Montana § 33-3-414 - Nonassessable Policies Of Mutual Insurers
Full text of Montana Montana Code Annotated § 33-3-414 — Nonassessable Policies Of Mutual Insurers, with citation guidance and answers to common questions.
§ 33-3-414. Nonassessable Policies Of Mutual Insurers
Nonassessable policies of mutual insurers. (1) While possessing surplus funds in amount not less than the paid-in capital stock required of a domestic stock insurer transacting like kinds of insurance, a domestic mutual insurer may, upon receipt of the commissioner's order so authorizing, extinguish the contingent liability of its members as to all its policies in force and may omit provisions imposing contingent liability in all its policies currently issued. (2) A foreign or alien mutual insurer may issue nonassessable policies to its members in this state pursuant to its articles of incorporation and the laws of its domicile. (3) No policy of a domestic mutual insurer which, pursuant to the commissioner's order, is without contingent liability and thereby nonassessable by its terms shall be subject to assessment for any debt or liability of the insurer.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 33-3-414
What does Montana Code Annotated § 33-3-414 cover?
Section 33-3-414 ("Nonassessable Policies Of Mutual Insurers") 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 § 33-3-414?
A common citation format is "Montana Code Annotated § 33-3-414" (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 § 33-3-414 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.