33-2-304. Surplus lines insurance valid. Insurance contracts procured as surplus lines insurance from unauthorized insurers in accordance with this law shall be fully valid and enforceable as to all parties and shall be given acceptance and recognition in all matters and respects to the same effect as like contracts issued by authorized insurers.
History: En. Sec. 188, Ch. 286, L. 1959; R.C.M. 1947, 40-3413; amd. Sec. 5, Ch. 537, L. 1987.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 2. Regulation of Insurance Companies
Part 3. Authorization of Surplus Lines Insurers, Insurance Producers, and Insurance
33-2-301. Short title -- purpose -- definitions
33-2-302. Home state exclusive authority -- conditions precedent to sale of surplus lines insurance
33-2-303. Filing and endorsement of contract -- submission form
33-2-304. Surplus lines insurance valid
33-2-305. Licensing of surplus lines insurance producer -- license fee
33-2-308. Evidence of insurance -- changes
33-2-309. Liability of insurer as to losses and unearned premiums
33-2-310. Records -- tax and fee statement
33-2-311. Tax on surplus lines insurance
33-2-312. Penalty for failure to file statement, pay tax, or pay stamping fee
33-2-313. Revocation or suspension of license
33-2-314. Actions against insurer -- venue
33-2-318. Exempt commercial purchaser defined
33-2-319. Qualified risk manager defined
33-2-320. Surplus lines insurance producer fee
33-2-321. Stamping fee and clearinghouse processing fee
33-2-323. Authorization for agreements with other state regarding multistate risks