33-23-217. Return of unearned premiums. If an insurer cancels a motor vehicle policy covering a commercial or private motor vehicle for nonpayment of a premium, the insurer shall process the cancellation on a pro rata basis. The insurer shall return whatever gross unearned premium is due under the motor vehicle policy to the insured. For purposes of this section, the term "unearned premium" means that part of the original premium, including deposits, not yet earned by the insurer and therefore due the insured if the policy is canceled.
History: En. Sec. 1, Ch. 121, L. 1987.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 23. Casualty Insurance
Part 2. Motor Vehicle Liability
33-23-202. Reimbursement for total loss of motor vehicle based on actual replacement value
33-23-203. Limitation of liability under motor vehicle liability policy
33-23-205. through 33-23-210 reserved
33-23-211. Limitations on basis for cancellation
33-23-213. Notice to insured of ground for cancellation -- commissioner to ensure compliance
33-23-214. Advance notice required for nonrenewal -- exceptions
33-23-215. No liability for statements in connection with cancellation or nonrenewal
33-23-216. Retention and proof of notice
33-23-217. Return of unearned premiums
33-23-218. through 33-23-220 reserved
33-23-222. Telematics agreement disclosures
33-23-223. Insurer obligations for telematics agreement -- termination