33-22-1309. Association administrator. (1) The board shall select an administrator, who is either an employee of the nonprofit association or an independent contractor, to administer the reinsurance program pursuant to the parameters decided by the board of directors. The board shall establish qualifications and compensation in the plan of operation for the administrator and the length of the contract of an independent contractor.

Ask an insurance law question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Montana Code 33-22-1309

  • Association: means the Montana reinsurance association provided for in this part. See Montana Code 33-22-1303
  • Board: means the association's board of directors provided for in 33-22-1306. See Montana Code 33-22-1303
  • Contract: A legal written agreement that becomes binding when signed.
  • Program: means the Montana reinsurance program operated by the Montana reinsurance association. See Montana Code 33-22-1303

(2)The administrator shall:

(a)perform all administrative functions relating to the association;

(b)submit regular reports to the board regarding the operation of the association. The frequency, content, and form of the reports must be set forth in the plan of operation.

(c)pay reinsurance claims as provided for in the plan of operation.