33-11-105. Compulsory associations. (1) A risk retention group may not join or contribute financially to any insurance insolvency guaranty fund or similar mechanism in this state. In addition, a risk retention group or its insureds may not receive any benefit from any guaranty fund for claims arising out of the operations of the risk retention group.
(2) A risk retention group shall participate in this state's joint underwriting associations, mandatory liability pools, and similar mechanisms.
(3) When a purchasing group obtains insurance covering its members' risks from an insurer not authorized in this state or from a risk retention group, the risks, wherever resident or located, may not be covered by any insurance guaranty fund or similar mechanism in this state.
(4) When a purchasing group obtains insurance covering its members' risks from an authorized insurer, only risks resident or located in this state may be covered by the state guaranty fund, subject to Title 33, chapter 10, part 1.
History: En. Sec. 5, Ch. 249, L. 1987; amd. Sec. 56, Ch. 10, L. 1993; amd. Sec. 65, Ch. 596, L. 1993; amd. Sec. 21, Ch. 475, L. 2005; amd. Sec. 1, Ch. 21, L. 2021.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 11. Liability Risk Retention and Purchasing Groups
33-11-103. Chartering -- licensing -- plan of operation
33-11-104. Risk retention groups not chartered in this state
33-11-105. Compulsory associations
33-11-107. Purchasing groups -- exemption from certain laws relating to group purchase of insurance
33-11-108. Notice and registration requirements of purchasing groups
33-11-109. Restriction on insurance purchased by purchasing groups
33-11-110. Taxation of purchasing group
33-11-111. through 33-11-120 reserved
33-11-123. Duty of insurance producers to obtain license
33-11-124. Enforceability of orders issued in United States district court