Montana Code 33-10-117. Recognition of assessments in rates
33-10-117. Recognition of assessments in rates. The rates and premiums charged for insurance policies to which this part applies shall include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer less any amounts returned to the member insurer by the association, and such rates shall not be deemed excessive because they contain an amount reasonably calculated to recoup assessments paid by the member insurer.
Terms Used In Montana Code 33-10-117
- Association: means the Montana insurance guaranty association created under 33-10-103. See Montana Code 33-10-102
- Member insurer: means a person who:
(a)writes any kind of insurance to which this part applies under 33-10-101(3), including the exchange of reciprocal or interinsurance contracts; and
(b)is licensed to transact insurance in this state. See Montana Code 33-10-102