Terms Used In Montana Code 33-11-105

• Insurance: means primary insurance, excess insurance, reinsurance, surplus line insurance, and any other arrangement for shifting and distributing risk that is determined to be insurance under the laws of this state. See Montana Code 33-11-102
• Liability: means legal liability for damages, including costs of defense, legal costs and fees, and other claims expenses, because of injuries to other persons, damage to their property, or other damage or loss to other persons resulting from or arising out of:

  (i)a business, whether profit or nonprofit, trade, product, service (including professional service), premises, or operation; or

  (ii)an activity of any state or local government or an agency or political subdivision of state or local government. See Montana Code 33-11-102

• Purchasing group: means a group that:

  (a)has as one of its purposes the purchase of liability insurance on a group basis;

  (b)purchases liability insurance only for its group members and only to cover their similar or related liability exposure, as described in subsection (7)(c);

  (c)is composed of members whose businesses or activities are similar or related with respect to the liability to which members are exposed by virtue of any related, similar, or common business, trade, product, service, premises, or operation; and

  (d)is domiciled in any state. See Montana Code 33-11-102

• Risk retention group: means a corporation or other limited liability association formed under the laws of any state, Bermuda, or the Cayman Islands:

  (a)whose primary activity consists of assuming and spreading all or any portion of the liability exposure of its group members;

  (b)that is organized for the primary purpose of conducting the activity described under subsection (8)(a);

  (c)(i) that is chartered and licensed as a liability insurance company and authorized to engage in the business of insurance under the laws of any state; or

  (ii)that, before January 1, 1985, was chartered or licensed and authorized to engage in the business of insurance under the laws of Bermuda or the Cayman Islands and, before that date, had certified to the insurance regulatory official of at least one state that it satisfied the capitalization requirements of that state. See Montana Code 33-11-102

• State: means any state of the United States or the District of Columbia. See Montana Code 33-11-102