Montana Code 33-4-102. Definitions
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33-4-102. Definitions. (1) A “county mutual insurer” is a farm mutual insurer authorized to insure property and liability risks located in the county in which its principal office is located and in the counties in this state with boundaries contiguous with the principal office county.
Terms Used In Montana Code 33-4-102
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Property: means real and personal property. See Montana Code 1-1-205
- 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)A “farm mutual insurer” is an insurer that meets the qualifications of 33-4-101(1).
(3)A “state mutual insurer” is a farm mutual insurer authorized to insure property and liability risks throughout the state.
(4)”Surplus” is the extent to which the value of an insurer’s assets exceeds its liabilities.