Montana Code 33-10-215. Duties and powers of commissioner
33-10-215. Duties and powers of commissioner. (1) In addition to the duties and powers enumerated elsewhere in this part, the commissioner shall:
Terms Used In Montana Code 33-10-215
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Association: means the Montana life and health insurance guaranty association created under 33-10-203. See Montana Code 33-10-202
- Insolvent insurer: means a member insurer that is placed under an order of liquidation by a court of competent jurisdiction upon a finding of insolvency. See Montana Code 33-10-202
- 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.
- Member insurer: means an insurer, health service corporation, or health maintenance organization that is licensed or that holds a certificate of authority to transact any kind of insurance in this state for which coverage is provided under this part and includes any insurer, health service corporation, or health maintenance organization whose license or certificate of authority in this state may have been suspended, revoked, not renewed, or voluntarily withdrawn. See Montana Code 33-10-202
- Premiums: means the amount or consideration received on covered policies or contracts less return premiums, considerations, and deposits, and less dividends and experience credits. See Montana Code 33-10-202
- State: means a state, the District of Columbia, the Commonwealth of Puerto Rico, or a United States possession, territory, or protectorate. See Montana Code 33-10-202
(a)notify the board of directors of the existence of an impaired or insolvent insurer after an order of impairment or insolvency is entered or the commissioner receives notice of impairment or insolvency;
(b)upon request of the board of directors, provide the association with a statement of the premiums in the appropriate states for each member insurer;
(c)when an impairment or insolvency is declared and the amount of the impairment or insolvency is determined, serve a demand upon the impaired or insolvent insurer to make good the impairment or insolvency within a reasonable time. Notice to the impaired or insolvent insurer constitutes notice to its shareholders, if any. The failure of the insurer to promptly comply with the demand does not excuse the association from the performance of its powers and duties under this part.
(2)The commissioner may suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any member insurer that fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative, the commissioner may levy a fine on any member insurer that fails to pay an assessment when due. The fine may not exceed 5% of the unpaid assessment per month, except that the fine may not be less than $100 per month.
(3)A final action of the board of directors may be appealed to the commissioner by a member insurer if the appeal is taken within 60 days of the member insurer’s receipt of notice of the final action being appealed. A final action or order of the commissioner is subject to judicial review in a court of competent jurisdiction in accordance with the laws of this state that apply to the actions or orders of the commissioner.
(4)The liquidator, rehabilitator, or conservator of an impaired or insolvent insurer may notify all affected persons of the effect of this part.