Mont. Code Ann. § 33-2-1211
This is the official text of Mont. Code Ann. § 33-2-1211, part of Montana’s Code Ann — part of the compiled statutory law of Montana, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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33-2-1211 Bulk reinsurance -- stock insurers
Official statutory text
33-2-1211 . Bulk reinsurance -- stock insurers. (1) A domestic stock insurer may reinsure all or substantially all of its insurance in force or a major class of insurance with another insurer by an agreement of bulk reinsurance, but the agreement may not become effective unless filed with the commissioner and approved by the commissioner in writing after a hearing on the agreement.
(2) The commissioner shall approve an agreement within a reasonable time after filing unless the commissioner finds that it is inequitable to the stockholders of the domestic insurer or would substantially reduce the protection or service to its policyholders. If the commissioner does not approve the agreement, the commissioner shall notify the insurer in writing specifying the reasons for disapproval.
(2) The commissioner shall approve an agreement within a reasonable time after filing unless the commissioner finds that it is inequitable to the stockholders of the domestic insurer or would substantially reduce the protection or service to its policyholders. If the commissioner does not approve the agreement, the commissioner shall notify the insurer in writing specifying the reasons for disapproval.
Status: in_force · Read it on the official government site
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