Terms Used In Montana Code 33-28-303

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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
• Protected cell: means a separate account established by a protected cell captive insurance company formed or authorized under the provisions of this chapter, in which an identified pool of assets and liabilities are segregated and insulated, as provided in this chapter, from the remainder of the protected cell captive insurance company's assets and liabilities in accordance with the terms of one or more participant contracts to fund the liability of the protected cell captive insurance company with respect to the participants as set forth in the participant contracts. See Montana Code 33-28-101
• Protected cell captive insurance company: means any captive insurance company:

  (a)in which the minimum capital and surplus required by applicable law are provided by one or more sponsors;

  (b)that is formed or authorized under the provisions of this chapter;

  (c)that insures the risks of separate participants through participant contracts;

  (d)that funds its liability to each participant through one or more protected cells and segregates the assets of each protected cell from the assets of other protected cells and from the assets of the protected cell captive insurance company's general account; and

  (e)that is incorporated or formed as a limited liability company. See Montana Code 33-28-101