Montana Code 33-22-1302. Reinsurance association — mandatory membership — exceptions
33-22-1302. Reinsurance association — mandatory membership — exceptions. (1) The Montana reinsurance association is established as a nonprofit legal entity. As a condition of doing business, an insurer that has issued or renewed disability insurance, as defined in 33-1-207, regardless of license type, in this state in the past 12 months must be a member of the association.
Terms Used In Montana Code 33-22-1302
- Association: means the Montana reinsurance association provided for in this part. See Montana Code 33-22-1303
- 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)Disability insurers are exempt from the requirement to be association members and are not subject to the assessment in 33-22-1313 if the insurers solely issue or administer one or more of the following coverage types under the Montana Insurance Code:
(a)self-funded multiple employer welfare arrangements licensed under chapter 35;
(b)disability insurance sold through a fraternal benefit society as described in chapter 7;
(c)excepted benefits as defined in 33-22-140;
(d)long-term care insurance as described in chapter 22, part 11; or
(e)disability income insurance as defined in 33-1-235.