33-4-402. Members' liability -- limitation. All liability of the members of a farm mutual insurer must be as limited in the insurer's bylaws. For insurers transacting business on the cash premium plan, the limitation must comply with 33-4-504(4). A member may not be required to pay more than the full amount of the member's obligation given to the insurer or of the member's liability as provided for in the bylaws.
History: En. Sec. 492, Ch. 286, L. 1959; R.C.M. 1947, 40-4825; amd. Sec. 1151, Ch. 56, L. 2009.
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