Montana Code Annotated
Part 4. Finance
33-3-441. Equity securities of domestic stock insurance company -- statement of ownership

33-3-441. Equity securities of domestic stock insurance company -- statement of ownership. (1) When used in 33-3-441 through 33-3-447, the term "equity security" means:
(a) any stock or similar security;
(b) any security convertible, with or without consideration, into an equity security or carrying any warrant or right to subscribe to or purchase an equity security;
(c) any warrant or right described in subsection (1)(b); or
(d) any other security that the commissioner considers to be of a similar nature and considers necessary or appropriate, by rules as the commissioner may prescribe in the public interest or for the protection of investors, to treat as an equity security.
(2) A domestic stock insurance company shall report to the commissioner the name of any person who acquires 10% or more of any class of equity security of the company. The company shall report the name of the person within 30 days of the person acquiring 10% or more of any class of equity security of the company. The company shall provide any other information about the person that the commissioner may require.
(3) If a person has not acquired at least a 10% interest of any class of equity security of a domestic stock insurance company during the last calendar year preceding the annual statement filing date, the company is only required to report in the annual statement the names and percentages of those persons holding at least 10% interest in any class of equity security.
History: En. Secs. 1, 6, Ch. 159, L. 1965; R.C.M. 1947, 40-4751, 40-4756; amd. Sec. 14, Ch. 380, L. 2003.

Structure Montana Code Annotated

Montana Code Annotated

Title 33. Insurance and Insurance Companies

Chapter 3. Domestic Stock and Mutual Insurers

Part 4. Finance

33-3-401. Home office and records -- administrative or civil penalty for unlawful removal of records or assets

33-3-402. Vouchers for expenditures

33-3-403. through 33-3-410 reserved

33-3-411. Contingent liability of mutual members

33-3-412. Levy of contingent liability

33-3-413. Enforcement of contingent liability

33-3-414. Nonassessable policies of mutual insurers

33-3-415. Insufficient reserves -- nonassessable policies prohibited -- revocation of authority

33-3-416. through 33-3-420 reserved

33-3-421. Participating policies

33-3-422. Dividends to stockholders

33-3-423. Dividends to mutual policyholders

33-3-424. Illegal dividends -- administrative or civil penalty

33-3-425. through 33-3-430 reserved

33-3-431. Borrowed surplus

33-3-432. Impairment of capital or assets

33-3-433. Assessment of stockholders or members

33-3-434. Directors' liability for losses during deficiency

33-3-435. Stock transfer during impairment of capital

33-3-436. Mutual member's share of assets on liquidation

33-3-437. through 33-3-440 reserved

33-3-441. Equity securities of domestic stock insurance company -- statement of ownership

33-3-442. Inside trading of securities -- profit inures to company -- limitation of action to recover -- rules

33-3-443. Short sales of equity securities prohibited -- time for delivery after sale

33-3-444. Exemptions -- securities held in an investment account -- primary or secondary market -- rules

33-3-445. Exemptions -- arbitrage transactions

33-3-446. Exemptions -- registered securities -- holding by less than 100 persons

33-3-447. Rules of commissioner -- classifications -- effect

33-3-448. and 33-3-449 reserved

33-3-450. Purpose

33-3-451. Definitions

33-3-452. Use of book-entry systems -- rules

33-3-453. Deposit of securities by insurance companies