Montana Code 33-4-506. Members — minimum membership
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33-4-506. Members — minimum membership. (1) A person may not become a member of a farm mutual insurer except by insuring property owned by the person insurable under this chapter.
Terms Used In Montana Code 33-4-506
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Property: means real and personal property. See Montana Code 1-1-205
(2)The membership of an insurer consists of the persons lawfully insuring in the insurer.
(3)The total membership of the insurer must at all times be not less than the number of persons required by 33-4-201 to incorporate an insurer.