Montana § 33-5-401 - Surplus Funds Required
Full text of Montana Montana Code Annotated § 33-5-401 — Surplus Funds Required, with citation guidance and answers to common questions.
§ 33-5-401. Surplus Funds Required
Surplus funds required. (1) A domestic reciprocal insurer subject to this part, if it has otherwise complied with the applicable provisions of this code, may be authorized to transact insurance if it has and maintains surplus funds as follows: (a) to transact property insurance, surplus funds of not less than $500,000; (b) to transact casualty insurance: (i) including authority for workers' compensation insurance, surplus funds of not less than $750,000; or (ii) excluding authority for workers' compensation insurance, surplus funds of not less than $500,000. (2) In addition to surplus funds required to be maintained under subsection (1), the insurer must have, when first authorized, expendable surplus in the same amount as required of a like foreign reciprocal insurer under 33-2-110 . (3) A domestic reciprocal insurer may be authorized to transact additional kinds of insurance if it has otherwise complied with the provisions of this code for the additional kinds of insurance and maintains surplus funds in an amount equal to the minimum capital stock required of a stock insurer for authority to transact a like combination of kinds of insurance.
Frequently Asked Questions About Montana § 33-5-401
What does Montana Code Annotated § 33-5-401 cover?
Section 33-5-401 ("Surplus Funds Required") 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 § 33-5-401?
A common citation format is "Montana Code Annotated § 33-5-401" (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 § 33-5-401 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.