXEMPTIONS

Current through Register Vol. 13, July 5, 2024
(1) This rule shall not apply to
				solicitations or sales involving:
(a) credit
				insurance;
(b) group life insurance
				or group annuities where there is no in-person, face-to-face solicitation of
				individuals by an insurance producer or where the contract or certificate does
				not include a side fund;
(c) an
				application to the existing insurer that issued the existing policy or contract
				when a contractual change or a conversion privilege is being exercised; or,
				when the existing policy or contract is being replaced by the same insurer
				pursuant to a program filed with and approved by the commissioner; or, when a
				term conversion privilege is exercised among corporate affiliates;
(d) individual stand-alone health policies,
				including disability income policies;
(e) contracts offered by Servicemembers'
				Group Life Insurance (SGLI) or Veterans' Group Life Insurance (VGLI), as
				authorized by 38 U.S.C.
				Section 1965 et seq.;
(f) life insurance contracts offered through
				or by a nonprofit military association, qualifying under section 501(c)(23) of
				the Internal Revenue Code (IRC), and which are not underwritten by an insurer;
				or
(g) contracts used to fund:
(i) an employee pension or welfare benefit
				plan that is covered by the Employee Retirement and Income Security Act
				(ERISA);
(ii) a plan described by
				sections 401(a), 401(k), 403(b), 408(k), or 408(p) of the IRC, as amended, if
				established or maintained by an employer;
(iii) a government or church plan defined in
				section 414 of the IRC, a government or church welfare benefit plan, or a
				deferred compensation plan of a state or local government or tax exempt
				organization under section 457 of the IRC;
(iv) a nonqualified deferred compensation
				arrangement established or maintained by an employer or plan sponsor;
(v) settlements of or assumptions of
				liabilities associated with personal injury litigation or any dispute or claim
				resolution process; or
(vi)
				prearranged funeral contracts.
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.9 - Military Sales Practices › Rule 6.6.905 - DEFINITIONS

Current through Register Vol. 13, July 5, 2024
For the purposes of ARM
				  6.6.901 through
				  6.6.909:
(1) "Active duty" means full-time duty in the
				active military service of the United States and includes members of the
				reserve component (National Guard and Reserve) while serving under published
				orders for active duty or full-time training. The term does not include members
				of the reserve component who are performing active duty or active duty for
				training under military calls or orders specifying periods of less than 31
				calendar days.
(2) "Department of
				Defense (DoD) personnel" means all active duty service members and all civilian
				employees, including nonappropriated fund employees and special government
				employees, of the Department of Defense.
(3) "Door to door" means a solicitation or
				sales method whereby an insurance producer proceeds randomly or selectively
				from household to household without prior specific appointment.
(4) "General advertisement" means an
				advertisement having as its sole purpose the promotion of the reader's or
				viewer's interest in the concept of insurance, or the promotion of the insurer
				or the insurance producer.
(5)
				"Insurer" means an insurance company required to be licensed under the laws of
				this state to provide life insurance products, including annuities.
(6) "Insurance producer" means a person
				required to be licensed under the laws of this state to sell, solicit, or
				negotiate life insurance, including annuities.
(7) "Known" or "knowingly" means, depending
				on its use herein, the insurance producer or insurer had actual awareness, or
				in the exercise of ordinary care should have known, at the time of the act or
				practice complained of, that the person solicited:
(a) is a service member; or
(b) is a service member with a pay grade of
				E-4 or below.
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.9 - Military Sales Practices › Rule 6.6.906 - PRACTICES DECLARED FALSE, MISLEADING, DECEPTIVE, OR UNFAIR ON A MILITARY INSTALLATION

Current through Register Vol. 13, July 5, 2024
(1) The following
				acts or practices when committed on a military installation by an insurer or
				insurance producer with respect to the in-person, face-to-face solicitation of
				life insurance are declared to be false, misleading, deceptive, or unfair:
(a) knowingly soliciting the purchase of any
				life insurance product "door to door" or without first establishing a specific
				appointment for each meeting with the prospective purchaser;
(b) soliciting service members in a group or
				"mass" audience or in a "captive" audience where attendance is not
				voluntary;
(c) knowingly making
				appointments with or soliciting service members during their normally scheduled
				duty hours;
(d) making appointments
				with or soliciting service members in barracks, day rooms, unit areas, or
				transient personnel housing or other areas where the installation commander has
				prohibited solicitation;
(e)
				soliciting the sale of life insurance without first obtaining permission from
				the installation commander or the commander's designee;
(f) posting unauthorized bulletins, notices,
				or advertisements;
(g) failing to
				present DD Form 2885, "Personal Commercial Solicitation Evaluation," to service
				members solicited or encouraging service members solicited not to complete or
				submit a DD Form 2885; or
(h)
				knowingly accepting an application for life insurance or issuing a policy of
				life insurance on the life of an enlisted member of the United States Armed
				Forces without first obtaining for the insurer's files a completed copy of any
				required form which confirms that the applicant has received counseling or
				fulfilled any other similar requirement for the sale of life insurance
				established by regulations, directives, or rules of the DoD or any branch of
				the Armed Forces.
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.9 - Military Sales Practices › Rule 6.6.908 - SEVERABILITY

Current through Register Vol. 13, July 5, 2024
(1) If any provision of these rules or the
				application thereof to any person or circumstance is held invalid for any
				reason, the invalidity shall not affect the other provisions or any other
				application of these rules which can be given effect without the invalid
				provisions or application. To this end all provisions of these rules are
				declared to be severable.
33-1-313,
					 33-18-103, MCA; IMP,
					 33-18-103,
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.9 - Military Sales Practices › Rule 6.6.909 - EFFECTIVE DATE

Current through Register Vol. 13, July 5, 2024
(1) ARM
				6.6.901 through
				6.6.909 shall become effective
				January 1, 2008, and shall apply to acts or practices committed on or after the
				effective date.
33-1-313,
					 33-18-103, MCA; IMP,
					 33-18-103,
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.10 - Funeral Insurance › Rule 6.6.1001 - PURPOSE

Current through Register Vol. 13, July 5, 2024
(1) The purpose of these rules is to
				establish specific rules to regulate funeral insurance, including but not
				limited to the licensing of producers, form review, financial reporting, and
				consumer protection.
33-1-313,
					 33-20-1503, MCA; IMP,
					 33-17-201,
					 33-17-211,
					 33-17-212,
					 33-17-213,
					 33-17-214,
					 33-17-219,
					 33-17-220,
					 33-17-231,
					 33-17-236,
					 33-17-401,
					 33-17-405,
					 33-17-406,
					 33-17-407,
					 33-17-409,
					 33-17-411,
					 33-17-1001,
					 33-17-1002,
					 33-17-1003,
					 33-17-1004,
					 33-17-1005,
					 33-17-1101,
					 33-17-1102,
					 33-17-1103,
					 33-17-1203,
					 33-17-1205,
					 33-20-1501,
					 33-20-1502,
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.10 - Funeral Insurance › Rule 6.6.1002 - SCOPE

Current through Register Vol. 13, July 5, 2024
(1) These rules shall apply to:
(a) all life insurance policy forms delivered
				or issued for delivery, marketed, or designated as intended for use in this
				state as funeral insurance;
(b) any
				solicitation, negotiation, or sale of funeral insurance occurring within this
				state;
(c) reporting by funeral
				insurance issuers; and
(d) the
				licensing of specialized funeral insurance producers.
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.10 - Funeral Insurance › Rule 6.6.1003 - APPLICABILITY OF OTHER RULES

Current through Register Vol. 13, July 5, 2024
(1) Funeral
				insurance is defined in
				33-20-1501, MCA, as a type of life
				insurance, and all rules pertaining to life insurance shall apply to funeral
				insurance unless funeral insurance is specifically exempted. In the event of
				any inconsistency between these rules and other rules pertaining to life
				insurance, these rules shall govern.
33-1-313,
					 33-20-1503, MCA; IMP,
					 33-17-201,
					 33-17-211,
					 33-17-212,
					 33-17-213,
					 33-17-214,
					 33-17-219,
					 33-17-220,
					 33-17-231,
					 33-17-236,
					 33-17-401,
					 33-17-405,
					 33-17-406,
					 33-17-407,
					 33-17-409,
					 33-17-411,
					 33-17-1001,
					 33-17-1002,
					 33-17-1003,
					 33-17-1004,
					 33-17-1005,
					 33-17-1101,
					 33-17-1102,
					 33-17-1103,
					 33-17-1203,
					 33-17-1205,
					 33-20-1501,
					 33-20-1502,
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.10 - Funeral Insurance › Rule 6.6.1006 - LICENSING OF SPECIALIZED FUNERAL INSURANCE PRODUCERS

Current through Register Vol. 13, July 5, 2024
(1) No person shall solicit, negotiate, or
				sell funeral insurance unless that person is properly licensed and appointed as
				a life insurance producer or as a specialized funeral insurance producer.
(2) Any person applying for a
				specialized funeral insurance producer license shall apply in a form approved
				by the commissioner. The commissioner may require a supplement to a
				standardized license application, or a separate license application for persons
				also licensed under Title 37, chapter 19, parts 3 and 4, MCA.
(3) Any person who wishes to obtain a
				specialized funeral insurance producer license shall disclose to the
				commissioner whether the person is currently licensed as funeral director,
				undertaker, mortician, or mortuary under Title 37, chapter 19, parts 3 and 4,
				MCA. Additionally, applicants shall disclose whether they have ever had such an
				application denied, or whether a disciplinary action has ever been taken
				against such a license, and the outcome of the disciplinary
				proceeding.
(4) Any nonresident
				applicant who holds a funeral director, undertaker, mortician, mortuary, or
				similar license, by whatever name called, in another jurisdiction must first
				become licensed as a funeral director, undertaker, mortician, or mortuary under
				Title 37, chapter 19, parts 3 and 4, MCA, before the commissioner will consider
				an application for a specialized funeral insurance producer license.
(5) If the Board of Funeral Service, provided
				for in 2-15-1743, MCA, suspends, revokes,
				or terminates the license of a funeral director, undertaker, mortician, or
				mortuary, the specialized funeral insurance producer license and any
				appointments will automatically terminate. The funeral director, undertaker,
				mortician, or mortuary must notify the commissioner within ten days after a
				suspension, revocation, or license termination by the Board of Funeral Service.
AUTH:
					 33-1-313,
					 33-20-1503, MCA
IMP:
					 33-17-201,
					 33-17-211,
					 33-17-212,
					 33-17-213,
					 33-17-214,
					 33-17-219,
					 33-17-220,
					 33-17-231,
					 33-17-236,
					 33-17-401,
					 33-17-405,
					 33-17-406,
					 33-17-407,
					 33-17-409,
					 33-17-411,
					 33-17-1001,
					 33-17-1002,
					 33-17-1003,
					 33-17-1004,
					 33-17-1005,
					 33-17-1101,
					 33-17-1102,
					 33-17-1103,
					 33-17-1203,
					 33-17-1205,
					 33-20-1501,
					 33-20-1502,
					 MCA
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.10 - Funeral Insurance › Rule 6.6.1008 - REPORTING BY ISSUER

Current through Register Vol. 13, July 5, 2024
(1) The
				commissioner may require a funeral insurance issuer to file a supplement to the
				annual statement. The supplement will be in a form approved by the
				commissioner.
33-1-313,
					 33-20-1503, MCA; IMP,
					 33-2-701,
					 33-2-705,
					 33-20-1501,
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.10 - Funeral Insurance › Rule 6.6.1010 - FUNERAL INSURANCE POLICY FORMS

Current through Register Vol. 13, July 5, 2024
(1) In
				addition to the filing and approval requirements in statute and rule for life
				insurance policy forms, funeral insurance issuers must file the following with
				the commissioner for review and prior approval:
(a) solicitation materials; and
(b) disclosure forms.
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.10 - Funeral Insurance › Rule 6.6.1012 - BENEFICIARY DESIGNATION

Current through Register Vol. 13, July 5, 2024
(1) Funeral
				insurance policy forms must clearly and conspicuously:
(a) allow the insured, or applicant, if the
				applicant has an insurable interest in the life of the insured, to designate a
				primary beneficiary and an excess beneficiary;
(b) state that funeral insurance proceeds may
				be subject to recovery by Medicaid pursuant to
				33-20-1501, MCA; and
(c) subject to (1)(b), provide that if the
				primary beneficiary is a funeral director, mortician, mortuary, or undertaker:
(i) any funeral insurance proceeds that
				exceed the cost of funeral goods and services provided will be paid in
				accordance with the term of the funeral insurance, such as an excess
				beneficiary designation or provision regarding a failed beneficiary
				designation; and
(ii) under no
				circumstance may any funeral insurance proceeds be paid to the primary
				beneficiary that exceed the cost of funeral goods and services
				provided.
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.10 - Funeral Insurance › Rule 6.6.1014 - RIGHT TO RETURN POLICY

Current through Register Vol. 13, July 5, 2024
(1) Each funeral
				insurance policy and certificate delivered or issued for delivery in this state
				must clearly and conspicuously provide to the insured the right to return the
				policy or certificate to the funeral insurance issuer within 30 days of
				delivery of the policy or certificate and to receive an unconditional full
				refund of all premium and other consideration paid on it.
(2) The funeral insurance issuer must refund
				the premium and other consideration paid within 30 days of receiving the refund
				request.
(3) A funeral insurance
				policy or certificate returned pursuant to this rule is void from the
				beginning.
33-1-313,
					 33-20-1503, MCA; IMP,
					 33-1-501,
					 33-20-1501,
					 33-20-1502,
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.10 - Funeral Insurance › Rule 6.6.1016 - UNINTENTIONAL LAPSE

Current through Register Vol. 13, July 5, 2024
(1) Each issuer
				offering funeral insurance with premium payable in installments shall, as a
				protection against unintentional lapse, comply with the following:
(a) No funeral insurance policy or
				certificate shall be issued until the issuer has received from the applicant
				either a written designation of at least one individual who is to receive
				notice of lapse or termination of the policy or certificate for nonpayment of
				premium, or a written waiver dated and signed by the applicant electing not to
				designate an additional individual to receive notice. The applicant has the
				right to designate at least one individual who is to receive the notice of
				termination in addition to the insured. Designation shall not constitute
				acceptance of any liability by the third party for any goods or services
				provided to the insured. The form used for the written designation must clearly
				and conspicuously provide space for listing at least one individual. The
				designation shall include each individual's full name and home address. In the
				case of an applicant who elects not to designate an additional individual, the
				waiver shall state:
(i) "Protection against
				unintended lapse. I understand that I have the right to designate at least one
				individual other than myself to receive notice of lapse, or termination of this
				funeral insurance policy or certificate for nonpayment of premium. I understand
				that notice will not be given until 30 days after a premium is due and unpaid.
				I do
not
elect to designate an individual to receive
				this notice."
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.10 - Funeral Insurance › Rule 6.6.1020 - PROHIBITIONS

Current through Register Vol. 13, July 5, 2024
(1) The sale of funeral insurance may not be
				conditioned on:
(a) the applicant or insured
				agreeing to assign the funeral insurance proceeds to a funeral director,
				mortician, mortuary, or undertaker; or
(b) the applicant or insured making or
				entering a preneed funeral arrangement.
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.11 - Credit Life and Disability Insurance › Rule 6.6.1101 - CREDIT LIFE INSURANCE - ACCEPTABLE RATES

Current through Register Vol. 13, July 5, 2024
(1)
				Except as may otherwise be provided in this subchapter, the following rates for
				credit life insurance may be considered "prima facie acceptable rates" for
				purposes of 33-21-205, MCA. Rates which are filed by any company for the
				indicated coverage will be considered acceptable without substantiating data if
				they do not exceed these premium rates:
(a)
				If premiums are payable on a monthly outstanding balance basis the rate is $.80
				per month per $1,000 of outstanding insured debt on single life and $1.40 per
				month per $1,000 of outstanding insured debt on joint life.
(b) If the premium is charged on a single
				premium basis, the rate must be computed according to the following formula or
				according to a forumla approved by the commissioner which produces a rate which
				is substantially the same as the rate produced by the following formula:
Click here
				  to view Image.
Sp = Single premium rate per $100 of
				  initial credit life insurance coverage.
Op = $.80, the prima facie credit life
				  insurance premium rate for monthly outstanding balance coverage from
				  (1).
It = The scheduled amount of insurance
				  for month t.
Ii = Initial amount of insurance. For
				  a net insurance policy, Ii equals the initial principal
				  balance of the loan.
dis =.0036, representing an annual discount rate of 4% for
				  the interest plus.4% for mortality.
n = The number of months in the term of the insurance.
(c) The premium rate for joint
				credit life coverage must not exceed 1.75 times the permitted single credit
				life rate.
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.11 - Credit Life and Disability Insurance › Rule 6.6.1102 - LIMITATION ON PRESUMPTION OF REASONABLENESS

Current through Register Vol. 13, July 5, 2024
(1) The rates provided by ARM
				6.6.1101 are presumed to produce
				reasonable benefits in relation to premium only if:
(a) The credit life insurance contract
				contains no exclusion other than for suicide committed within two years of the
				effective date of the insurance; and
(b) The contract contains no age restrictions
				more severe than those making ineligible for coverage debtors older than the
				applicable age limit, which must not be less than attained age 65 years if such
				limit applies to the age when the insurance attaches, or not less than attained
				age 66 if such limit applies to the age on the scheduled maturity date of the
				debt.
(i) If the insurer used ages 70 and 71,
				or higher ages, instead of ages 65 or 66, the prima facie rates in-ARM
				6.6.1101(1) may be
				increased by 5%.
(ii) If the
				insurer imposes no age limit, the prima facie rates may be increased by
				10%.
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.11 - Credit Life and Disability Insurance › Rule 6.6.1104 - LIMITATION OF PRESUMPTION OF REASONABLENESS

Current through Register Vol. 13, July 5, 2024
(1) The rates provided by ARM
				6.6.1103 are presumed to produce
				reasonable benefits in relation to premiums only if:
(a) The coverage contains no exclusions for
				pre-existing conditions except for those conditions which manifested themselves
				to the insured debtor by requiring medical diagnosis or treatment within 6
				months prior to the application for insurance and which caused loss within the
				6 months following the effective date of coverage. However, a disability
				commencing after the expiration of the first 6 months following the effective
				date of coverage and resulting from such conditions shall be covered.
(i) The policy shall provide that in event
				the indebtedness covered by the policy results from the refinancing in whole or
				part of a prior debt with the same creditor, any period of exclusion for
				pre-existing conditions shall be reduced by any period that creditor-debtor
				disability coverage was in force in connection with the prior indebtedness,
				provided however, that if the resulting period of exclusion for pre-existing
				conditions is less than the period that would normally be applicable and if as
				a result a claim for which disability benefits would not otherwise be allowed
				is payable, the benefits for such claim need not be greater than those which
				would have been paid under the prior policy if it had not terminated.
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.11 - Credit Life and Disability Insurance › Rule 6.6.1105 - ALLOWABLE EXCLUSIONS AND RESTRICTIONS

Current through Register Vol. 13, July 5, 2024
(1)
				Any contract to which the rates provided by ARM
				6.6.1103 apply may contain
				provisions excluding or restricting coverage in the event of intentional and
				self-inflicted injury, foreign travel or residence, flight in non-scheduled
				aircraft, or war or military service.
(2) If more restricted coverage is to be
				provided, there must be an appropriate reduction in the foregoing premium
				standards.
(3) Except in unusual
				cases, such insurance should not be sold to military persons.
33-21-111, MCA; IMP,
					 33-21-205,
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.11 - Credit Life and Disability Insurance › Rule 6.6.1106 - FILING-INSURER'S STATEMENT

Current through Register Vol. 13, July 5, 2024
(1) Any filing made
				pursuant to this sub-chapter shall clearly indicate whether the insurer
				believes that the rates in the filing are within the acceptable rates
				established by this sub-chapter or are higher than those established
				rates.
33-21-111, MCA; IMP,
					 33-21-205,
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.11 - Credit Life and Disability Insurance › Rule 6.6.1107 - REQUESTS FOR HIGHER RATES-APPROVAL BY COMMISSIONER

Current through Register Vol. 13, July 5, 2024
(1) Requests for rates higher than those
				established in this sub-chapter for a debtor or a creditor or a class or
				classes of debtors or creditors will be approved on a satisfactory showing by
				the insurer that, because of the nature of the risk, the mortality or morbidity
				experience which may reasonably be anticipated will be significantly higher
				than the average anticipated experience upon which the applicable rate standard
				was based.
(2) In judging requests
				for higher rates, the commissioner of insurance will consider;
(a) Available mortality and morbidity data
				pertaining to the debtors of a creditor or a class or classes of debtors of a
				creditor;
(b) Previous experience,
				if any, for an actuarially credible period of the creditor's debtors, including
				the experience of any subsidiary or affiliate of the creditor;
(c) Available age data; and
(d) A reasonable rate of expense.
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.11 - Credit Life and Disability Insurance › Rule 6.6.1108 - REFUNDS

Current through Register Vol. 13, July 5, 2024
(1) Section
				33-21-206, MCA, requires that the
				formula to be used in computing refunds be filed with the commissioner of
				insurance.
(2) Any refund formula
				which is at least as favorable to the insured debtor as the "sum of the digits"
				formula (also called the "rule of 78ths") for single premium plans, or pro rata
				for other plans, is acceptable to the commissioner.
(3) A refund or credit need not be made if
				the amount thereof is less than $1.00.
(4) If credit life insurance on a debtor
				terminates prior to expiration of the period for which a charge for such
				insurance has been made to the debtor, by reason of early discharge of
				indebtedness by cash or refinancing, or by payment of a lump sum disability
				insurance claim, or otherwise, except by payment of a death claim under the
				credit life insurance policy, a refund of such charge for insurance shall be
				made to the debtor or credited to his account. If credit accident and health
				insurance on a debtor terminates prior to expiration of the period for which a
				charge for such insurance has been made to the debtor, for any reason
				whatsoever except for payment of a lump sum disability insurance benefit, a
				refund of such charge for insurance shall be made to the debtor, or to his
				beneficiary or estate, as appropriate. In any refinancing or consolidation of
				an indebtedness, no policy provision covering the new indebtedness shall
				operate to deny benefits which would have been payable had the refinancing or
				consolidation not taken place.
Sec.
					 33-21-111, MCA; IMP, Sec.
					 33-21-206,
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.11 - Credit Life and Disability Insurance › Rule 6.6.1109 - CREDITOR-REMITTANCE OF PREMIUMS TO INSURER

Current through Register Vol. 13, July 5, 2024
(1) If
				the creditor adds identifiable insurance charges or premiums for credit
				insurance to the total amount of the indebtedness and makes any direct or
				indirect finance, carrying, credit or service charge whatever to the debtor in
				connection with such insurance charge, the creditor is deemed to have loaned
				the premium or insurance charge to the debtor and the premium or insurance
				charge is deemed collected for the insurer as soon as it is added to the
				indebtedness, in which event, the creditor must remit and the insurer shall
				collect on a single premium basis only. A creditor may remit and an insurer may
				collect premiums for credit life insurance on a monthly balance basis. The
				charge for the premium shall be shown separately from the balance of the loan
				and any payment received by the creditor shall first be applied to pay the
				credit life insurance premium. Only in the event no payment is made or the
				payment made is insufficient to satisfy the premium charge, may the creditor
				add the unpaid premium to the loan and remit it to the insurers. If the premium
				charged by the insurer for group credit life insurance is on the basis of the
				outstanding balances of indebtedness at risk at each premium due date, the
				amount charged to the debtor for such insurance shall not exceed the
				substantial mathematical equivalent of the premiums to be charged for that
				insurance by the insurer, as computed at the time the charge to the debtor is
				determined. Schedules of such permissible charges shall be provided to the
				creditor with instructions on the manner and method such schedules must be used
				to effect compliance with the law.
33-21-111, MCA; IMP,
					 33-21-206,
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.11 - Credit Life and Disability Insurance › Rule 6.6.1110 - DETERMINATION OF REASONABLENESS OF BENEFITS IN RELATION TO PREMIUM CHARGED

Current through Register Vol. 13, July 5, 2024
(1) Benefits provided by credit insurance
				policies must be reasonable in relation to the premium charged. This
				requirement is satisfied if the premium rate charged develops or may be
				reasonably expected to develop a loss ratio of not less than the minimum loss
				ratio required by this rule.
(a) The minimum
				loss ratio is defined as follows:
(i) Credit
				disability insurance - 55%;
(ii)
				Credit life insurance - 38.5%.
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.11 - Credit Life and Disability Insurance › Rule 6.6.1111 - COMPLIANCE - FORMS, CONTRACTS AND RATES

Current through Register Vol. 13, July 5, 2024
(1)
				Forms, contracts and rates used in this state shall comply with the applicable
				provisions of this subchapter.
33-21-111, MCA; IMP,
					 33-21-205 and
					 33-21-206,
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.12 - Discrimination › Rule 6.6.1201 - UNFAIR DISCRIMINATION ON THE BASIS OF BLINDNESS

Current through Register Vol. 13, July 5, 2024
This Rule has been transferred to
				  6.6.2106
33-1-313, MCA; IMP,
					 33-18-206,
					 33-18-210,
					 33-30-306,
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.12 - Discrimination › Rule 6.6.1202 - UNFAIR DISCRIMINATION ON THE BASIS OF SEX OR MARITAL STATUS (REPEALED)

Current through Register Vol. 13, July 5, 2024
33-1-313, MCA; IMP,
					 33-7-519,
					 33-18-206,
					 33-18-210,
					 33-30-306,
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.12 - Discrimination › Rule 6.6.1203 - PROHIBITED PRACTICES (REPEALED)

Current through Register Vol. 13, July 5, 2024
33-1-313, MCA; IMP,
					 33-7-519,
					 33-18-206,
					 33-18-210,
					 33-30-306,
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.13 - Proxies, Consents, and Authorizations Of Domestic Stock Insurers › Rule 6.6.1301 - APPLICABILITY

Current through Register Vol. 13, July 5, 2024
(1) This sub-chapter applies to all domestic
				stock insurers having 100 or more stockholders.
(2) This sub-chapter does not apply to an
				insurer if 95% or more of its stock is owned or controlled by a parent or an
				affiliated insurer and the remaining shares are held by less than 500
				stockholders.
(3) This sub-chapter
				does not apply to a domestic stock insurer which files with the United States
				Securities and Exchange Commission forms of proxies, consents, and
				authorizations complying with the requirements of the Securities and Exchange
				Act of 1934, the Securities and Exchange Act Amendments of 1964, and Regulation
				X-14 of the Securities and Exchange Commission adopted under the Securities and
				Exchange Act.
Sec.
					 33-3-447 MCA; IMP, Sec.
					 33-3-447
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.13 - Proxies, Consents, and Authorizations Of Domestic Stock Insurers › Rule 6.6.1302 - DEFINITIONS

Current through Register Vol. 13, July 5, 2024
As used in this sub-chapter, unless the context indicates
				  otherwise:
(1) "Solicit" and
				"solicitation" include:
(a) Any request for a
				proxy, whether or not accompanied by or included in a form of proxy;
				or
(b) Any request to execute, not
				execute, or revoke a proxy; or
(c)
				The furnishing of a proxy or other communication to stockholders under
				circumstances reasonably calculated to result in the procurement, withholding,
				or revocation of a proxy.
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.13 - Proxies, Consents, and Authorizations Of Domestic Stock Insurers › Rule 6.6.1303 - DISCLOSURE OF EQUIVALENT INFORMATION

Current through Register Vol. 13, July 5, 2024
(1)
				Unless proxies, consents, or authorizations, in respect to stock of a domestic
				insurer subject to this sub-chapter, are solicited by or on behalf of the
				management of the insurer from the holders of record of the stock of the
				insurer, in accordance with the provisions of this sub-chapter and prior to any
				annual or other meeting, the insurer shall, in accordance with this
				sub-chapter, file with the Commissioner of Insurance and transmit to all
				stockholders of record information substantially equivalent to the information
				which would be required to be transmitted if a solicitation were
				made.
Sec.
					 33-3-447 MCA; IMP, Sec.
					 33-3-447
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.13 - Proxies, Consents, and Authorizations Of Domestic Stock Insurers › Rule 6.6.1304 - INFORMATION TO BE FURNISHED TO STOCKHOLDERS

Current through Register Vol. 13, July 5, 2024
(1)
				A solicitation subject to this sub-chapter may not be made unless each person
				solicited is concurrently furnished or has previously been furnished with a
				written proxy statement containing the information specified in ARM
				6.6.1305 through ARM
				6.6.1319.
(2) If the solicitation is made on behalf of
				the management of the insurer and relates to an annual meeting of stockholders
				at which directors are to be elected, each proxy statement, furnished pursuant
				to subsection (1) of this rule, shall be accompanied or preceded by an annual
				report (in preliminary of final form) to the stockholders containing those
				financial statements for the last fiscal year referred to in Schedule SIS of
				the insurer's annual statement under the heading "Financial Reporting to
				Stockholders". Subject to the preceding requirements with respect to financial
				statements, the annual report, stockholders may be in any form considered
				suitable by the management
(3) Two
				copies of each report sent to the stockholders pursuant to this rule shall be
				mailed to the commissioner of insurance not later than the date of which the
				report is first sent or given to stockholders or the date on which preliminary
				copies of solicitation material are filed pursuant to ARM
				6.6.1323(1),
				whichever date is later.
Sec.
					 33-3-447 MCA; IMP, Sec.
					 33-3-447
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.13 - Proxies, Consents, and Authorizations Of Domestic Stock Insurers › Rule 6.6.1305 - PROXY STATEMENTS-REVOCABILITY

Current through Register Vol. 13, July 5, 2024
Each proxy statement shall state whether the person giving
				  the proxy may revoke it. If the right of revocation before the proxy is
				  exercised is limited or is subject to compliance with any formal procedure, the
				  proxy statement shall describe the limitation or procedure.
Sec.
					 33-3-447 MCA; IMP, Sec.
					 33-3-447
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.13 - Proxies, Consents, and Authorizations Of Domestic Stock Insurers › Rule 6.6.1306 - PROXY STATEMENTS-DISSENTERS' RIGHTS OF APPRAISAL

Current through Register Vol. 13, July 5, 2024
(1) Each proxy statement shall outline
				briefly the rights of appraisal or similar rights of dissenting stockholders
				with respect to any matter to be acted upon and shall indicate any statutory
				procedure required to be followed by those stockholders in order to perfect
				their rights.
(2) Where those
				rights may be exercised only within a limited time after the date of the
				adoption of a proposal, the filing of a charter amendment, or other similar
				act, the proxy statement shall state whether the person solicited will be
				notified of that date.
Sec.
					 33-3-447 MCA; IMP, Sec.
					 33-3-447
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.13 - Proxies, Consents, and Authorizations Of Domestic Stock Insurers › Rule 6.6.1307 - PROXY STATEMENTS-INDENTITY OF SOLICITORS AND COST OF SOLICITATION

Current through Register Vol. 13, July 5, 2024
(1) If a solicitation of a proxy is
made by the management of the insurer, the solicitation or
				  proxy statement shall so state. It shall further state the name of any director
				  of the insurer who has informed the management in writing that he intends to
				  oppose any intended action by the management and shall indicate the intended
				  action which is opposed.
(2) If the solicitation is made otherwise
				than by the management of the insurer, the solicitation or proxy statement
				shall state the names and addresses of the persons by whom and on whose behalf
				it is made and the names and addresses of the persons paying, directly or
				indirectly, the cost of the soli-citation.
(3) If the solicitation is to be made by
				specially engaged employees or paid solicitors, the solicitation or proxy
				statement shall state the material features of any contract or arrangement for
				the solicitation and shall identify the parties and the actual or anticipated
				cost of the solicitation.
Sec.
					 33-3-447 MCA; IMP, Sec.
					 33-3-447
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.13 - Proxies, Consents, and Authorizations Of Domestic Stock Insurers › Rule 6.6.1308 - PROXY STATEMENTS-DISCLOSURE OF INTERESTS

Current through Register Vol. 13, July 5, 2024
(1) Each proxy statement shall describe
				briefly any substantial interest, direct or indirect, by stockholdings or
				otherwise, of any director, nominee for election for director, officer and, if
				the solicitation is made otherwise than on behalf of management, each person on
				whose behalf the solicitation is made, in any matter to be acted upon other
				than elections to office.
Sec.
					 33-3-447 MCA; IMP, Sec.
					 33-3-447
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.13 - Proxies, Consents, and Authorizations Of Domestic Stock Insurers › Rule 6.6.1309 - PROXY STATEMENTS-STOCKS AND STOCKHOLDERS ENTITLED TO VOTE

Current through Register Vol. 13, July 5, 2024
(1) Each proxy statement shall state, as to
				each class of voting stock of the insurer entitled to be voted at the meeting,
				the number of shares outstanding and the number of votes to which each class is
				entitled.
(2) The proxy statement
				shall state the date as of which the record list of stockholders entitled to
				vote at the meeting will be determined. if the right to vote is not limited to
				stockholders of record on that date, the proxy statement shall indicate the
				conditions under which other stockholders may be entitled to vote.
(3) If action is to be taken with respect to
				the election of directors and if the persons solicited have cumulative voting
				rights, the proxy statement shall state that they have those rights and shall
				state briefly the conditions precedent to their exercise.
Sec.
					 33-3-447 MCA; IMP, Sec.
					 33-3-447
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.13 - Proxies, Consents, and Authorizations Of Domestic Stock Insurers › Rule 6.6.1310 - PROXY STATEMENTS-ELECTION OF DIRECTORS

Current through Register Vol. 13, July 5, 2024
If action is to be taken with respect to the election of
				  directors, the proxy statement shall furnish the following information in
				  tabular form, to the extent practicable, with respect to each person nominated
				  for election as a director and to each person whose term of office as a
				  director will continue after the meeting:
(1) The name of the person, the date when his
				term of office or the term of office for which he is a nominee will expire, a
				statement of all other positions and offices with the insurer presently held by
				him, and a statement of which persons are nominees for election as directors at
				the meeting;
(2) A statement of the
				person's principal occupation or employment and the name and principal business
				of any corporation or other organization in which that employment is carried
				on, and a statement containing similar information as to all of his principal
				occupations or employers during the last 5 years, unless he is now a director
				and was elected to his present term of office by a vote of stockholders at a
				meeting for which proxies were solicited pursuant to this
				sub-chapter;
(3) If he is or has
				been a director of the insurer, a statement of the period or periods during
				which he served; and
(4) A
				statement, as of the most recent practicable date, of the approximate amount of
				each class of stock of the insurer or any of its parents, subsidiaries, or
				affiliates other than directors' qualifying shares, beneficially owned directly
				or indirectly by him, or, if he is not the beneficial owner of any of those
				stocks, a statement to that effect.
Sec.
					 33-3-447 MCA; IMP, Sec.
					 33-3-447
					 MCA;
Administrative Rules of Montana › Department 6 - STATE AUDITOR › Chapter 6.6 - INSURANCE DEPARTMENT › Subchapter 6.6.13 - Proxies, Consents, and Authorizations Of Domestic Stock Insurers › Rule 6.6.1311 - PROXY STATEMENTS-SCHEDULE SIS INFORMATION

Current through Register Vol. 13, July 5, 2024
(1) The proxy statement shall furnish the
				information reported or required in item 1 of Schedule SIS, of the insurer's
				annual statement filed pursuant to Section
				33-2-701, MCA, under the heading
				"Information Regarding Management and Directors" if action is to be taken with
				respect to:
(a) The election of
				directors;
(b) Any remuneration
				plan, contract or arrangement in which any director, nominee for election as a
				director, or officer of the insurer will participate;
(c) Any pension or retirement plan in which
				any director, nominee for director, or officer of the insurer will participate;
				or
(d) The granting or extension to
				any such person of any options, warrants, or rights to purchase any stocks,
				other than warrants or rights issued to stockholders, as such, on a prorata
				basis.