Terms Used In Montana Code 33-28-205

• Affiliated company: means any company in the same corporate system as a parent, an industrial insured, or a member by virtue of common ownership, control, operation, or management. See Montana Code 33-28-101
• Association: means any legal association of sole proprietorships or business entities that has been in continuous existence for at least 1 year unless the 1-year requirement is waived by the commissioner and the members of which collectively, or the association itself:

  (a)owns, controls, or holds with power to vote all of the outstanding voting securities of an association captive insurance company incorporated as a stock insurer;

  (b)has complete voting control over an association captive insurance company incorporated as a mutual insurer;

  (c)constitutes all of the subscribers of an association captive insurance company formed as a reciprocal insurer; or

  (d)owns, controls, or holds with power to vote all of the outstanding ownership interests of an association captive insurance company organized as a limited liability company. See Montana Code 33-28-101

• Captive insurance company: means any pure captive insurance company, association captive insurance company, protected cell captive insurance company, special purpose captive insurance company, or industrial insured captive insurance company formed or authorized under the provisions of this chapter. See Montana Code 33-28-101
• Member: means a sole proprietorship or business entity that belongs to an association. See Montana Code 33-28-101
• Parent: means a sole proprietorship, business entity, or individual that directly or indirectly owns, controls, or holds with power to vote more than 50% of the outstanding voting securities of a captive insurance company. See Montana Code 33-28-101
• 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