Montana Code 33-28-110. Excess workers’ compensation insurance — reinsurance of self-insured plans
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33-28-110. Excess workers’ compensation insurance — reinsurance of self-insured plans. (1) A captive insurance company may provide excess workers’ compensation insurance to its parent and affiliated companies, unless the laws of the state having jurisdiction over the transaction prohibit providing the insurance.
Terms Used In Montana Code 33-28-110
- Captive insurance company: means any pure captive insurance company, association captive insurance company, protected cell captive insurance company, special purpose captive insurance company, or industrial insured captive insurance company formed or authorized under the provisions of this chapter. See Montana Code 33-28-101
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Parent: means a sole proprietorship, business entity, or individual that directly or indirectly owns, controls, or holds with power to vote more than 50% of the outstanding voting securities of a captive insurance company. See Montana Code 33-28-101
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(2)A captive insurance company may reinsure workers’ compensation of a qualified self-insured plan of its parent and affiliated companies.