33-4-401. Surplus funds required. A domestic farm mutual insurer is authorized to transact insurance if it is otherwise in compliance with the applicable provisions of this chapter and if it maintains surplus funds as follows:
(1) if a state mutual insurer or a county mutual insurer that has changed its status to that of a state mutual insurer pursuant to the provisions of 33-4-204, surplus of not less than $200,000; or
(2) if a county mutual insurer, surplus of not less than $50,000.
History: En. Sec. 482, Ch. 286, L. 1959; R.C.M. 1947, 40-4815; amd. Sec. 3, Ch. 228, L. 2001.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 4. Farm Mutual Insurers
33-4-401. Surplus funds required
33-4-402. Members' liability -- limitation
33-4-406. Reserves -- cash premium plan
33-4-407. Profits or dividends
33-4-408. Deficiency of surplus
33-4-410. Losses -- notice -- adjustment
33-4-411. Arbitration -- committee -- compensation
33-4-412. Obligations or assessments due -- losses payable
33-4-413. Suit to collect obligations -- liability of directors or officers