33-15-1104. Anniversary cancellation -- anniversary rate increases. (1) An insurer may issue a policy for a term longer than 1 year or for an indefinite term if the policy contains a clause that allows cancellation by the insurer if the insurer gives notice 45 days prior to an anniversary date.
(2) If a policy has been issued for a term longer than 1 year and for additional premium consideration an annual premium has been guaranteed, the insurer may not increase the annual premium for the term of that policy.
History: En. Sec. 4, Ch. 120, L. 1987; amd. Sec. 1, Ch. 339, L. 2003.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 15. The Insurance Contract
Part 11. Property or Casualty Insurance -- Premium Changes, Cancellation, and Claim Information
33-15-1101. Purpose -- applicability
33-15-1103. Midterm cancellation
33-15-1104. Anniversary cancellation -- anniversary rate increases
33-15-1105. Nonrenewal -- renewal premium
33-15-1106. Renewal with altered terms
33-15-1107. Information about grounds for nonrenewal
33-15-1108. Limitation on midterm premium increases
33-15-1109. and 33-15-1110 reserved
33-15-1111. Home owner insurance not affected by day-care operations
33-15-1112. through 33-15-1120 reserved
33-15-1121. Unfair trade practices
33-15-1122. through 33-15-1125 reserved
33-15-1126. Disclosure of certain claim information on insurance policies