33-5-411. Subscribers' share in assets. Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharge of its indebtedness and policy obligations, the return of any contributions of the attorney or other persons to its surplus made as provided in 33-5-402, and the return of any unused premium, savings, or credits then standing on subscribers' accounts shall be distributed to its subscribers who were such within the 12 months prior to the last termination of its certificate of authority, according to such reasonable formula as the commissioner may approve.
History: En. Sec. 563, Ch. 286, L. 1959; R.C.M. 1947, 40-5026.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 5. Reciprocal Insurers
33-5-401. Surplus funds required
33-5-402. Contributions to insurer
33-5-403. Financial condition -- method of determining
33-5-404. Subscribers' liability
33-5-405. Subscribers' liability on judgment
33-5-407. Time limit for assessments
33-5-409. Nonassessable policies
33-5-410. Distribution of savings
33-5-411. Subscribers' share in assets