Montana Code 39-71-920. Concurrence of fund in settlements
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39-71-920. Concurrence of fund in settlements. (1) Petitions for compromise settlements that potentially involve payments from the fund must have written concurrence by an authorized representative of the fund prior to submission for department approval.
Terms Used In Montana Code 39-71-920
- Fund: means the subsequent injury fund in the proprietary fund category. See Montana Code 39-71-901
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(2)The failure to receive written concurrence from the fund’s representative relieves the fund of any liability for payment of benefits for a compromise settlement, and the obligation to pay remains with the insurer.