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Current as of January 01, 2024 | Updated by Findlaw Staff
If the aggregate whole amount of the members' obligations to an insurer transacting business on the assessment plan are insufficient to pay all valid claims for losses under the insurer's contracts of insurance after necessary expenses in any one year, then such claimants insured by the insurer shall receive their proportionate share of the funds realized from such obligations in full satisfaction of such losses.
Cite this article: FindLaw.com - Montana Title 33. Insurance and Insurance Companies § 33-4-414. Proportionate payment of losses - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-33-insurance-and-insurance-companies/mt-st-33-4-414/
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