Montana Title 20. Education § 20-25-1310. Alternatives to conventional insurance for providing employee group benefits--requirements

(a) maintain an alternative group benefits plan on an actuarially sound basis;

(b) maintain reserves sufficient to liquidate the unrevealed claims liability and other liabilities of an alternative group benefits plan; and

(c) deposit all reserve funds, state contributions, interest earnings, and premiums paid to an alternative group benefits plan. The deposits must be expended for claims under the alternative plan and for costs for administering the alternative plan, including the costs of hiring consultants, actuaries, and auditors.