Montana Code Annotated
Part 1. Authorization of Insurers
33-2-109. Capital or surplus funds required

33-2-109. Capital or surplus funds required. (1) To qualify for authority to transact any one kind of insurance, as defined in 33-1-205 through 33-1-212, or combinations of kinds of insurance as shown below, an insurer shall possess and maintain unimpaired paid-in capital stock, if a stock insurer, or surplus, if a mutual or foreign reciprocal insurer, in an amount not less than is applicable under the schedules below and shall possess when first authorized to transact insurance any additional funds as surplus as required under 33-2-110:
(a) Kind or kindsMinimum capital or
of insurancesurplus required
Life $200,000
Disability 200,000
Life and disability 300,000
Credit life and disability 50,000
Property 400,000
Marine 400,000
Casualty
All lines, except workers' compensation 400,000
All lines, including workers' compensation 600,000
Surety 500,000
Title 200,000
Multiple lines, two or more of property, marine,
casualty, or surety 800,000
(b) For insurers licensed on or after October 1, 1999:
Kind or kinds Minimum capital or
of insurance surplus required
Life $600,000
Disability 500,000
Life and disability 750,000
Credit life and disability 150,000
Property 500,000
Marine 500,000
Casualty
All lines, except workers' compensation 500,000
All lines, including workers' compensation 750,000
Surety 500,000
Title 500,000
Multiple lines, two or more of property, marine,
casualty, or surety 1,000,000
(2) Surplus requirements for qualification to transact one or more kinds of insurance for domestic mutual insurers are governed by Title 33, chapter 3, and surplus requirements for domestic reciprocal insurers are governed by Title 33, chapter 5.
(3) Capital and surplus requirements must be based upon all the kinds of insurance actually transacted or to be transacted by the insurer in any areas in which it operates, whether or not only a portion of the kinds are to be transacted in this state.
(4) A life insurer may also grant annuities without additional capital or additional surplus.
(5) For a credit life and disability insurer that is not a resident domestic insurer as defined in 33-1-201 and 33-1-202, the capital or surplus required by this section is an amount equal to four times the minimum capital or surplus required for credit life and disability pursuant to subsection (1).
History: En. Sec. 52, Ch. 286, L. 1959; amd. Sec. 1, Ch. 319, L. 1977; R.C.M. 1947, 40-2807(part); amd. Sec. 2, Ch. 303, L. 1981; amd. Sec. 3, Ch. 202, L. 1983; amd. Sec. 12, Ch. 472, L. 1999.