Montana Code 39-71-2201. Election to be bound by plan — captive reciprocal insurers

39-71-2201. Election to be bound by plan — captive reciprocal insurers. (1) Any employer except those specified in 39-71-403 may, by filing an election to become bound by compensation plan No. 2, insure the employer’s liability to pay the compensation and benefits provided by this chapter with any insurance company authorized to transact such business in this state.

Ask a workers compensation law question, get an answer ASAP!
Thousands of highly rated, verified workers compensation lawyers.
Claims, medical treatment, disability payments, termination, and more.
Get help with workers' comp forms, benefits, or employers' responsibilities
Click here to chat with a lawyer about your rights.

Terms Used In Montana Code 39-71-2201

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)Any employer electing to become bound by compensation plan No. 2 shall make the election on the form and in the manner prescribed by the department.

(3)A captive reciprocal insurer established by or on behalf of an employer or a group of employers is considered to be a compensation plan No. 2 insurer. Pursuant to 33-28-205, a captive reciprocal insurer may not be a member of an insurance guaranty association or guaranty fund.

Part 22 Contents