Montana Code 25-9-406. Failure to pay — penalty
Current as of: 2023 | Check for updates
|
Other versions
25-9-406. Failure to pay — penalty. If the court finds that the insurer that sold the annuity to the judgment debtor has unjustifiably exhibited a continuing pattern of failing to make periodic payments, the court shall find the insurer in contempt of court and order the insurer to pay past-due payments and the judgment creditor’s damages caused by the failure to make payments, including court costs and attorney fees.
Terms Used In Montana Code 25-9-406
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.