Montana § 33-2-1359 - Setoffs
Full text of Montana Montana Code Annotated § 33-2-1359 — Setoffs, with citation guidance and answers to common questions.
§ 33-2-1359. Setoffs
Setoffs. (1) Mutual debts or mutual credits between the insurer and another person in connection with any action or proceeding under this part must be set off and the balance only allowed or paid, except as provided in 33-2-1362 and subsection (2) of this section. (2) A setoff may not be allowed in favor of any person when: (a) the obligation of the insurer to the person would not at the date of the filing of a petition for liquidation entitle the person to share as a claimant in the assets of the insurer; (b) the obligation of the insurer to the person was purchased by or transferred to the person with a view to its being used as a setoff; or (c) the obligation of the person is to pay an assessment levied against the members or subscribers of the insurer or is to pay a balance upon a subscription to the capital stock of the insurer or is in any other way in the nature of a capital contribution.
Frequently Asked Questions About Montana § 33-2-1359
What does Montana Code Annotated § 33-2-1359 cover?
Section 33-2-1359 ("Setoffs") is part of the Montana Code Annotated, the codified statutory law of Montana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Montana § 33-2-1359?
A common citation format is "Montana Code Annotated § 33-2-1359" (Montana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 33-2-1359 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Montana.