33-4-506. Members -- minimum membership. (1) A person may not become a member of a farm mutual insurer except by insuring property owned by the person insurable under this chapter.
(2) The membership of an insurer consists of the persons lawfully insuring in the insurer.
(3) The total membership of the insurer must at all times be not less than the number of persons required by 33-4-201 to incorporate an insurer.
History: En. Sec. 487, Ch. 286, L. 1959; R.C.M. 1947, 40-4820; amd. Sec. 1153, Ch. 56, L. 2009.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 4. Farm Mutual Insurers
33-4-501. Insuring powers in general
33-4-502. Limit of risk -- retention of liability
33-4-504. Cash premium or assessment plans
33-4-505. Certificate of authority required -- issuance -- continuation -- fee
33-4-506. Members -- minimum membership
33-4-507. Withdrawal of member -- cancellation by insurer
33-4-508. Application for insurance
33-4-509. Application and policy forms filed with commissioner
33-4-510. Rates -- filing -- discrimination
33-4-511. Insurance of schools, community houses, and churches
33-4-512. through 33-4-520 reserved