33-10-103. Creation of the association. There is created a nonprofit unincorporated legal entity to be known as the Montana insurance guaranty association. All insurers defined as member insurers shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under 33-10-106 and shall exercise its powers through a board of directors established under 33-10-104.
History: En. Sec. 6, Ch. 63, L. 1971; R.C.M. 1947, 40-5706.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 10. Insurance Guaranty Associations
Part 1. Casualty and Property Insurance Guaranty Associations
33-10-101. Short title, purpose, scope, and construction
33-10-103. Creation of the association
33-10-104. Board of directors -- commissioner approval -- compensation
33-10-105. General powers and duties
33-10-106. Plan of operation -- delegation to other organization
33-10-108. Prevention of insolvencies -- directors' and commissioner's action
33-10-109. Notice of insolvencies -- suspension -- other powers and duties of commissioner
33-10-111. Stay of proceedings -- reopening of default judgments
33-10-112. Examination of association
33-10-114. Claims -- effect as to insured and receiver