33-2-202. Required deposit of assets. (1) An alien insurer may use Montana as a state of entry to transact insurance in the United States by making and maintaining in this state a deposit of assets in trust with a solvent bank or trust company approved by the commissioner.
(2) The deposit, together with other trust deposits of the insurer held in the United States for the same purpose, must be in amount not less than the deposits required of an alien insurer under 33-2-111(1) and must consist of cash and securities of the same character and diversification as those eligible for the investment of the funds of domestic insurers under chapter 12.
(3) A deposit under this section may be referred to as "trusteed assets".
History: En. Sec. 600, Ch. 286, L. 1959; R.C.M. 1947, 40-5202; amd. Sec. 37, Ch. 304, L. 1999.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 2. Regulation of Insurance Companies
Part 2. State of Entry -- Trusteed Assets of Alien Insurers
33-2-202. Required deposit of assets
33-2-204. Purpose and duration
33-2-205. Trust agreement -- approval
33-2-206. Authority to execute trust agreement
33-2-207. Amendment of trust agreement
33-2-208. Withdrawal of approval
33-2-209. Title to trusteed assets
33-2-210. Assets kept separate
33-2-211. Statement of trustee
33-2-212. Examination of assets
33-2-213. Withdrawal of assets