33-16-1022. Dividends -- regulation or prohibition. (1) An advisory organization may not adopt a rule that would regulate or prohibit the payment of dividends, savings, or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members, or subscribers.
(2) A plan for the payment of dividends, savings, or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members, or subscribers is not a rating plan or system. A plan for the payment of dividends, savings, or unabsorbed premium deposits does not relieve an insurer from complying with any requirement of this chapter regarding rating plans or systems.
(3) It is an unfair trade practice under 33-18-1003 to make the payment of a dividend or any portion of it conditioned upon renewal of the policy or contract.
History: En. Sec. 4, Ch. 186, L. 1995; amd. Sec. 30, Ch. 472, L. 1999.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 16. Rates -- Rating and Advisory Organizations
Part 10. Workers' Compensation Rates and Advisory Organizations
33-16-1001. Declaration of policy and purpose
33-16-1002. Applicability of part
33-16-1003. Certain reciprocal insurers excluded
33-16-1007. Renumbered 33-16-1011
33-16-1009. and 33-16-1010 reserved
33-16-1011. Classification review committee -- membership -- term
33-16-1012. Functions and powers of classification review committee -- hearings -- rulemaking
33-16-1013. through 33-16-1019 reserved
33-16-1020. Competitive market -- hearing
33-16-1021. Ratemaking standards -- review by commissioner
33-16-1022. Dividends -- regulation or prohibition
33-16-1023. Membership in advisory organization
33-16-1027. Rate filing review
33-16-1028. Improper rates -- hearing
33-16-1029. Restrictions on certain insurers -- waiting period
33-16-1030. Delay of rates in noncompetitive market
33-16-1032. Acts reducing competition prohibited
33-16-1033. Advisory organization -- permitted activity
33-16-1034. Advisory organization -- prohibited activity