Sections
Part 1 General Provisions § 7-3-101 – § 7-3-193
Part 2 Commission-Executive Government § 7-3-201 – § 7-3-224
Part 3 Commission-Manager Government § 7-3-301 – § 7-3-318
Part 4 Commission Government § 7-3-401 – § 7-3-442
Part 5 Commission-Presiding Officer Government § 7-3-501 – § 7-3-517
Part 6 Town Meeting Government § 7-3-601 – § 7-3-613
Part 7 Charter Government § 7-3-701 – § 7-3-709
Part 11 City-County Consolidation — Option 1 § 7-3-1101 – § 7-3-1105
Part 12 City-County Consolidation — Option 2 § 7-3-1201 – § 7-3-1271
Part 13 City-County Consolidation — Option 2 Continued § 7-3-1301 – § 7-3-1348
Part 41 Strong Mayor Municipal Government § 7-3-4101 – § 7-3-4102
Part 42 Municipal Commission Government § 7-3-4201 – § 7-3-4267
Part 43 Municipal Commission-Manager Government § 7-3-4301 – § 7-3-4374
Part 44 Municipal Commission-Manager Government Continued § 7-3-4401 – § 7-3-4466

Terms Used In Montana Code > Title 7 > Chapter 3 - Alternative Forms of Local Government

  • Abstract: means a written representation, provided pursuant to a contract and expected to be relied upon by the person who has contracted for the receipt of that representation, listing all recorded conveyances, instruments, or documents which, under the laws of this state, impart constructive notice regarding the chain of title to real property described in the abstract. See Montana Code 33-25-105
  • Acceptable collateral: means :

    (a) (i) as to securities lending transactions and for the purpose of calculating the counterparty exposure amount, cash, cash equivalents, letters of credit, or direct obligations of or securities that are fully guaranteed as to principal and interest by the government of the United States, by any agency of the United States, by the federal national mortgage association, or by the federal home loan mortgage corporation; and

    (ii) as to lending foreign securities, sovereign debt rated 1 by the SVO;

    (b) as to repurchase transactions, cash, cash equivalents, and direct obligations of or securities that are fully guaranteed as to principal and interest by the government of the United States, by an agency of the United States, by the federal national mortgage association, or by the federal home loan mortgage corporation; and

    (c) as to reverse repurchase transactions, cash and cash equivalents. See Montana Code 33-12-102

  • Acceptable private mortgage insurance: means insurance written by a private insurer protecting a mortgage lender against loss occasioned by a mortgage loan default and issued by a licensed mortgage insurance company, with an SVO 1 designation or a rating issued by a nationally recognized statistical rating organization equivalent to an SVO 1 designation, that covers losses up to an 80% loan-to-value ratio. See Montana Code 33-12-102
  • Accepted actuarial standards: means the standards adopted by the casualty actuarial society in its Statement of Principles Regarding Property and Casualty Insurance Ratemaking and the Standards of Practice adopted by the actuarial standards board. See Montana Code 33-16-1008
  • Accident and health insurance: means insurance protection that provides payment of benefits for covered sickness or accidental injury, excluding credit insurance, disability insurance, accidental death and dismemberment insurance, and long-term care insurance. See Montana Code 33-12-102
  • Accident and health insurance: means contracts that incorporate morbidity risk and provide protection against economic loss resulting from accident, sickness, or medical conditions. See Montana Code 33-2-402
  • Accident and health insurer: means a licensed life or health insurer or health service corporation whose insurance premiums and required statutory reserves for accident and health insurance constitute at least 95% of total premium considerations or total statutorily required reserves. See Montana Code 33-12-102
  • Account: means either of the two accounts created under 33-10-203. See Montana Code 33-10-202
  • Accountable care organization: means a group of health care providers that are willing and capable of accepting accountability for the total cost and quality of care for a defined population. See Montana Code 33-31-102
  • Acquittal:
    1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
    2. A verdict of "not guilty."
     
  • act: means the Montana Health and Economic Livelihood Partnership Act provided for in Title 53, chapter 6, part 13, and this chapter. See Montana Code 39-12-102
  • Activities of daily living: means :

    (a) eating;

    (b) toileting;

    (c) transferring;

    (d) bathing;

    (e) dressing; and

    (f) continence. See Montana Code 33-22-1107

  • Actuarial certification: means a written statement by a member of the American academy of actuaries or other individual acceptable to the commissioner that a small employer carrier is in compliance with the provisions of 33-22-1809, based upon the person's examination, including a review of the appropriate records and of the actuarial assumptions and methods used by the small employer carrier in establishing premium rates for applicable health benefit plans. See Montana Code 33-22-1803
  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • Adjuster: means a person who, on behalf of the insurer, for compensation as an independent contractor or as the employee of an independent contractor or for a fee or commission investigates and negotiates the settlement of claims arising under insurance contracts or otherwise acts on behalf of the insurer. See Montana Code 33-17-102
  • Adjuster license: means a document issued by the commissioner that authorizes a person to act as an adjuster or a public adjuster. See Montana Code 33-17-102
  • Administrator: has the meaning provided for in 33-17-102(3). See Montana Code 33-38-102
  • Administrator: means an administrator as defined in 33-17-102. See Montana Code 33-17-1401
  • Administrator: means a person who collects charges or premiums from residents of this state in connection with life, disability, property, or casualty insurance or annuities or who adjusts or settles claims on these coverages. See Montana Code 33-17-102
  • Admitted assets: means , subject to subsection (5)(b), assets determined in accordance with the requirements of 33-2-501. See Montana Code 33-12-102
  • Adverse underwriting decision: means any of the following actions with respect to insurance transactions involving insurance coverage that are individually underwritten:

    (i) a declination of insurance coverage;

    (ii) a termination of insurance coverage;

    (iii) failure of an insurance producer to apply for insurance coverage with a specific insurance institution that the insurance producer represents and that is requested by an applicant;

    (iv) in the case of a property or casualty insurance coverage:

    (A) placement by an insurance institution or insurance producer of a risk with a residual market mechanism, an unauthorized insurer, or an insurance institution that specializes in substandard risks; or

    (B) the charging of a higher rate on the basis of information that differs from that which the applicant or policyholder furnished;

    (v) in the case of a life, health, or disability insurance coverage, an offer to insure at higher than standard rates. See Montana Code 33-19-104

  • Advisory organization: means a person or organization that either has two or more member insurers or is controlled either directly or indirectly by two or more insurers and that assists insurers in ratemaking-related activities. See Montana Code 33-16-1008
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Affidavit: means a sworn written declaration made before an officer authorized to administer oaths or an unsworn written declaration made under penalty of perjury as provided in 1-6-105. See Montana Code 1-1-203
  • Affiliate: has the meaning provided in 33-2-1101. See Montana Code 33-12-102
  • Affiliated: means that a person directly or indirectly controls, is controlled by, or is under common control with the insured. See Montana Code 33-2-301
  • affiliated: means any entity or person who directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with a specified entity or person. See Montana Code 33-22-1803
  • Affiliated company: means any company in the same corporate system as a parent, an industrial insured, or a member by virtue of common ownership, control, operation, or management. See Montana Code 33-28-101
  • Affiliated group: means any group of persons that are affiliated. See Montana Code 33-2-301
  • Affiliation period: means a period that, under the terms of the health insurance coverage offered by a health maintenance organization, must expire before the health insurance coverage becomes effective. See Montana Code 33-31-102
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • agricultural: has the meaning provided in 15-1-101(1)(a). See Montana Code 39-71-118
  • Allegation: something that someone says happened.
  • Ambulatory review: means a utilization review of health care services performed or provided in an outpatient setting. See Montana Code 33-32-102
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Amortization: Paying off a loan by regular installments.
  • Anniversary date: means the month and day that rates, rating plans, and rating systems are initially applied to a policy in effect. See Montana Code 33-15-1102
  • Annual payroll: means the total amount of wages paid by an employer, regardless of the time of payment, for employment during a calendar year. See Montana Code 39-51-201
  • 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.
  • Annuity: means a fixed annuity that is individually solicited, regardless of whether the product is classified as an individual or group annuity. See Montana Code 33-20-804
  • Annuity issuer: means an insurer that has issued a contract to fund periodic payments under a structured settlement. See Montana Code 33-20-1402
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Applicant: means a person, whether or not a prospective insured, who applies to a title insurer or title insurance producer for a title insurance policy, but does not include a title insurance producer. See Montana Code 33-25-105
  • Applicant: means :

    (a) in the case of an individual medicare supplement policy, the person who seeks to contract for insurance benefits; and

    (b) in the case of a group medicare supplement policy, the proposed certificate holder. See Montana Code 33-22-903

  • Applicant: means a person who seeks to contract for insurance coverage other than a person seeking group insurance that is not individually underwritten. See Montana Code 33-19-104
  • Applicant: means :

    (a) in the case of an individual long-term care insurance policy, the person who seeks to contract for benefits; and

    (b) in the case of a group long-term care insurance policy, the proposed certificate holder. See Montana Code 33-22-1107

  • Appointed actuary: means a qualified actuary who is appointed in accordance with the valuation manual to prepare an actuarial opinion required by this part. See Montana Code 33-2-402
  • Appointment of agent: means a statement appointing an agent for service of process filed by:

    (a) a domestic or foreign unincorporated nonprofit association; or

    (b) a domestic entity that is not a filing entity or a nonqualified foreign entity under 35-7-112. See Montana Code 35-7-102

  • Appropriate sale criteria: means the set of conditions that an insurance company is required to address with an applicant that help to determine whether or not a particular insurance policy or contract offered for sale is appropriate to the applicant. See Montana Code 33-22-1107
  • Appropriate unit: means a group of public employees banded together for collective bargaining purposes as designated by the board. See Montana Code 39-31-103
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Approved attorney: means an attorney authorized to practice law in this state, except an agent or employee of a title insurer, whose certification as to the status of the title to real property a title insurer is willing to accept as the basis for issuance of a title insurance policy. See Montana Code 33-25-105
  • Approved by the members: means approved and ratified by the affirmative vote:

    (a) of a majority of the votes represented and voting:

    (i) at a meeting at which a quorum is present and the affirmative votes constitute a majority of the required quorum;

    (ii) by a written ballot or written consent in conformity with this chapter; or

    (iii) by the affirmative vote, written ballot, or written consent of the majority; and

    (b) that includes the votes of all the members of any class, unit, or grouping that may be required by the articles, bylaws, or this chapter for any specified member action. See Montana Code 35-2-114

  • Approved risk list: means the list approved by the commissioner of the kinds of insurance presumed unobtainable from authorized insurers when Montana is the home state of the insured. See Montana Code 33-2-301
  • arrangement: means a multiple employer welfare arrangement that does not provide for payment of benefits under the arrangement solely through a policy or policies of insurance issued by one or more insurance companies with a certificate of authority under this title. See Montana Code 33-35-103
  • Arrest: Taking physical custody of a person by lawful authority.
  • articles: include amended and restated articles of incorporation and articles of merger. See Montana Code 35-2-114
  • articles of incorporation: as used in this chapter includes the articles of conversion of a converted corporation. See Montana Code 35-18-206
  • Articles of organization: means articles filed pursuant to 35-8-201 and those articles as amended or restated. See Montana Code 35-8-102
  • Asset-backed security: means a security or other instrument, excluding a mutual fund, evidencing an interest in or the right to receive payments from or payable from distributions on an asset, a pool of assets, or specifically divisible cash flows that are legally transferred to a trust or another special purpose bankruptcy-remote business entity, on the following conditions:

    (i) the trust or other business entity is established solely for the purpose of acquiring specific types of assets or rights to cash flows, issuing securities and other instruments representing an interest in or right to receive cash flows from those assets or rights, and engaging in activities required to service the assets or rights and any credit enhancement or support features held by the trust or other business entity; and

    (ii) the assets of the trust or other business entity consist solely of interest-bearing obligations or other contractual obligations representing the right to receive payment from the cash flows from the assets or rights. See Montana Code 33-12-102

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • assistance: means the evaluation, planning, implementation, and provision of appropriate services prior to the determination that the worker meets the definition of a disabled worker that are designed to facilitate a worker's return to work as soon as possible following the worker's injury or occupational disease. See Montana Code 39-71-1011
  • Assistance fund: means the stay-at-work/return-to-work assistance fund provided for in 39-71-1049. See Montana Code 39-71-1011
  • assistance policy: means a written stay-at-work/return-to-work policy that explains to the worker the process of evaluation, planning, implementation, and provision of services by the insurer prior to the determination that the worker meets the definition of a disabled worker. See Montana Code 39-71-1011
  • Associate: means a:

    (a) corporation, partnership, or other business entity organized for profit, of which a producer of title business is a director, officer, partner, employee, or owner of 5% or more of its equity or capital;

    (b) franchisor or franchisee of a producer of title business;

    (c) spouse, parent, or child of a producer of title business;

    (d) corporation, partnership, or other business entity that controls, is controlled by, or is under common control with a producer of title business; or

    (e) person with whom a producer of title business or an associate has an agreement, arrangement, understanding, or course of conduct having the purpose or substantial effect of evading the provisions of this title. See Montana Code 33-25-105

  • Association: means any legal association of sole proprietorships or business entities that has been in continuous existence for at least 1 year unless the 1-year requirement is waived by the commissioner and the members of which collectively, or the association itself:

    (a) owns, controls, or holds with power to vote all of the outstanding voting securities of an association captive insurance company incorporated as a stock insurer;

    (b) has complete voting control over an association captive insurance company incorporated as a mutual insurer;

    (c) constitutes all of the subscribers of an association captive insurance company formed as a reciprocal insurer; or

    (d) owns, controls, or holds with power to vote all of the outstanding ownership interests of an association captive insurance company organized as a limited liability company. See Montana Code 33-28-101

  • Association: means the Montana life and health insurance guaranty association created under 33-10-203. See Montana Code 33-10-202
  • Association: means the Montana reinsurance association provided for in this part. See Montana Code 33-22-1303
  • Association captive insurance company: means any company that insures risks of the members and the affiliated companies of members. See Montana Code 33-28-101
  • At-will company: means a limited liability company other than a term company. See Montana Code 35-8-102
  • Attachment point: means the threshold amount for claims costs incurred by an eligible health insurer for an enrolled individual's covered benefits in a benefit year, beyond which the claims costs for benefits are eligible for reinsurance payments. See Montana Code 33-22-1303
  • Attorney: as used in this chapter , refers to the attorney-in-fact of a reciprocal insurer. See Montana Code 33-5-104
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Audit: means a review of the records of a pharmacy by or on behalf of an entity that finances or reimburses the cost of health care services or pharmaceutical products. See Montana Code 33-2-2002
  • Authenticated electronic identification: includes any e-mail address or other electronic identification designated by a user, including a corporation, for electronic communications. See Montana Code 35-2-114
  • Authority: means :

    (a) a municipal or regional airport authority as provided in Title 67, chapter 11;

    (b) a conservancy district as provided in Title 85, chapter 9;

    (c) a conservation district as provided in Title 76, chapter 15;

    (d) a drainage district as provided in Title 85, chapter 8;

    (e) an irrigation district as provided in Title 85, chapter 7;

    (f) a hospital district as provided in Title 7, chapter 34, part 21;

    (g) a water conservation and flood control district as provided in Title 76, chapter 5, part 11;

    (h) a county water and sewer district as provided in Title 7, chapter 13, part 22; or

    (i) an urban transportation district as provided in Title 7, chapter 14, part 2. See Montana Code 7-3-122

  • authorized: when used in the context of assessments means a specified amount of money authorized for collection from member insurers by a resolution of the board of directors established in 33-10-204. See Montana Code 33-10-202
  • Authorized agent: means any individual granted permission by an entity to execute a document on behalf of the entity. See Montana Code 35-8-102
  • Authorized insurer: means an insurer authorized pursuant to 33-2-101 to transact insurance in this state. See Montana Code 33-2-301
  • Authorized representative: means an individual authorized by an operator to sell or offer self-storage insurance coverage in accordance with this part. See Montana Code 33-24-302
  • Authorized representative: means :

    (a) a person to whom a covered person has given express written consent to represent the covered person;

    (b) a person authorized by law to provided substituted consent for a covered person; or

    (c) a family member of the covered person, or the covered person's treating health care provider, only if the covered person is unable to provide consent. See Montana Code 33-32-102

  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Base period: means :

    (a) the first 4 of the last 5 completed calendar quarters immediately preceding the first day of an individual's benefit year;

    (b) if the individual does not have sufficient wages to qualify for benefits under subsection (2)(a), the 4 most recently completed calendar quarters immediately preceding the first day of the individual's benefit year;

    (c) in the case of a combined-wage claim pursuant to the arrangement approved by the secretary of labor of the United States, the period applicable under the unemployment law of the paying state; or

    (d) for an individual who fails to meet the qualifications of 39-51-2105 or a similar statute of another state because of a temporary total disability, as defined in 39-71-116, or a similar statute of another state or the United States, the first 4 quarters of the last 5 completed calendar quarters preceding the disability if a claim for unemployment benefits is filed within 24 months of the date on which the individual's disability was incurred. See Montana Code 39-51-201

  • Base premium rate: means , for each class of business as to a rating period, the lowest premium rate charged or that could have been charged under the rating system for that class of business by the small employer carrier to small employers with similar case characteristics for health benefit plans with the same or similar coverage. See Montana Code 33-22-1803
  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • Basic health benefit plan: means a health benefit plan, except a uniform health benefit plan, developed by a small employer carrier, that has a lower benefit value than the small employer carrier's standard benefit plan. See Montana Code 33-22-1803
  • Basic health care services: means :

    (a) consultative, diagnostic, therapeutic, and referral services by a provider;

    (b) inpatient hospital and provider care;

    (c) outpatient medical services;

    (d) medical treatment and referral services;

    (e) accident and sickness services by a provider to each newborn infant of an enrollee pursuant to 33-31-301(3)(e);

    (f) care and treatment of mental illness, alcoholism, and drug addiction;

    (g) diagnostic laboratory and diagnostic and therapeutic radiologic services;

    (h) preventive health services, including:

    (i) immunizations;

    (ii) well-child care from birth;

    (iii) periodic health evaluations for adults;

    (iv) voluntary family planning services;

    (v) infertility services; and

    (vi) children's eye and ear examinations conducted to determine the need for vision and hearing correction;

    (i) minimum mammography examination, as defined in 33-22-132;

    (j) outpatient self-management training and education for the treatment of diabetes along with certain diabetic equipment and supplies as provided in 33-22-129; and

    (k) treatment and medical foods for inborn errors of metabolism. See Montana Code 33-31-102

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Beneficiary: has the meaning given the term by 29 U. See Montana Code 33-22-140
  • Benefit contract: means the agreement for provision of authorized benefits described in 33-7-520. See Montana Code 33-7-108
  • Benefit corporation: means a corporation organized in this state that has elected to become subject to this part and whose status as a benefit corporation has not been terminated as provided in 35-1-1408. See Montana Code 35-1-1402
  • Benefit enforcement proceeding: means a claim or action relating to:

    (a) failure to pursue the general public benefit purpose of the benefit corporation or any specific public benefit purpose set forth in its articles of incorporation;

    (b) violation of a duty or standard of conduct imposed on a director or officer pursuant to this part; or

    (c) failure of the benefit corporation to deliver, provide, or post an annual benefit report as required in 35-1-1410. See Montana Code 35-1-1402

  • Benefit member: means an adult member who is designated by the laws or rules of the society to be a benefit member under a benefit contract. See Montana Code 33-7-108
  • Benefit plan: means a benefit plan for a specific employee, union, or association of natural persons. See Montana Code 33-10-202
  • Benefit value: means a numerical value based on the expected dollar value of benefits payable to an insured under a health benefit plan. See Montana Code 33-22-1803
  • Benefit year: means the 52-consecutive-week period beginning with the first day of the calendar week in which an individual files a valid claim for benefits, except that the benefit year is 53 weeks if filing a new valid claim would result in overlapping any quarter of the base period of a previously filed new claim. See Montana Code 39-51-201
  • Benefit year: means the calendar year for which an eligible health insurer provides coverage through an individual health insurance policy. See Montana Code 33-22-1303
  • Benefits: means the money payments payable to an individual, as provided in this chapter, with respect to the individual's unemployment. See Montana Code 39-51-201
  • benefits: means those health care services to which a covered person is entitled under the terms of a health plan. See Montana Code 33-32-102
  • Bequest: Property gifted by will.
  • Board: means the board of personnel appeals provided for in 2-15-1705. See Montana Code 39-31-103
  • Board: means the unemployment insurance appeals board provided for in Title 2, chapter 15, part 17. See Montana Code 39-51-201
  • Board: means the board of directors of the Montana self-insurers guaranty fund. See Montana Code 39-71-2603
  • Board: means the association's board of directors provided for in 33-22-1306. See Montana Code 33-22-1303
  • board of directors: means the board of directors except that a person or group of persons is not the board of directors because of powers delegated to that person or group pursuant to 35-2-414. See Montana Code 35-2-114
  • Bona fide association: means an association of employers that has been in existence for a period of not less than 5 years prior to sponsoring a self-funded multiple employer welfare arrangement, during which time the association has engaged in substantial activities relating to the common interests of member employers, and that continues to engage in substantial activities in addition to sponsoring an arrangement. See Montana Code 33-35-103
  • Bona fide association: means an association that:

    (a) has been actively in existence for at least 5 years;

    (b) was formed and has been maintained in good faith for purposes other than obtaining insurance;

    (c) does not condition membership in the association on a health status-related factor relating to an individual, including an employee of an employer or a dependent of an employee;

    (d) makes health insurance coverage offered through the association available to a member regardless of a health status-related factor relating to the member or an individual eligible for coverage through a member; and

    (e) does not make health insurance coverage offered through the association available other than in connection with a member of the association. See Montana Code 33-22-1803

  • Branch business: means any insurance business transacted by a branch captive insurance company in this state. See Montana Code 33-28-101
  • Branch captive insurance company: means any foreign captive insurance company authorized by the commissioner to transact the business of insurance in this state through a business unit with a principal place of business in this state. See Montana Code 33-28-101
  • Branch operations: means any business operations of a branch captive insurance company in this state. See Montana Code 33-28-101
  • Broadband: means transmission facilities capable of handling frequencies greater than those required for high-grade voice communication, higher than 4 kilohertz. See Montana Code 35-18-102
  • Business: includes every trade, occupation, profession, or other lawful purpose, whether or not carried on for profit. See Montana Code 35-8-102
  • Business entity: means a corporation, limited liability company, or other legal entity formed by an organizational document. See Montana Code 33-28-101
  • Business entity: includes a sole proprietorship, corporation, limited liability company, association, partnership, joint-stock company, joint venture, mutual fund, trust, joint tenancy, or other similar form of business organization, whether organized for profit or not for profit. See Montana Code 33-12-102
  • Business entity: means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. See Montana Code 33-17-102
  • Business entity: means a corporation, a limited liability company, an association, a partnership, a limited liability partnership, or other legal entity. See Montana Code 33-2-301
  • business trust: means an unincorporated association or trust of the type which at common law was known as a "business trust" or "Massachusetts trust" created by an instrument under which property is held and managed by trustees for the benefit and profit of such persons as are or may become the holders of transferable certificates evidencing beneficial interests in the trust estate. See Montana Code 35-5-101
  • Bylaws: means the code, codes, or rules, other than the articles, adopted pursuant to this chapter for the regulation or management of the affairs of the corporation, regardless of the name or names by which the code, codes, or rules are designated. See Montana Code 35-2-114
  • Calendar quarter: means the period of 3 consecutive calendar months ending on March 31, June 30, September 30, or December 31. See Montana Code 39-51-201
  • Called: when used in the context of assessments, means that the association has issued a notice to member insurers requiring that an authorized assessment be paid within the timeframe set forth within the notice. See Montana Code 33-10-202
  • Cancellation: means the decision by the insurer to terminate an insurance policy prior to the expiration of its term. See Montana Code 33-15-1102
  • Cap: means an agreement obligating the seller to make payments to the buyer, with each payment based on the amount by which a reference price or level or the performance or value of one or more underlying interests exceeds a predetermined number. See Montana Code 33-12-102
  • Capital and surplus: means the sum of the capital and surplus of the insurer required to be shown on the most recent statutory financial statement of the insurer required to be filed with the commissioner. See Montana Code 33-12-102
  • Captive insurance company: means any pure captive insurance company, association captive insurance company, protected cell captive insurance company, special purpose captive insurance company, or industrial insured captive insurance company formed or authorized under the provisions of this chapter. See Montana Code 33-28-101
  • Captive reinsurance company: means a captive insurance company authorized in this state that reinsures the risk ceded by any other insurer. See Montana Code 33-28-101
  • Captive risk retention group: means a captive insurance risk retention group formed under the laws of this chapter and pursuant to Title 33, chapter 11. See Montana Code 33-28-101
  • Carrier: means any person who provides a health benefit plan in this state subject to state insurance regulation. See Montana Code 33-22-1803
  • Case characteristics: means demographic or other objective characteristics of a small employer that are considered by the small employer carrier in the determination of premium rates for the small employer, provided that gender, claims experience, health status, and duration of coverage are not case characteristics for purposes of this part. See Montana Code 33-22-1803
  • Case management: means a coordinated set of activities conducted for individual patient management of serious, complicated, protracted, or otherwise complex health conditions. See Montana Code 33-32-102
  • Cash compensation: means any discount, concession, fee, service fee, commission, sales charge, loan, override, or cash benefit received by a producer in connection with the recommendation or sale of an annuity from an insurer, intermediary, or directly from the consumer. See Montana Code 33-20-804
  • Cash equivalent: means any short-term, highly liquid investment that is:

    (a) readily convertible to known amounts of cash; and

    (b) so near to its maturity that it presents insignificant risk of changes in value because of changes in interest rates. See Montana Code 33-28-101

  • Cash equivalents: means short-term, highly rated, and highly liquid investments or securities readily convertible to known amounts of cash without penalty and so near maturity that they present insignificant risk of change in value. See Montana Code 33-12-102
  • Catastrophically injured: means a physical injury or occupational disease incurred by a worker to the extent that treatment for the injury or occupational disease:

    (a) requires inpatient care for at least 21 consecutive days in a hospital or rehabilitation center that is in Montana but that is more than 100 miles from the worker's place of residence; or

    (b) requires inpatient care for at least 21 consecutive days in a hospital or rehabilitation center that is located outside Montana; and

    (c) occurs within 90 days of the accident or events causing the worker to be catastrophically injured. See Montana Code 39-71-4003

  • Caucus: From the Algonquian Indian language, a caucus meant "to meet together." An informal organization of members of the legislature that exists to discuss issues of mutual concern and possibly to perform legislative research and policy planning for its members. There are regional, political or ideological, ethnic, and economic-based caucuses.
  • Certificate: means the document issued as written evidence of the benefit contract. See Montana Code 33-7-108
  • Certificate: means documentation issued by the department to an individual who is a person with a disability. See Montana Code 39-71-901
  • Certificate: means a certificate delivered or issued for delivery in this state under a group medicare supplement policy. See Montana Code 33-22-903
  • Certificate: means a certificate issued under a group long-term care insurance policy that has been delivered or issued for delivery in this state. See Montana Code 33-22-1107
  • Certificate of insurance: means a document or instrument, regardless of how titled or described, that is prepared or issued by an insurer or insurance producer as evidence of property or casualty insurance coverage. See Montana Code 33-2-1402
  • Certification: means a determination by a health insurance issuer or its designated utilization review organization that an admission, availability of care, continued stay, or other health care service has been reviewed and, based on the information provided, satisfies the health insurance issuer's requirements for medical necessity, appropriateness, health care setting, level of care, and level of effectiveness. See Montana Code 33-32-102
  • CGAD: means a corporate governance annual disclosure, a confidential report filed by the insurer or insurance group made in accordance with the requirements of this part. See Montana Code 33-2-2103
  • Chambers: A judge's office.
  • Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
  • Church plan: has the meaning given the term by 29 U. See Montana Code 33-22-140
  • Claims liability: means the total of all incurred and unpaid claims for allowable benefits under a self-funded multiple employer welfare arrangement that are not reimbursed or reimbursable by excess of loss insurance, subrogation, or other sources. See Montana Code 33-35-103
  • Claims processing services: means the administrative services performed in connection with the processing and adjudicating of claims relating to pharmacist services that include either or both of the following:

    (a) receiving payments for pharmacist services; and

    (b) making payments to pharmacists or pharmacies. See Montana Code 33-2-2402

  • Class: refers to a group of memberships that have the same rights with respect to voting, dissolution, redemption, and transfer. See Montana Code 35-2-114
  • Class of business: means all or a separate grouping of small employers established pursuant to 33-22-1808. See Montana Code 33-22-1803
  • Class one bond mutual fund: means a mutual fund that at all times qualifies for investment using the bond class one reserve factor under the Purposes and Procedures of the Securities Valuation Office or any successor publication. See Montana Code 33-12-102
  • Class one money market mutual fund: means a money market mutual fund that at all times qualifies for investment using the bond class one reserve factor under the Purposes and Procedures of the Securities Valuation Office or any successor publication. See Montana Code 33-12-102
  • Classification: means an arrangement of insurance risks into an underwriting or rating group according to a classification system used by an insurer as a basis for tabulating statistical experience and determining premium rates. See Montana Code 33-15-1102
  • Classification system: means the plan, system, or arrangement for recognizing differences in exposure to hazards among industries, occupations, or operations of insurance policyholders. See Montana Code 33-16-1008
  • Clearing corporation: has the meaning provided in 30-8-112, except that with respect to securities issued by institutions organized or existing under the laws of any foreign country or securities used to meet the deposit requirements pursuant to the laws of a foreign country as a condition of doing business in the foreign country, a clearing corporation may include a corporation that is organized or existing under the laws of any foreign country and is legally qualified under those laws to effect transactions in securities by computerized book entry. See Montana Code 33-3-451
  • Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
  • Clinical peer: means a physician or other health care provider who:

    (a) holds a nonrestricted license in a state of the United States; and

    (b) is trained or works in the same or a similar specialty to the specialty that typically manages the medical condition, procedure, or treatment under review. See Montana Code 33-32-102

  • Clinical review criteria: means the written policies, written screening procedures, decision abstracts, determination rules, clinical and medical protocols, practice guidelines, or any other criteria or rationale used by a health insurance issuer or its designated utilization review organization to determine the medical necessity of health care services. See Montana Code 33-32-102
  • Closed plan: means a managed care plan that requires covered persons to use only participating providers under the terms of the managed care plan. See Montana Code 33-36-103
  • Closure: means the permanent shutting down of operations at a workplace. See Montana Code 39-2-1002
  • COBRA continuation provision: means :

    (a) section 4980B of the Internal Revenue Code, 26 U. See Montana Code 33-22-140

  • Coinsurance rate: means the rate at which the association will reimburse an eligible health insurer for claims incurred for an enrolled individual's covered benefits in a benefit year above the attachment point and below the reinsurance cap. See Montana Code 33-22-1303
  • Combination plan: means an open plan with a closed component. See Montana Code 33-36-103
  • Commercial registered agent: means an individual or a domestic or foreign entity listed under 35-7-106. See Montana Code 35-7-102
  • Commission on rehabilitation counselor certification: means the nonprofit, independent, fee-structured organization that is a member of the national commission for health certifying agencies and that is established to certify rehabilitation providers. See Montana Code 39-71-1011
  • Commissioner: means the commissioner of labor and industry as provided for in 2-15-1701. See Montana Code 39-1-101
  • Commissioner: means the insurance commissioner of the state of Montana. See Montana Code 33-2-2103
  • Commissioner: means the commissioner of insurance of the state of Montana. See Montana Code 33-31-102
  • Commissioner: means the commissioner of labor and industry. See Montana Code 39-3-402
  • Committee on committees: Committees formed in each party conference and responsible for nominating the party's Senators to committee membership and committee leadership positions. Nominations are subject to approval by the full party conference and to a formal vote of the Senate.
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Completed operations liability: means :

    (a) liability arising out of the installation, maintenance, or repair of any product at a site that is not owned or controlled by:

    (i) a person who performs that work; or

    (ii) a person who hires an independent contractor to perform that work; and

    (b) liability for activities that are completed or abandoned before the date of the occurrence giving rise to the liability. See Montana Code 33-11-102

  • Concurrent review: means a utilization review conducted during a patient's stay or course of treatment in a facility, the office of a health care professional, or another inpatient or outpatient health care setting. See Montana Code 33-32-102
  • Conference committee: A temporary, ad hoc panel composed of conferees from both chamber of a legislature which is formed for the purpose of reconciling differences in legislation that has passed both chambers. Conference committees are usually convened to resolve bicameral differences on major and controversial legislation.
  • Confidential employee: means any person found by the board to be a confidential labor relations employee and any person employed in the personnel division, department of administration, who acts with discretionary authority in the creation or revision of state classification specifications. See Montana Code 39-31-103
  • Consideration: has the meaning provided in 28-2-801. See Montana Code 33-20-1402
  • Constituent limited partnership: means a constituent organization that is a limited partnership. See Montana Code 35-12-1501
  • Constituent organization: means an organization that is party to a merger. See Montana Code 35-12-1501
  • Consultant: means an individual who for a fee examines, appraises, reviews, evaluates, makes recommendations, or gives advice regarding an insurance policy, annuity, or pension contract, plan, or program. See Montana Code 33-17-102
  • Consultant license: means a document issued by the commissioner that authorizes an individual to act as an insurance consultant. See Montana Code 33-17-102
  • Consumer profile information: means information that is reasonably appropriate to determine whether a recommendation addresses the consumer's financial situation, insurance needs, and financial objectives, including, at a minimum, the following:

    (a) age;

    (b) annual income;

    (c) financial situation and needs, including debts and other obligations;

    (d) financial experience;

    (e) insurance needs;

    (f) financial objectives;

    (g) intended use of the annuity;

    (h) financial time horizon;

    (i) existing assets or financial products, including investment, annuity, and insurance holdings;

    (j) liquidity needs;

    (k) liquid net worth;

    (l) risk tolerance, including but not limited to willingness to accept nonguaranteed elements in the annuity;

    (m) financial resources used to fund the annuity; and

    (n) tax status. See Montana Code 33-20-804

  • Consumer report: means any written, oral, or other communication of information bearing on a natural person's credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living that is used or expected to be used in connection with an insurance transaction. See Montana Code 33-19-104
  • Consumer reporting agency: means a person who:

    (a) regularly engages, in whole or in part, in the practice of assembling or preparing consumer reports for a monetary fee;

    (b) obtains information primarily from sources other than insurance institutions; and

    (c) furnishes consumer reports to other persons. See Montana Code 33-19-104

  • Contingencies: means provisions in rates to recognize the uncertainty of the estimates of losses, loss adjustment expenses, other operating expenses, and investment income and profit that comprise those rates. See Montana Code 33-16-1008
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Contractual obligation: means an obligation under any of the following for which coverage is provided in this part:

    (a) a policy or contract;

    (b) a certificate under a group policy or contract; or

    (c) a portion of a policy or contract or a portion of a certificate. See Montana Code 33-10-202

  • Contributions: means the money payments to the state unemployment insurance fund required by this chapter but does not include assessments under 39-51-404. See Montana Code 39-51-201
  • Control: means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract (other than a commercial contract for goods or nonmanagement services), or otherwise, unless the power is the result of an official position with a corporation or a corporate office held by the person. See Montana Code 33-12-102
  • Controlled business: means that portion of the business of title insurance in this state of a title insurer or title insurance producer that is referred to it by a producer or associate having a financial interest in the title insurer or title insurance producer. See Montana Code 33-25-105
  • Controlled unaffiliated business entity: means a business entity or sole proprietorship:

    (i) that is not in a parent's corporate system consisting of the parent and affiliated companies;

    (ii) that has an existing, controlling contractual relationship with the parent or an affiliated company; and

    (iii) whose risks are managed by a pure captive insurance company. See Montana Code 33-28-101

  • Conversion: means a transaction pursuant to 35-14-930 through 35-14-935. See Montana Code 35-14-901
  • Converted entity: means the converting entity as it continues in existence after a conversion. See Montana Code 35-14-901
  • Converted organization: means the organization into which a converting organization converts pursuant to 35-12-1502 through 35-12-1505. See Montana Code 35-12-1501
  • Converting entity: means the domestic corporation or eligible entity that approves a plan of conversion pursuant to 35-14-932 or the foreign eligible entity that approves a conversion pursuant to the organic law of the eligible entity. See Montana Code 35-14-901
  • Converting limited partnership: means a converting organization that is a limited partnership. See Montana Code 35-12-1501
  • Converting organization: means an organization that converts into another organization pursuant to 35-12-1502. See Montana Code 35-12-1501
  • Conviction: A judgement of guilt against a criminal defendant.
  • Cooperative: means a corporation organized under this chapter or a corporation that becomes subject to the provisions of this chapter. See Montana Code 35-18-102
  • corporation: means both a domestic corporation and a registered foreign corporation. See Montana Code 35-14-501
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Corporation: means a public benefit corporation, mutual benefit corporation, or religious corporation. See Montana Code 35-2-114
  • Corporation: means a corporation formed under the laws of this state or a foreign corporation. See Montana Code 35-8-102
  • Corrective order: means an order issued by the commissioner specifying corrective actions that the commissioner has determined are required. See Montana Code 33-2-1902
  • Corruptly: means a wrongful design to acquire or cause some pecuniary or other advantage to the person guilty of the act or omission referred to or to some other person. See Montana Code 1-1-204
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • Counterparty exposure amount: means the net amount of credit risk attributable to a derivative instrument, pursuant to 33-12-109, entered into with a business entity other than through a qualified exchange or qualified foreign exchange or cleared through a qualified clearinghouse. See Montana Code 33-12-102
  • Court: includes every court having jurisdiction in the case. See Montana Code 35-8-102
  • Covered: means that an insurer:

    (a) owns or can immediately acquire, through the exercise of options, warrants, or already-owned conversion rights, the underlying interest in order to fulfill or secure its obligations under a call option, cap, or floor it has written; or

    (b) has set aside, under a custodial or escrow agreement, cash or cash equivalents with a market value equal to the amount required to fulfill its obligations under a put option it has written in an income generation transaction. See Montana Code 33-12-102

  • Covered benefits: means those health care services to which a covered person is entitled under the terms of a health benefit plan. See Montana Code 33-36-103
  • Covered person: means a policyholder, a certificate holder, a member, a subscriber, an enrollee, or another individual participating in a health plan. See Montana Code 33-32-102
  • Covered person: means a policyholder, subscriber, or enrollee or other individual participating in a health benefit plan. See Montana Code 33-36-103
  • Covered person: means a policyholder, subscriber, certificate holder, enrollee, or other individual who is participating in a health benefit plan. See Montana Code 33-22-1902
  • Covered policy: means any policy or contract or portion of a policy or contract for which coverage is provided within the scope of this part. See Montana Code 33-10-202
  • Credit disability insurance: means insurance on a debtor or joint debtors to provide indemnity for payments becoming due on a specific loan or other credit transaction while the debtor or either of the joint debtors is disabled as defined in the policy. See Montana Code 33-21-103
  • Credit life insurance: means insurance on the life of a debtor or the lives of joint debtors pursuant to or in connection with a specific loan or other credit transaction. See Montana Code 33-21-103
  • Credit tenant loan: means a mortgage loan that is made primarily in reliance on the credit standing of a major tenant, structured with an assignment of the rental payments to the lender with real estate pledged as collateral in the form of a first lien. See Montana Code 33-12-102
  • Credit transaction: means a transaction by the terms of which, at a future date:

    (a) repayment of money loaned is made;

    (b) a loan commitment is made; or

    (c) payment for goods, services, or property sold or leased is made. See Montana Code 33-21-103

  • Creditable coverage: means coverage of the individual under any of the following:

    (i) a group health plan;

    (ii) health insurance coverage;

    (iii) Title XVIII, part A or B, of the Social Security Act, 42 U. See Montana Code 33-22-140

  • Creditor: means :

    (a) a lender of money or vendor or lessor of goods, services, property, rights, or privileges, for which payment is arranged through a credit transaction;

    (b) any successor to the right, title, or interest of a lender, vendor, or lessor;

    (c) an affiliate, associate, or subsidiary of a lender, vendor, or lessor;

    (d) a director, officer, or employee of a lender, vendor, or lessor; or

    (e) any other person in any way associated with a lender, vendor, or lessor. See Montana Code 33-21-103

  • Customary: means according to usage. See Montana Code 1-1-206
  • Customer: means a person who purchases portable electronics or services related to the use of portable electronics. See Montana Code 33-24-202
  • Customer service representative: means an employee of a rental vehicle entity. See Montana Code 33-17-1501
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Death master file: means the social security administration's death master file or any other database or service at least as comprehensive as the social security administration's death master file used for determining that a person has reportedly died. See Montana Code 33-20-1604
  • Debtor: means a borrower of money or a purchaser or lessee of goods, services, property, rights, or privileges for which payment is arranged through a credit transaction. See Montana Code 33-21-103
  • Decedent: A deceased person.
  • Declination of insurance coverage: means a denial, in whole or in part, by an insurance institution or insurance producer of requested insurance coverage. See Montana Code 33-19-104
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Delegates: means those persons elected or appointed to vote in a representative assembly for the election of a director or directors or on other matters. See Montana Code 35-2-114
  • delivery: means any method of delivery used in conventional commercial practice, including delivery by hand, mail, commercial delivery, and electronic transmission, except that delivery to the secretary of state means actual receipt in a manner authorized by the secretary of state. See Montana Code 35-2-114
  • Department: means the department of labor and industry as provided for in 2-15-1701. See Montana Code 39-1-101
  • Department: means the department of labor and industry provided for in 2-15-1701. See Montana Code 39-12-102
  • Department: means the department of administration. See Montana Code 32-6-103
  • Department: means the department of labor and industry provided for in Title 2, chapter 15, part 17. See Montana Code 39-51-201
  • Department: means the department of labor and industry. See Montana Code 39-2-1002
  • Department: means the department of public health and human services established in 2-15-2201. See Montana Code 33-36-103
  • Department: means the department of administration as provided for in Title 2, chapter 15, part 10. See Montana Code 32-7-102
  • Dependent: has the meaning provided in 33-22-140. See Montana Code 33-31-102
  • Dependent: A person dependent for support upon another.
  • Dependent: means :

    (a) a spouse;

    (b) an unmarried child under 25 years of age:

    (i) who is not an employee eligible for coverage under a group health plan offered by the child's employer for which the child's premium contribution amount is no greater than the premium amount for coverage as a dependent under a parent's individual or group health plan;

    (ii) who is not a named subscriber, insured, enrollee, or covered individual under any other individual health insurance coverage, group health plan, government plan, church plan, or group health insurance;

    (iii) who is not entitled to benefits under 42 U. See Montana Code 33-22-140

  • Dependent: means :

    (a) a spouse;

    (b) an unmarried child under 25 years of age:

    (i) who is not an employee eligible for coverage under a group health plan offered by the child's employer for which the child's premium contribution amount is no greater than the premium amount for coverage as a dependent under a parent's individual or group health plan;

    (ii) who is not a named subscriber, insured, enrollee, or covered individual under any other individual health insurance coverage, group health plan, government plan, church plan, or group health insurance;

    (iii) who is not entitled to benefits under 42 U. See Montana Code 33-22-1803

  • Derivative instrument: means an agreement, an option, an instrument, or a series or combination of agreements, options, or instruments:

    (i) to make or take delivery of or assume or relinquish a specified amount of one or more underlying interests or to make a cash settlement in lieu of delivery; or

    (ii) that has a price, level, performance, value, or cash flow based primarily upon the actual or expected price, level, performance, value, or cash flow of one or more underlying interests. See Montana Code 33-12-102

  • Derivative transaction: means a transaction involving the use of one or more derivative instruments. See Montana Code 33-12-102
  • Developed losses: means adjusted losses, including loss adjustment expenses, using accepted actuarial standards to eliminate the effect of differences between current payment or reserve estimates and those needed to provide actual ultimate loss payments, including loss adjustment expense payments. See Montana Code 33-16-1008
  • Devise: To gift property by will.
  • Direct participant: means a bank, trust company, or other institution that maintains an account in its name in a clearing corporation and through which an insurance company participates in a clearing corporation. See Montana Code 33-3-451
  • directly: when used in connection with an obligation, means that the designated obligor is primarily liable on the instrument representing the obligation. See Montana Code 33-12-102
  • Director: means an individual elected to or otherwise serving on the board of directors of a benefit corporation. See Montana Code 35-1-1402
  • Directors: means individuals:

    (a) designated in the articles or bylaws or elected by the incorporators and their successors; and

    (b) elected or appointed by any other name or title to act as members of the board. See Montana Code 35-2-114

  • Disability income insurance: has the meaning provided in 33-1-235 for:

    (A) individuals employed in professional sports or the entertainment industry; or

    (B) a business entity insuring a principal to cover liability or provide assurance for the business entity's loans or contracts. See Montana Code 33-2-301

  • Disabled worker: means a worker who has a permanent impairment, established by objective medical findings, resulting from a work-related injury that precludes the worker from returning to the job the worker held at the time of the injury or to a job with similar physical requirements and who has an actual wage loss as a result of the injury. See Montana Code 39-71-1011
  • Discharge planning: means the formal process for determining, prior to discharge from a facility, the coordination and management of the care that a patient receives after discharge from a facility. See Montana Code 33-32-102
  • Discounted present value: means the present value of future payments determined by discounting the future payments to the present using the most recently published applicable federal rate for determining the present value of an annuity, as issued by the United States internal revenue service. See Montana Code 33-20-1402
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Disqualified person: means any natural person, corporation, partnership, fiduciary, trust, association, government agency, or other entity that for any reason is or becomes ineligible under this chapter to own shares issued by a professional corporation. See Montana Code 35-4-109
  • Distribution: means the payment of a dividend or any part of the income or profit of a corporation to its members, directors, or officers. See Montana Code 35-2-114
  • Distribution: means a transfer of money, property, or other benefit to a member in that member's capacity as a member of a limited liability company or to a transferee of a member's distributional interest. See Montana Code 35-8-102
  • Distributional interest: means all of a member's interest in the distributions of a limited liability company. See Montana Code 35-8-102
  • distributor: has the meaning provided in 37-7-602. See Montana Code 33-2-2402
  • Docket: A log containing brief entries of court proceedings.
  • Dollar roll transaction: means two simultaneous transactions with different settlement dates that are no more than 96 days apart, so that in the transaction with the earlier settlement date, an insurer sells to a business entity, and in the other transaction, the insurer is obligated to purchase from the same business entity, substantially similar securities of the following types:

    (a) asset-backed securities issued, assumed, or guaranteed by the government national mortgage association, the federal national mortgage association, or the federal home loan mortgage corporation or their successors; and

    (b) other asset-backed securities referred to in section 106 of Title I of the Secondary Mortgage Market Enhancement Act of 1984 (15 U. See Montana Code 33-12-102

  • Domestic corporation: means a corporation. See Montana Code 35-2-114
  • Domestic entity: means an entity whose internal affairs are governed by the law of this state. See Montana Code 35-7-102
  • Domestic insurer: means any insurance company or health organization domiciled in this state. See Montana Code 33-2-1902
  • Domestic jurisdiction: means the United States, any state, Canada, any province of Canada, or any political subdivision of a state or province. See Montana Code 33-12-102
  • domestic limited liability company: means an organization that is formed under this chapter. See Montana Code 35-8-102
  • Domestic or household service: means employment of persons other than members of the household for the purpose of tending to the aid and comfort of the employer or members of the employer's family, including but not limited to housecleaning and yard work. See Montana Code 39-51-201
  • domestic professional corporation: means a corporation for profit subject to the provisions of this chapter, except a foreign professional corporation. See Montana Code 35-4-109
  • Domesticated corporation: means the domesticating corporation as it continues in existence after a domestication. See Montana Code 35-14-901
  • Domesticating corporation: means the domestic corporation that approves a plan of domestication pursuant to 35-14-921 or the foreign corporation that approves a domestication pursuant to the organic law of the foreign corporation. See Montana Code 35-14-901
  • Domestication: means a transaction pursuant to 35-14-920 through 35-14-924. See Montana Code 35-14-901
  • Donor: The person who makes a gift.
  • Effective date of notice: has the meaning provided in 35-2-115(5). See Montana Code 35-2-114
  • Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Montana Code 35-2-114
  • electronic delivery: means :

    (a) delivery to an electronic mail address at which a party has consented to receive notices or documents; or

    (b) (i) posting on an electronic network or site accessible by the internet through use of a mobile application, computer, mobile device, tablet, or any other electronic device; and

    (ii) sending separate notice of the posting to the electronic mail address at which the party has consented to receive notice of the posting or using any other delivery method to which the party has consented. See Montana Code 33-15-601

  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • Electronic funds transfer: means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument that is initiated through an electronic terminal, telephone, computer, or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit an account. See Montana Code 32-6-103
  • Electronic terminal: means an electronic device, other than a telephone operated by a consumer, through which a consumer may initiate an electronic funds transfer. See Montana Code 32-6-103
  • Eligible employee: means an employee who works on a full-time basis with a normal workweek of 30 hours or more, except that at the sole discretion of the employer, the term may include an employee who works on a full-time basis with a normal workweek of between 20 and 40 hours as long as this eligibility criteria is applied uniformly among all of the employer's employees. See Montana Code 33-22-1803
  • Eligible health insurer: means a health insurer, health service corporation, or health maintenance organization that:

    (a) offers individual health insurance coverage in the individual market, as defined in 33-22-140;

    (b) offers a qualified health plan as defined in 42 U. See Montana Code 33-22-1303

  • Eligible surplus lines insurer: means an unauthorized insurer that is eligible to issue surplus lines insurance under 33-2-307. See Montana Code 33-2-301
  • Elimination rider: means a provision attached to a policy that excludes coverage for a specific condition that would otherwise be covered under the policy. See Montana Code 33-22-140
  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • Emergency medical condition: has the meaning provided in 33-36-103. See Montana Code 33-32-102
  • Emergency medical condition: means a condition manifesting itself by symptoms of sufficient severity, including severe pain, that the absence of immediate medical attention could reasonably be expected to result in any of the following:

    (a) the covered person's health would be in serious jeopardy;

    (b) the covered person's bodily functions would be seriously impaired; or

    (c) a bodily organ or part would be seriously damaged. See Montana Code 33-36-103

  • Emergency medical condition: means a condition manifesting itself by symptoms of sufficient severity, including severe pain, that the absence of immediate medical attention could reasonably be expected to result in any of the following:

    (a) the covered person's health would be in serious jeopardy;

    (b) the covered person's bodily functions would be seriously impaired; or

    (c) a bodily organ or part would be seriously damaged. See Montana Code 33-22-1703

  • Emergency services: has the meaning provided in 33-36-103. See Montana Code 33-32-102
  • Emergency services: means health care items and services furnished or required to evaluate and treat an emergency medical condition. See Montana Code 33-36-103
  • Employ: means to suffer or permit to work. See Montana Code 39-3-402
  • Employee: means an individual employed by an employer. See Montana Code 39-3-402
  • employee or worker in this state: means :

    (a) a resident of Montana who is employed by an employer and whose employment duties are primarily carried out or controlled within this state;

    (b) a nonresident of Montana whose principal employment duties are conducted within this state on a regular basis for an employer;

    (c) a nonresident employee of an employer from another state engaged in the construction industry, as defined in 39-71-116, within this state; or

    (d) a nonresident of Montana who does not meet the requirements of subsection (8)(b) and whose employer elects coverage with an insurer that allows an election for an employer whose:

    (i) nonresident employees are hired in Montana;

    (ii) nonresident employees' wages are paid in Montana;

    (iii) nonresident employees are supervised in Montana; and

    (iv) business records are maintained in Montana. See Montana Code 39-71-118

  • Employer: means the state of Montana. See Montana Code 39-2-1002
  • Employing unit: means any individual or organization, including the state government and any of its political subdivisions or instrumentalities or an Indian tribe or tribal unit, partnership, association, trust, estate, joint-stock company, insurance company, limited liability company or limited liability partnership that has filed with the secretary of state, or corporation, whether domestic or foreign, or the receiver, trustee in bankruptcy, trustee or the trustee's successor, or legal representative of a deceased person in whose employ one or more individuals perform or performed services within this state, except as provided under 39-51-204(1)(a) and (1)(j). See Montana Code 39-51-201
  • Employment office: means a free public employment office or branch of an office operated by this state or maintained as a part of a state-controlled system of public employment offices or other free public employment offices operated and maintained by the United States government or its instrumentalities as the department may approve. See Montana Code 39-51-201
  • enactment date: means the earliest date on which the laws of this state authorized a transaction having the effect of a domestication or a conversion, as applicable. See Montana Code 35-14-901
  • Enrolled customer: means a customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics. See Montana Code 33-24-202
  • Enrollee: means a member, policyholder, subscriber, covered person, beneficiary, dependent, or other individual participating in a health benefit plan. See Montana Code 33-2-2402
  • Enrollee: means a person:

    (a) who enrolls in or contracts with a health maintenance organization;

    (b) on whose behalf a contract is made with a health maintenance organization to receive health care services; or

    (c) on whose behalf the health maintenance organization contracts to receive health care services. See Montana Code 33-31-102

  • Enrollee: means the individual to whom a health care service is provided or will be provided under a health plan. See Montana Code 33-1-801
  • Enroller: means a person who:

    (a) solicits the purchase or renewal of a medical care discount card through that person;

    (b) transmits, for consideration, from a supplier to another person or from another person to a supplier a contract or application for a medical care discount card or the renewal of a medical care discount card; or

    (c) acts or aids in another manner in the delivery or negotiation of a medical care discount card or the renewal or continuance of a medical care discount card. See Montana Code 33-38-102

  • Enrollment date: means , with respect to an individual covered under a group health plan or health insurance coverage, the date of enrollment of the individual in the plan or coverage or, if earlier, the first day of the waiting period for enrollment. See Montana Code 33-22-140
  • Enterprise risk: means any activity, circumstance, event, or series of events involving one or more affiliates of an insurer that, if not remedied promptly, is likely to have a material adverse effect on the financial condition or liquidity of the insurer or its insurance holding company system as a whole. See Montana Code 33-2-1101
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Entity: includes :

    (a) a pharmacy benefits manager;

    (b) a health benefit plan;

    (c) a third-party administrator; and

    (d) a company, group, or agent that represents or is engaged by one of the entities described in this subsection (2). See Montana Code 33-2-2002

  • Entity: includes :

    (a) a corporation and foreign corporation;

    (b) a business corporation and foreign business corporation;

    (c) a profit and nonprofit unincorporated association;

    (d) a corporation sole;

    (e) a business trust, an estate, a partnership, a trust, and two or more persons having a joint or common economic interest; and

    (f) a state, the United States, and a foreign government. See Montana Code 35-2-114

  • Entity: means a person that has a separate legal existence or has the power to acquire an interest in real property in its own name other than:

    (a) an individual;

    (b) a testamentary, inter vivos, or charitable trust, with the exception of a business trust, statutory trust, or similar trust;

    (c) an association or relationship that is not a partnership by reason of 35-10-202(3) or a similar provision of the law of any other jurisdiction;

    (d) a decedent's estate; or

    (e) a public corporation, government, governmental subdivision, agency, instrumentality, or quasi-governmental instrumentality. See Montana Code 35-7-102

  • Entity: means an insurer as defined in 33-1-201, a health service corporation as defined in 33-30-101, and a health maintenance organization as defined in 33-31-102. See Montana Code 33-22-903
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Equity interest: means any of the following that are not rated credit instruments:

    (a) common stock;

    (b) preferred stock;

    (c) trust certificate;

    (d) equity investment in an investment company other than a money market mutual fund or a class one bond mutual fund;

    (e) investment in a common trust fund of a bank regulated by a federal or state agency;

    (f) an ownership interest in minerals, oil, or gas, the rights to which have been separated from the underlying fee interest in the real estate where the minerals, oil, or gas is located;

    (g) instruments that are mandatorily, or at the option of the issuer, convertible to equity;

    (h) limited partnership interests and those general partnership interests authorized under 33-12-104(4);

    (i) member interests in limited liability companies;

    (j) warrants or other rights to acquire equity interests that are created by the person that owns or would issue the equity to be acquired; or

    (k) instruments that would be rated credit instruments except for the provisions of subsection (70)(b). See Montana Code 33-12-102

  • Equivalent securities: means :

    (a) in a securities lending transaction, securities that are identical to the loaned securities in all features including the amount of the loaned securities, except as to certificate number if held in physical form, but if any different security is exchanged for a loaned security by recapitalization, merger, consolidation, or other corporate action, the different security is considered to be the loaned security;

    (b) in a repurchase transaction, securities that are identical to the purchased securities in all features including the amount of the purchased securities, except as to the certificate number if held in physical form; or

    (c) in a reverse repurchase transaction, securities that are identical to the sold securities in all features including the amount of the sold securities, except as to the certificate number if held in physical form. See Montana Code 33-12-102

  • Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Escrow: means any transaction in which one person, for the purpose of effecting the sale, transfer, encumbrance, or lease of real or personal property to another person or for the purpose of making payments under any encumbrance of the property, delivers any written instrument, money, evidence, title to real or personal property, or other thing of value to a third person to be held by that third person until the happening of a specified event or the performance of a prescribed condition, when the instrument, money, evidence, title, or thing of value is to be delivered by the third person to a grantee, grantor, promisee, promisor, obligee, obligor, bailee, or bailor or to any agents or employees pursuant to the written escrow instructions. See Montana Code 32-7-102
  • Escrow business: means a commercial activity characterized by the regular and continuous carrying on of escrow transactions. See Montana Code 32-7-102
  • Established geographic service area: means a geographic area, as approved by the commissioner and based on the carrier's certificate of authority to transact insurance in this state, within which the carrier is authorized to provide coverage. See Montana Code 33-22-1803
  • Evidence of coverage: means a certificate, agreement, policy, or contract issued to an enrollee setting forth the coverage to which the enrollee is entitled. See Montana Code 33-31-102
  • Ex officio: Literally, by virtue of one's office.
  • Excepted benefits: means :

    (a) coverage only for accident or disability income insurance, or both;

    (b) coverage issued as a supplement to liability insurance;

    (c) liability insurance, including general liability insurance and automobile liability insurance;

    (d) workers' compensation or similar insurance;

    (e) automobile medical payment insurance;

    (f) credit-only insurance;

    (g) coverage for onsite medical clinics;

    (h) other similar insurance coverage under which benefits for medical care are secondary or incidental to other insurance benefits, as approved by the commissioner;

    (i) if offered separately, any of the following:

    (i) limited-scope dental or vision benefits;

    (ii) benefits for long-term care, nursing home care, home health care, community-based care, or any combination of these types of care; or

    (iii) other similar, limited benefits as approved by the commissioner;

    (j) if offered as independent, noncoordinated benefits, any of the following:

    (i) coverage only for a specified disease or illness; or

    (ii) hospital indemnity or other fixed indemnity insurance;

    (k) if offered as a separate insurance policy:

    (i) medicare supplement coverage;

    (ii) coverage supplemental to the coverage provided under Title 10, chapter 55, of the United States Code; and

    (iii) similar supplemental coverage provided under a group health plan. See Montana Code 33-22-140

  • Exchange: means a health benefit exchange established by the state of Montana or an exchange established by the United States department of health and human services in accordance with 42 U. See Montana Code 33-17-102
  • Exclusive representative: means the labor organization which has been designated by the board as the exclusive representative of employees in an appropriate unit or has been so recognized by the public employer. See Montana Code 39-31-103
  • Executor: A male person named in a will to carry out the decedent
  • Exempt commercial purchaser: has the meaning provided in 33-2-318. See Montana Code 33-2-301
  • Exhaustee: means an individual who, with respect to any week of unemployment in the eligibility period:

    (a) has received, prior to that week, all of the regular benefits that were available under this chapter or any other state law, including dependents' allowances and benefits payable to federal civilian employees and ex-service personnel under 5 U. See Montana Code 39-51-2501

  • Expenses: means the portion of a rate that is attributable to acquisition, filed supervision and collection expenses, general expenses and taxes, licenses, or fees. See Montana Code 33-16-1008
  • Experience rating: means a rating procedure using past insurance experience of the individual policyholder to forecast future losses by measuring the policyholder's loss experience against the loss experience of policyholders in the same classification to produce a prospective premium credit, debit, or unity modification. See Montana Code 33-16-1008
  • Extended benefit period: means a period that:

    (a) begins with the third week after a week for which there is a state "on" indicator, provided that no extended benefit period may begin by reason of a state "on" indicator before the 14th week following the end of a prior extended benefit period that was in effect with respect to this state; and

    (b) ends with the third week after the first week for which there is a state "off" indicator or the 13th consecutive week of the period. See Montana Code 39-51-2501

  • Extended benefits: means benefits, including benefits payable to federal civilian employees and to ex-service personnel pursuant to 5 U. See Montana Code 39-51-2501
  • External communications: includes any communication with the secretary of state, the attorney general, a state, or the United States. See Montana Code 35-2-114
  • External review: describes the set of procedures provided for in Title 33, chapter 32, part 4. See Montana Code 33-32-102
  • Facility: means an institution providing health care services or a health care setting, including but not limited to a hospital, medical assistance facility, or critical access hospital, as defined in 50-5-101, or other licensed inpatient center, an outpatient center for surgical services, a treatment center, a skilled nursing center, a residential treatment center, a diagnostic laboratory, a diagnostic imaging center, or a rehabilitation or other therapeutic health setting. See Montana Code 33-36-103
  • Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Farm or ranch: means an endeavor primarily engaged in cultivating the soil or in connection with raising or harvesting an agricultural or horticultural commodity, including the raising, shearing, feeding, caring for, training, and management of livestock, bees, and poultry and fur-bearing animals and wildlife. See Montana Code 39-3-402
  • Farm worker: means a person employed to do a service performed on a farm or ranch. See Montana Code 39-3-402
  • Federal reserve book-entry system: means the computerized systems sponsored by the United States department of the treasury and certain agencies and instrumentalities of the United States for holding and transferring securities of the United States government and those agencies and instrumentalities, respectively, in federal reserve banks through banks that are members of the federal reserve system or that otherwise have access to the computerized systems. See Montana Code 33-3-451
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Federally certified health entity: means a 340B covered entity as described in 42 U. See Montana Code 33-2-2402
  • Federally defined eligible individual: means an individual:

    (a) for whom, as of the date on which the individual seeks coverage in the group market or individual market, the aggregate of the periods of creditable coverage is 18 months or more;

    (b) whose most recent prior creditable coverage was under a group health plan, governmental plan, church plan, or health insurance coverage offered in connection with any of those plans;

    (c) who is not eligible for coverage under:

    (i) a group health plan;

    (ii) Title XVIII, part A or B, of the Social Security Act, 42 U. See Montana Code 33-22-140

  • federally tax-qualified long-term care insurance contract: means :

    (a) an individual or group insurance contract that meets the requirement of section 7702B of the Internal Revenue Code, 26 U. See Montana Code 33-22-1107

  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fiduciary: A trustee, executor, or administrator.
  • filing: means filed in the office of the secretary of state. See Montana Code 35-2-114
  • Filing entity: means an entity that is created by the filing of a public organic document. See Montana Code 35-7-102
  • Final adverse determination: means an adverse determination involving a covered benefit that has been upheld by a health insurance issuer or its designated utilization review organization at the completion of the health insurance issuer's internal grievance process as provided in Title 33, chapter 32, part 3. See Montana Code 33-32-102
  • Finance administrator: means the individual responsible for the financial administration of the local government and generally means the county or city treasurer or town clerk unless the alternative form or governing body specifies a different individual. See Montana Code 7-3-122
  • Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
  • Financial institution: means a bank chartered under chapter 1 of this title, a bank chartered under the National Banking Acts in Title 12 of the United States Code, a building and loan association chartered under chapter 2 of this title, a savings and loan association chartered under the Home Owners' Loan Act in Title 12 of the United States Code, a credit union chartered under chapter 3 of this title, or a credit union chartered under the Federal Credit Union Act in Title 12 of the United States Code. See Montana Code 32-6-103
  • Financial interest: means a legal or beneficial interest that entitles the holder, directly or indirectly, to 1% or more of the net profits or net worth of the entity in which the interest is held. See Montana Code 33-25-105
  • Financing entity: means an underwriter, placement agent, lender, or any entity, other than a nonaccredited investor, that has a direct ownership in a policy or certificate that is the subject of a viatical settlement contract, whose sole activity related to the transaction is the provision of funds to effect the viatical settlement contract, and who has an agreement in writing with one or more licensed viatical settlement providers. See Montana Code 33-20-1302
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
    • You are late making a payment or commit some other default, triggering an increase to a penalty rate
    • The bank changes the terms of your account and you do not reject the change.
    • The rate expires (if the rate was fixed for only a certain period of time).
  • Floor: means an agreement obligating the seller to make payments to the buyer in which each payment is based on the amount by which a predetermined number, sometimes called the floor rate or price, exceeds a price, level, performance, or value of one or more underlying interests. See Montana Code 33-12-102
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Foreign captive insurance company: means any captive insurance company formed under the laws of any jurisdiction other than this state. See Montana Code 33-28-101
  • Foreign corporation: means a corporation that is organized under a law other than the law of this state, including the laws of a federally recognized Indian tribe, and that would be a nonprofit corporation if formed under the laws of this state. See Montana Code 35-2-114
  • Foreign currency: means a currency other than that of a domestic jurisdiction. See Montana Code 33-12-102
  • Foreign entity: means an entity other than a domestic entity. See Montana Code 35-7-102
  • Foreign insurer: means any insurance company licensed to do business in this state under 33-2-116 but not domiciled in this state, or a health organization licensed to do business in this state under Title 33, chapter 31, but not domiciled in this state. See Montana Code 33-2-1902
  • Foreign jurisdiction: means a jurisdiction other than a domestic jurisdiction. See Montana Code 33-12-102
  • Foreign limited liability company: means an entity that is:

    (a) an unincorporated entity;

    (b) organized under a law other than the law of this state, including the laws of a federally recognized Indian tribe;

    (c) organized under a statute pursuant to which an entity may be formed that affords to each of its members limited liability with respect to the liabilities of the entity; and

    (d) not required to be registered or organized under any statute of this state other than this chapter. See Montana Code 35-8-102

  • Foreign limited partnership: means a limited partnership formed under a law other than the law of this state, including the laws of a federally recognized Indian tribe. See Montana Code 35-8-102
  • Foreign professional corporation: means a corporation for profit organized for the purpose of rendering professional services under a law other than the laws of this state, including the laws of a federally recognized Indian tribe. See Montana Code 35-4-109
  • Foreign professional limited liability company: means a limited liability company organized for the purpose of rendering professional services under a law other than the law of this state, including the laws of a federally recognized Indian tribe. See Montana Code 35-8-102
  • Foreign qualification document: means an application for a certificate of authority or other foreign qualification filing with the secretary of state by a foreign entity. See Montana Code 35-7-102
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • form: means one of the types of local government enumerated in 7-3-102 and the type of government described in 7-3-111. See Montana Code 7-3-122
  • Fraud: Intentional deception resulting in injury to another.
  • Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCC
  • Fund: means the unemployment insurance fund established by this chapter to which all contributions and payments in lieu of contributions must be paid and from which all benefits provided under this chapter must be paid. See Montana Code 39-51-201
  • Fund: means the subsequent injury fund in the proprietary fund category. See Montana Code 39-71-901
  • Fund: means the Montana self-insurers guaranty fund established pursuant to 39-71-2609. See Montana Code 39-71-2603
  • Future: means an agreement, traded on a qualified exchange or qualified foreign exchange, to make or take delivery of or effect a cash settlement based on the actual or expected price, level, performance, or value of one or more underlying interests. See Montana Code 33-12-102
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • General partner: means a general partner of a limited partnership. See Montana Code 35-12-1501
  • General public benefit: means a material, positive impact on society and the environment, taken as a whole, as assessed against a third-party standard, from the business and operations of a benefit corporation. See Montana Code 35-1-1402
  • Germane: On the subject of the pending bill or other business; a strict standard of relevance.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Governance interest: means the right under the organic law or organic rules of an entity, other than as a governor, agent, assignee, or proxy, to:

    (a) receive or demand access to information concerning or to the books and records of the entity;

    (b) vote for the election of the governors of the entity; or

    (c) receive notice of or vote on any or all issues involving the internal affairs of the entity. See Montana Code 35-7-102

  • Governing body: means the commission or the town meeting legislative body established in the alternative form of a local government under Title 7, chapter 3, parts 1 through 7. See Montana Code 7-3-122
  • Government money market mutual fund: means a money market mutual fund that at all times:

    (a) invests only in obligations issued, guaranteed, or insured by the federal government of the United States or collateralized repurchase agreements composed of these obligations; and

    (b) qualifies for investment without a reserve under the Purposes and Procedures of the Securities Valuation Office or any successor publication. See Montana Code 33-12-102

  • Government-sponsored enterprise: means a:

    (a) governmental agency; or

    (b) corporation, limited liability company, association, partnership, joint-stock company, joint venture, trust, or other entity or instrumentality organized under the laws of any domestic jurisdiction to accomplish a public policy or other governmental purpose. See Montana Code 33-12-102

  • Governmental facility: means any institution, department, agency, bureau, or office operated by the state of Montana and employing more than 25 persons. See Montana Code 39-2-1002
  • Governor: means a person by or under whose authority the powers of an entity are exercised and under whose direction the business and affairs of the entity are managed pursuant to the organic law and organic rules of the entity. See Montana Code 35-7-102
  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • Grantor: The person who establishes a trust and places property into it.
  • Grievance: means a written complaint or an oral complaint if the complaint involves an urgent care request submitted by or on behalf of a covered person regarding:

    (a) availability, delivery, or quality of health care services, including a complaint regarding an adverse determination made pursuant to utilization review;

    (b) claims payment, handling, or reimbursement for health care services; or

    (c) matters pertaining to the contractual relationship between a covered person and a health insurance issuer. See Montana Code 33-32-102

  • Gross advance amount: means the sum payable to the payee or to the payee's account as consideration for a transfer of a structured settlement payment right before any reduction for a transfer expense or any other deduction is made from the sum. See Montana Code 33-20-1402
  • Gross misconduct: means a criminal act, other than a violation of a motor vehicle traffic law, for which an individual has been convicted in a criminal court or has admitted or conduct that demonstrates a flagrant and wanton disregard of and for the rights, title, or interest of a fellow employee or the employer. See Montana Code 39-51-201
  • Group capital calculation instructions: means the group capital calculation instructions as adopted by the NAIC and as amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC. See Montana Code 33-2-1101
  • Group health insurance coverage: means health insurance coverage offered in connection with a group health plan or health insurance coverage offered to an eligible group as described in 33-22-501. See Montana Code 33-22-140
  • Group health plan: means an employee welfare benefit plan, as defined in 29 U. See Montana Code 33-22-140
  • Group long-term care insurance: means a long-term care insurance policy that is delivered or issued for delivery in this state and issued to:

    (a) (i) one or more employers;

    (ii) a labor organization;

    (iii) a trust established by an employer or labor organization; or

    (iv) a trustee of a fund established by one or more employers or labor organizations or a combination of employers and labor organizations for:

    (A) employees or former employees or a combination of employees and former employees; or

    (B) members or former members of the labor organization or a combination of members and former members;

    (b) any professional, trade, or occupational association for its current, former, or retired members or a combination of current, former, and retired members if the association:

    (i) is composed of individuals all of whom are or were actively engaged in the same profession, trade, or occupation; and

    (ii) has been maintained in good faith for purposes other than obtaining insurance; or

    (c) an association, a trust, or the trustee of a fund established, created, or maintained for the benefit of members of one or more associations. See Montana Code 33-22-1107

  • Groupwide supervisor: means the regulatory official authorized to engage in conducting and coordinating groupwide supervision activities who is determined or acknowledged by the commissioner under 33-2-1140 to have sufficient significant contacts with the internationally active insurance group. See Montana Code 33-2-1101
  • Guaranteed or insured: when used in connection with an obligation acquired under this chapter, means that the guarantor or insurer has agreed to:

    (a) perform or insure the obligation of the obligor or purchase the obligation; or

    (b) be unconditionally obligated until the obligation is repaid to maintain in the obligor a minimum net worth, fixed charge coverage, stockholders' equity, or sufficient liquidity to enable the obligor to pay the obligation in full. See Montana Code 33-12-102

  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Hazardous financial condition: means that, based on its present or reasonably anticipated financial condition, a risk retention group, although not yet financially impaired or insolvent, is unlikely to be able to:

    (a) meet obligations to policyholders with respect to known claims and reasonably anticipated claims; or

    (b) pay other obligations in the normal course of business. See Montana Code 33-11-102

  • Health benefit plan: means a policy or certificate that provides health care insurance or major medical expense insurance or that is offered as a substitute for hospital or medical expense insurance. See Montana Code 33-2-2002
  • Health benefit plan: means a policy, contract, certificate, or agreement entered into, offered, or issued by a health carrier to provide, deliver, arrange for, pay for, or reimburse any of the costs of health care services. See Montana Code 33-2-2402
  • Health benefit plan: means a policy, contract, certificate, or agreement entered into, offered, or issued by a health carrier to provide, deliver, arrange for, pay for, or reimburse any of the costs of health care services. See Montana Code 33-36-103
  • health benefit plan: means a policy, contract, certificate, or agreement entered into, offered, or issued by a health carrier to provide, deliver, arrange for, pay for, or reimburse any of the costs of health care services. See Montana Code 33-1-801
  • Health benefit plan: means the health insurance policy or subscriber arrangement between the insured or subscriber and the health care insurer that defines the covered services and benefit levels available. See Montana Code 33-22-1703
  • Health benefit plan: means any hospital or medical policy or certificate providing for physical and mental health care issued by an insurance company, a fraternal benefit society, or a health service corporation or issued under a health maintenance organization subscriber contract. See Montana Code 33-22-1803
  • Health benefit plan: means any individual or group plan, policy, certificate, subscriber contract, contract of insurance provided by a managed care plan, preferred provider agreement, or health maintenance organization subscriber contract that is issued, delivered, issued for delivery, or renewed in this state by a health carrier that pays for, purchases, or furnishes health care services to covered persons who receive health care services in this state. See Montana Code 33-22-1902
  • Health care insurer: means :

    (a) an insurer that provides disability insurance as defined in 33-1-207;

    (b) a health service corporation as defined in 33-30-101;

    (c) a fraternal benefit society as described in 33-7-105; or

    (d) any other entity regulated by the commissioner that provides health coverage except a health maintenance organization. See Montana Code 33-22-1703

  • Health care professional: means a physician or other health care practitioner licensed, accredited, or certified pursuant to the laws of this state to perform specified health care services consistent with state law. See Montana Code 33-36-103
  • Health care provider: means :

    (a) an individual licensed by the department of labor and industry to practice or who holds a temporary permit to practice a branch of the healing arts;

    (b) a professional corporation organized pursuant to Title 35, chapter 4, by one or more individuals described in subsection (3)(a);

    (c) a Montana limited liability company organized pursuant to Title 35, chapter 8, for the purpose of rendering professional services by individuals described in subsection (3)(a);

    (d) a partnership of individuals described in subsection (3)(a);

    (e) a Montana nonprofit corporation organized pursuant to Title 35, chapter 2, for the purpose of rendering professional health care services by one or more individuals described in subsection (3)(a); or

    (f) a health care facility as defined in 50-5-101. See Montana Code 33-38-102

  • Health care provider: means any person, corporation, facility, or institution of a governmental unit of any state licensed by that state to provide health care, including but not limited to physician, osteopath, registered nurse, licensed practical nurse, dentist, optometrist, podiatrist, hospital, hospital-related facility, or long-term care facility. See Montana Code 33-9-101
  • Health care services: means :

    (a) the services included in furnishing medical or dental care to a person;

    (b) the services included in hospitalizing a person;

    (c) the services incident to furnishing medical or dental care or hospitalization; or

    (d) the services included in furnishing to a person other services for the purpose of preventing, alleviating, curing, or healing illness, injury, or physical disability. See Montana Code 33-31-102

  • Health care services: means services for the diagnosis, prevention, treatment, cure, or relief of a health condition, illness, injury, or disease, including the provision of pharmaceutical products or services or durable medical equipment. See Montana Code 33-32-102
  • Health care services: means services for the diagnosis, prevention, treatment, cure, or relief of a health condition, illness, injury, or disease. See Montana Code 33-36-103
  • Health care services: means health care services or products rendered or sold by a provider within the scope of the provider's license or legal authorization or services provided under Title 33, chapter 22, part 7. See Montana Code 33-22-1703
  • Health care services agreement: means an agreement for health care services between a health maintenance organization and an enrollee. See Montana Code 33-31-102
  • Health carrier: means an entity that is subject to the insurance laws and regulations of this state or to the jurisdiction of the commissioner and that contracts or offers to contract or enters into an agreement to provide, deliver, arrange for, pay for, or reimburse any of the costs of health care services. See Montana Code 33-2-2402
  • Health carrier: means an entity subject to the insurance laws and rules of this state that contracts, offers to contract, or enters into an agreement to provide, deliver, arrange for, pay for, or reimburse any of the costs of health care services, including a disability insurer, health maintenance organization, or health service corporation or another entity providing a health benefit plan. See Montana Code 33-36-103
  • Health carrier: means an entity that is subject to the insurance laws and rules of this state and that contracts, offers to contract, or enters into an agreement to provide, deliver, arrange for, pay for, or reimburse any of the costs of health care services. See Montana Code 33-1-801
  • Health carrier: means a disability insurer, health care insurer, health maintenance organization, accident and sickness insurer, fraternal benefit society, nonprofit hospital service corporation, health service corporation, health care service plan, preferred provider organization or arrangement, multiple employer welfare arrangement, or any other person, firm, corporation, joint venture, or similar business entity. See Montana Code 33-22-1902
  • Health insurance coverage: means benefits consisting of medical care, including items and services paid for as medical care, that are provided directly, through insurance, reimbursement, or otherwise, under a policy, certificate, membership contract, or health care services agreement offered by a health insurance issuer. See Montana Code 33-22-140
  • Health insurance issuer: means a health insurance issuer, as defined in 33-22-140, that is authorized to do business in this state and its affiliates, as defined in 33-2-1101. See Montana Code 33-38-102
  • Health insurance issuer: has the meaning provided in 33-22-140. See Montana Code 33-32-102
  • Health insurance issuer: means an insurer, a health service corporation, or a health maintenance organization. See Montana Code 33-22-140
  • Health maintenance organization: means a person who provides or arranges for basic health care services to enrollees on a prepaid basis, either directly through provider employees or through contractual or other arrangements with a provider or a group of providers. See Montana Code 33-31-102
  • Health organization: means a health maintenance organization or other managed care organization licensed under Title 33, chapter 31. See Montana Code 33-2-1902
  • Health service corporation: means a nonprofit corporation organized or operating for the purposes of establishing and operating a nonprofit plan or plans under which prepaid hospital care, medical-surgical care, and other health care and services, or reimbursement for the preceding care and services, may be furnished to a member or beneficiary. See Montana Code 33-30-101
  • Health services: means the health care and services provided by hospitals or other health care institutions, organizations, associations, or groups and by doctors of medicine, osteopathy, dentistry, chiropractic, optometry, and podiatry; nursing services; licensed acupuncturist services; licensed social worker, licensed professional counselor, or psychologist services; medical appliances, equipment, and supplies; and drugs, medicines, ambulance services, and other therapeutic services and supplies. See Montana Code 33-30-101
  • Hedging transaction: means a derivative transaction that is entered into and maintained to reduce:

    (a) the risk of a change in the value, yield, price, cash flow, or quantity of assets or liabilities that the insurer has acquired or incurred or anticipates acquiring or incurring; or

    (b) the currency exchange rate risk or the degree of exposure as to assets or liabilities that an insurer has acquired or incurred or anticipates acquiring or incurring. See Montana Code 33-12-102

  • Highly rated: means an investment rated "P-1" by Moody's investors service, inc. See Montana Code 33-12-102
  • Home state: means the District of Columbia or any state or territory of the United States in which a person licensed under this chapter maintains a principal place of residence or a principal place of business. See Montana Code 33-17-102
  • Home state: means , with respect to an insured:

    (i) the state in which the insured maintains its principal place of business or, in the case of an individual, the individual's principal residence;

    (ii) if 100% of the insured risk is located outside the state referred to in subsection (3)(k)(i), the state with the greatest allocated percentage of the insured's taxable premium for that surplus lines insurance contract;

    (iii) if more than one insured from an affiliated group are named insureds on a single surplus lines insurance contract, the home state as determined under subsection (3)(k)(i) or (3)(k)(ii) for the member of the affiliated group that has the largest percentage of premium attributed to it under the surplus lines insurance contract; or

    (iv) if a group policyholder pays 100% of the premium from its own funds, the home state of the group policyholder as determined under subsection (3)(k)(i) or, if a group policyholder does not pay 100% of the premiums from its own funds, the home state of the group member as determined under subsection (3)(k)(i). See Montana Code 33-2-301

  • Hospital: means an institution that has been licensed, certified, or approved by the state as a hospital. See Montana Code 39-51-201
  • Impaired insurer: means a member insurer that is not an insolvent insurer and that is placed under an order of rehabilitation or supervision by a court of competent jurisdiction. See Montana Code 33-10-202
  • in writing: means :

    (a) with respect to internal communications, any record in tangible or electronic form or any form allowed under Title 30, chapter 18, part 1; and

    (b) with respect to external communications, tangible records or any form authorized by the external party. See Montana Code 35-2-114

  • Income: means , as to a security, interest, accrual of discount, dividends, or other distributions, such as rights, tax or assessment credits, warrants, and distributions in kind. See Montana Code 33-12-102
  • Indebtedness: means the total amount payable by a debtor to a creditor in connection with a loan or other credit transaction. See Montana Code 33-21-103
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Independent: means having no material relationship with a benefit corporation or a subsidiary of a benefit corporation. See Montana Code 35-1-1402
  • Independent contractor: means an individual working under an independent contractor exemption certificate provided for in 39-71-417. See Montana Code 39-51-201
  • Independent professional advice: means advice of an attorney, a certified public accountant, an actuary, or any licensed professional adviser. See Montana Code 33-20-1402
  • Independently procured insurance: means surplus lines insurance procured directly by an insured from an eligible surplus lines insurer. See Montana Code 33-2-301
  • Index rate: means , for each class of business for a rating period for small employers with similar case characteristics, the average of the applicable base premium rate and the corresponding highest premium rate. See Montana Code 33-22-1803
  • Indian tribe: means an Indian tribe as defined in the Indian Self-Determination and Education Assistance Act, 25 U. See Montana Code 39-51-201
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Individual: includes the estate of an incompetent individual. See Montana Code 35-2-114
  • Individual: means a natural person. See Montana Code 33-17-102
  • Individual: means a natural person who:

    (a) regarding property or casualty insurance, is a past, present, or proposed named insured or certificate holder;

    (b) regarding life, health, or disability insurance, is a past, present, or proposed principal insured or certificate holder;

    (c) is a past, present, or proposed policyowner;

    (d) is a past or present applicant;

    (e) is a past or present claimant; or

    (f) derived, derives, or is proposed to derive insurance coverage under an insurance policy or certificate subject to this chapter. See Montana Code 33-19-104

  • Individual health insurance coverage: means health insurance coverage offered to individuals in the individual market, but does not include short-term limited duration insurance. See Montana Code 33-22-140
  • Individual market: means the market for health insurance coverage offered to individuals other than in connection with group health insurance coverage. See Montana Code 33-22-140
  • Industrial insured: means an insured:

    (a) who procures the insurance of any risk or risks by use of the services of a full-time employee acting as an insurance manager or buyer;

    (b) whose aggregate annual premiums for insurance on all risks total at least $25,000; and

    (c) who has at least 25 full-time employees. See Montana Code 33-28-101

  • Industrial insured captive insurance company: means any company that insures risks of the industrial insureds that comprise the industrial insured group and their affiliated companies. See Montana Code 33-28-101
  • Industrial insured group: means any group that meets either of the following:

    (a) the group collectively:

    (i) owns, controls, or holds with power to vote all of the outstanding voting securities of an industrial insured captive insurance company incorporated as a stock insurer; or

    (ii) has complete voting control over an industrial insured captive insurance company incorporated as a mutual insurer; or

    (b) the group is a captive risk retention group. See Montana Code 33-28-101

  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Insolvent insurer: means a member insurer that is placed under an order of liquidation by a court of competent jurisdiction upon a finding of insolvency. See Montana Code 33-10-202
  • Insolvent private self-insurer: means an employer:

    (a) (i) that is unable to pay workers' compensation claims because:

    (A) it has been determined to be insolvent by a court of competent jurisdiction; or

    (B) bankruptcy proceedings have been instituted by or against it; or

    (ii) whose claims are not being paid on its behalf; and

    (b) whose security has been exhausted pursuant to 39-71-2108. See Montana Code 39-71-2603

  • Institutional source: means a person or governmental entity that provides information about an individual to an insurance producer, insurance institution, or insurance-support organization, other than:

    (a) an insurance producer;

    (b) the individual who is the subject of the information; or

    (c) a natural person acting in a personal capacity rather than a business or professional capacity. See Montana Code 33-19-104

  • Insurance: means primary insurance, excess insurance, reinsurance, surplus line insurance, and any other arrangement for shifting and distributing risk that is determined to be insurance under the laws of this state. See Montana Code 33-11-102
  • Insurance function: means claims administration, claims adjustment and management, fraud investigation, fraud prevention, underwriting, loss control, ratemaking functions, reinsurance, risk management, case management, disease management, quality assessment, quality improvement, provider credentialing verification, utilization review, peer review activities, subrogation, grievance procedures, insurance transactions, internal administration of compliance and policyholder service functions, and technical, administrative, or professional services related to the provision of the functions described in this subsection. See Montana Code 33-19-104
  • Insurance future: means a future relating to an index or pool that is based on insurance-related items. See Montana Code 33-12-102
  • Insurance futures option: means an option on an insurance future. See Montana Code 33-12-102
  • Insurance group: means those insurers and affiliates included within an insurance holding company system as defined in 33-2-1101. See Montana Code 33-2-2103
  • Insurance holding company system: means two or more affiliated persons, one or more of which is an insurer. See Montana Code 33-2-1101
  • Insurance institution: means a corporation, association, partnership, reciprocal exchange, interinsurer, Lloyd's insurer, fraternal benefit society, or other person engaged in the business of insurance, including health maintenance organizations, and health service corporations as defined in 33-30-101. See Montana Code 33-19-104
  • Insurance premium finance company: means a person engaged in the business of entering into premium finance agreements with insureds or of acquiring such premium finance agreements from insurance producers, brokers, or other premium finance companies. See Montana Code 33-14-102
  • Insurance producer: means a person required to be licensed under the laws of this state to sell, solicit, or negotiate property or casualty insurance. See Montana Code 33-2-1402
  • Insurance producer: means an individual or business entity appointed or authorized by a health maintenance organization to solicit applications for health care services agreements on its behalf. See Montana Code 33-31-102
  • insurance producer: as used in this chapter , means any authorized or acknowledged insurance producer of a society who acts as an insurance producer in the solicitation, negotiation, or sale of a life insurance, accident and health insurance, or annuity contract. See Montana Code 33-7-525
  • insurance producer: means a person or entity required to be licensed under the laws of this state to sell, solicit, or negotiate insurance, including annuities. See Montana Code 33-20-804
  • Insurance producer: means an insurance producer as defined in 33-17-102 and 33-30-311. See Montana Code 33-19-104
  • Insurance transaction: means a transaction involving insurance primarily for personal, family, or household needs, rather than for business or professional needs, that entails:

    (a) the determination of an individual's eligibility for an insurance coverage, benefit, or payment; or

    (b) the servicing of an insurance application, policy, contract, or certificate. See Montana Code 33-19-104

  • Insurance-support organization: means a person who assembles or collects information about natural persons for the purpose of providing the information to an insurance institution or insurance producer for insurance transactions, including:

    (i) the furnishing of consumer reports or investigative consumer reports to an insurance institution or insurance producer for use in connection with an insurance transaction; or

    (ii) the collection of personal information from insurance institutions, insurance producers, or other insurance-support organizations for the purpose of detecting or preventing fraud, material misrepresentation, or material nondisclosure in connection with insurance underwriting or insurance claim activity. See Montana Code 33-19-104

  • Insured: means an individual entitled to reimbursement for expenses of health care services under a policy or subscriber contract issued or administered by an insurer. See Montana Code 33-22-1703
  • Insurer: means an organization that issues property or casualty insurance. See Montana Code 33-2-1402
  • Insurer: includes life or other disability insurers, property and casualty insurers, and health organizations. See Montana Code 33-2-1902
  • Insurer: has the meaning provided in 33-1-201, except that it may not include agencies, authorities, or instrumentalities of the United States, its possessions and territories, the Commonwealth of Puerto Rico, the District of Columbia, or a state or political subdivision of a state. See Montana Code 33-2-2103
  • Insurer: means an insurer authorized to transact property or casualty insurance in this state or an unauthorized insurer transacting surplus lines insurance in this state. See Montana Code 33-15-1102
  • Insurer: means a person licensed to write workers' compensation insurance as a plan No. See Montana Code 33-16-1008
  • Insurer: means a company required to be licensed under the laws of this state to provide insurance products, including annuities. See Montana Code 33-20-804
  • Insurer: means an entity that:

    (a) has written, issued, or reinsured life insurance contracts, accident and health insurance contracts, or deposit-type contracts in Montana and has at least one of the named contracts in force or on claim; or

    (b) has written, issued, or reinsured life insurance contracts, accident and health insurance contracts, or deposit-type contracts in any state and is required to hold a certificate of authority to write life insurance, accident and health insurance, or deposit-type contracts in Montana. See Montana Code 33-2-402

  • Insurer: has the meaning provided in 33-1-201, except that the term does not include agencies, authorities, or instrumentalities of the United States, its possessions and territories, the Commonwealth of Puerto Rico, the District of Columbia, or a state or political subdivision of a state. See Montana Code 33-2-1101
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Inter vivos: Transfer of property from one living person to another living person.
  • Interest: means :

    (a) a governance interest in an unincorporated entity;

    (b) a transferable interest in an unincorporated entity; or

    (c) a share or membership in a corporation. See Montana Code 35-7-102

  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Interested party: means , with respect to a structured settlement, the payee, any beneficiary irrevocably designated under the annuity contract to receive a payment after the payee's death, the annuity issuer, the structured settlement obligor, or any other party that has a continuing right or obligation under the structured settlement. See Montana Code 33-20-1402
  • Intermediary: means a person authorized to negotiate, execute, and be a party to a contract between a health carrier and a provider or between a health carrier and a network. See Montana Code 33-36-103
  • Intermediary: means an entity contracted directly with an insurer or with another entity contracted with an insurer to facilitate the sale of the insurer's annuities by producers. See Montana Code 33-20-804
  • Internal communications: includes any notice, vote, written consent, written ballot, demand, record, member list, corporate record, or any other communication between members, directors, delegates, proxies, third persons under 35-2-232, or the corporate secretary. See Montana Code 35-2-114
  • Internationally active insurance group: means an insurance holding company system that includes an insurer registered under 33-2-1111 and meets the following criteria:

    (a) premiums are written in at least three countries;

    (b) the percentage of gross premiums written outside the United States is at least 10% of the insurance holding company system's total gross written premiums; and

    (c) based on a 3-year rolling average, the total assets of the insurance holding company system are at least $50 billion or the total gross written premiums of the insurance holding company system are at least $10 billion. See Montana Code 33-2-1101

  • Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
  • Intestate: Dying without leaving a will.
  • Investigative consumer report: means a consumer report or portion of a consumer report containing information about a natural person's character, general reputation, personal characteristics, or mode of living obtained through personal interviews with the person's neighbors, friends, associates, acquaintances, or others who may have knowledge concerning this type of information. See Montana Code 33-19-104
  • Investment company: means an investment company as defined in section 80a-3 of the Investment Company Act of 1940 (15 U. See Montana Code 33-12-102
  • Investment company series: means an investment portfolio of an investment company that is organized as a series company and to which assets of the investment company have been specifically allocated. See Montana Code 33-12-102
  • Investment practices: means transactions of the types described in 33-12-208, 33-12-210, 33-12-308, or 33-12-310. See Montana Code 33-12-102
  • Investment strategies: means the techniques and methods used by an insurer to meet its investment objectives, such as active bond portfolio management, passive bond portfolio management, interest rate anticipation, growth investing, and value investing. See Montana Code 33-12-102
  • Investment subsidiary: means a subsidiary of an insurer engaged or organized to engage exclusively in the ownership and management of assets authorized as investments for the insurer if each subsidiary agrees to limit its investment in any asset so that its investments will not cause the amount of the total investment of the insurer to exceed any of the investment limitations or avoid any other provisions of this chapter applicable to the insurer. See Montana Code 33-12-102
  • Issuer: includes insurance companies, fraternal benefit societies, health care service plans, health maintenance organizations, and any entity delivering or issuing for delivery in this state medicare supplement policies or certificates. See Montana Code 33-22-903
  • Joint resolution: A legislative measure which requires the approval of both chambers.
  • Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Knowingly: means only a knowledge that the facts exist which bring the act or omission within the provisions of this code. See Montana Code 1-1-204
  • Labor organization: means any organization or association of any kind in which employees participate and which exists for the primary purpose of dealing with employers concerning grievances, labor disputes, wages, rates of pay, hours of employment, fringe benefits, or other conditions of employment. See Montana Code 39-31-103
  • Lapse: means the expiration of the license for failure to renew by the biennial renewal date. See Montana Code 33-17-102
  • Large employer: means , in connection with a group health plan, with respect to a calendar year and a plan year, an employer who employed an average of at least 51 employees on business days during the preceding calendar year and who employs at least two employees on the first day of the plan year. See Montana Code 33-22-140
  • Large group market: means the health insurance market under which individuals obtain health insurance coverage directly or through any arrangement on behalf of themselves and their dependents through a group health plan or group health insurance coverage issued to a large employer. See Montana Code 33-22-140
  • Late enrollee: means an eligible employee or dependent, other than a special enrollee under 33-22-523, who requests enrollment in a group health plan following the initial enrollment period during which the individual was entitled to enroll under the terms of the group health plan if the initial enrollment period was a period of at least 30 days. See Montana Code 33-22-140
  • Laws: means the society's articles of incorporation, charter, constitution, and bylaws. See Montana Code 33-7-108
  • Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
  • Letter of credit: means a clean, irrevocable, and unconditional letter of credit issued or confirmed by and payable and presentable at a financial institution on the list of financial institutions meeting the standards for issuing letters of credit under the Purposes and Procedures of the Securities Valuation Office or any successor publication. See Montana Code 33-12-102
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Liability: means legal liability for damages, including costs of defense, legal costs and fees, and other claims expenses, because of injuries to other persons, damage to their property, or other damage or loss to other persons resulting from or arising out of:

    (i) a business, whether profit or nonprofit, trade, product, service (including professional service), premises, or operation; or

    (ii) an activity of any state or local government or an agency or political subdivision of state or local government. See Montana Code 33-11-102

  • License: means a document issued by the commissioner that authorizes a person to act as an insurance producer for the lines of authority specified in the document. See Montana Code 33-17-102
  • Licensed and practicing health care provider: means a health care provider who is primarily responsible for the treatment of a person seeking unemployment insurance benefits and who is:

    (a) licensed to practice in this state as:

    (i) a physician under Title 37, chapter 3;

    (ii) a dentist under Title 37, chapter 4;

    (iii) an advanced practice registered nurse under Title 37, chapter 8, and recognized as a nurse practitioner or certified nurse specialist by the board of nursing, established in 2-15-1734;

    (iv) a physical therapist under Title 37, chapter 11;

    (v) a chiropractor under Title 37, chapter 12;

    (vi) a clinical psychologist under Title 37, chapter 17; or

    (vii) a physician assistant under Title 37, chapter 20; or

    (b) with respect to a person seeking unemployment insurance benefits who resides outside of this state, a health care provider licensed or certified as a member of one of the professions listed in subsection (18)(a) in the jurisdiction where the person seeking the benefit lives. See Montana Code 39-51-201

  • Licensee: means a person holding a valid license under this part as an escrow business. See Montana Code 32-7-102
  • Licensee: means a premium finance company holding a license issued by the commissioner under this chapter. See Montana Code 33-14-102
  • Licensee: means :

    (a) an insurance institution, insurance producer, or other person who is licensed or required to be licensed, authorized or required to be authorized, or registered or required to be registered pursuant to this title; or

    (b) a surplus lines insurer. See Montana Code 33-19-104

  • Licensing authority: means an officer, board, agency, court, or other authority in this state that has the power to issue a license or other legal authorization to render a professional service. See Montana Code 35-4-109
  • Licensing authority: means an officer, board, agency, court, or other authority in this state that has the power to issue a license or other legal authorization to render a professional service. See Montana Code 35-8-102
  • Life insurance: means contracts that incorporate mortality risk, including annuity and pure endowment contracts. See Montana Code 33-2-402
  • Life or disability insurer: means :

    (a) any insurance company licensed under 33-2-116 and engaged in the business of entering into contracts of disability insurance, as described in 33-1-207, or life insurance, as described in 33-1-208;

    (b) a licensed property and casualty insurer writing only disability insurance;

    (c) any insurer engaged solely in the business of reinsurance of life or disability contracts;

    (d) a fraternal benefit society formed under Title 33, chapter 7; or

    (e) a health service corporation formed under Title 33, chapter 30. See Montana Code 33-2-1902

  • Limited liability company: means a business organization, excluding partnerships and ordinary business corporations, organized or operating under the laws of the United States or any state that limits the personal liability of investors to the equity investment of the investor in the business entity. See Montana Code 33-12-102
  • Limited line credit insurance: includes credit life insurance, credit disability insurance, credit property insurance, credit unemployment insurance, involuntary unemployment insurance, mortgage life insurance, mortgage guaranty insurance, mortgage disability insurance, gap insurance, and any other form of insurance offered in connection with an extension of credit that is limited to partially or wholly extinguishing the credit obligation and that the commissioner determines should be designated as a form of limited line credit insurance. See Montana Code 33-17-102
  • Limited lines insurance: means those lines of insurance that the commissioner finds necessary to recognize for the purposes of complying with 33-17-401(3). See Montana Code 33-17-102
  • Limited lines producer: means a person authorized by the commissioner to sell, solicit, or negotiate limited lines insurance. See Montana Code 33-17-102
  • Limited lines travel insurance producer: means a:

    (a) managing general agent or third-party administrator; or

    (b) licensed insurance producer, including a limited lines producer, designated by an insurer as the travel insurance supervising entity as set forth in 33-17-1404. See Montana Code 33-17-1401

  • Limited partnership: means a limited partnership formed under the laws of this state or a foreign limited partnership. See Montana Code 35-8-102
  • Lines of authority: means any kind of insurance as defined in Title 33. See Montana Code 33-17-102
  • livestock: includes ostriches, rheas, and emus. See Montana Code 39-3-402
  • Location: means any physical location in this state or any website, call center site, or similar location directed to residents of this state. See Montana Code 33-24-202
  • Location: means any physical location in this state. See Montana Code 33-24-302
  • Lodge: means subordinate member units of the society, known as camps, courts, councils, or branches or by any other designation. See Montana Code 33-7-108
  • Loss trending: means a procedure for projecting developed losses to the average date of loss for the period during which the policies are to be effective, including loss ratio trending. See Montana Code 33-16-1008
  • Lower-grade investment: means a rated credit instrument rated 4, 5, or 6 by the SVO. See Montana Code 33-12-102
  • Majority leader: means the leader of the majority party, elected by the caucus as provided in 5-2-221. See Montana Code 1-1-208
  • Majority leader: see Floor Leaders
  • Majority whip: See Whips.
  • Managed care organization: means an entity that manages, owns, contracts with, or employs health care providers to provide health care services under a health plan. See Montana Code 33-1-801
  • Managed care plan: means a health benefit plan that either requires or creates incentives, including financial incentives, for a covered person to use health care providers managed, owned, under contract with, or employed by a health carrier, but not preferred provider organizations or other provider networks operated in a fee-for-service indemnity environment. See Montana Code 33-36-103
  • Management official: means a representative of management having authority to act for the agency on any matters relating to the implementation of agency policy. See Montana Code 39-31-103
  • Manager: means a person who, whether or not a member of a manager-managed company, is vested with authority under 35-8-301. See Montana Code 35-8-102
  • Manager-managed company: means a limited liability company that is so designated in its articles of organization. See Montana Code 35-8-102
  • Manufacturer: has the meaning provided in 37-7-602. See Montana Code 33-2-2402
  • Market: means the interaction in this state between buyers and plan No. See Montana Code 33-16-1008
  • Market value: means :

    (a) as to cash and letters of credit, the amounts of cash or a letter of credit; and

    (b) as to a security, as of any date, the price for the security on that date obtained from a generally recognized source or the most recent quotation from a generally recognized source or, to the extent that a generally recognized source does not exist, the price for the security as determined in good faith by the parties to a transaction, plus accrued but unpaid income on a security to the extent not included in the price as of that date. See Montana Code 33-12-102

  • Match: means a search of the death master file that results in a match of the social security number or the name and date of birth of an insured, annuitant, or retained asset account owner. See Montana Code 33-20-1604
  • Medical care: means :

    (a) the diagnosis, cure, mitigation, treatment, or prevention of disease or amounts paid for the purpose of affecting any structure or function of the body;

    (b) transportation primarily for and essential to medical care referred to in subsection (19)(a); or

    (c) insurance covering medical care referred to in subsections (19)(a) and (19)(b). See Montana Code 33-22-140

  • Medical care discount card: means a paper or plastic device or other mechanism, arrangement, account, or other device that does not constitute insurance, as defined in 33-1-201, that purports to grant, for consideration, a discount or access to a discount in a medical care-related purchase from a health care provider. See Montana Code 33-38-102
  • Medical care discount card supplier: means a person engaged in selling or furnishing, either as principal or agent, for consideration, one or more medical care discount cards to another person or persons. See Montana Code 33-38-102
  • Medical care institution: means a facility or institution that is licensed to provide health care services to natural persons, including but not limited to health maintenance organizations, home health agencies, hospitals, medical clinics, public health agencies, rehabilitation agencies, and skilled nursing facilities. See Montana Code 33-19-104
  • Medical communication: means :

    (a) a communication made by a health care provider to an enrollee or to the guardian or other legal representative of an enrollee receiving health care services from the provider:

    (i) concerning the mental or physical health care needs or treatment of the enrollee and the provisions, terms, or requirements of the health plan or another health plan relating to the needs or treatment of the enrollee; and

    (ii) including a communication concerning:

    (A) a test, consultation, or treatment option and a risk or benefit associated with the test, consultation, or option;

    (B) variation among health care providers and health care facilities, as defined in 50-5-101, in experience, quality of health care services, or health outcomes;

    (C) the basis or standard for the decision of the enrollee's health carrier or managed care organization to authorize or deny a health care service;

    (D) the process used by the enrollee's health carrier or managed care organization to determine whether to authorize or deny a health care service; or

    (E) a financial incentive or disincentive provided by the enrollee's health carrier or managed care organization to a health care provider to authorize or deny a health care service;

    (b) a communication made by a health care provider to another health care provider, an employee or contractor of the enrollee's managed care organization, or an employee of the health carrier advocating a particular method of treatment on behalf of an enrollee. See Montana Code 33-1-801

  • Medical necessity: means health care services that a health care provider exercising prudent clinical judgment would provide to a patient for the purpose of preventing, evaluating, diagnosing, treating, curing, or relieving a health condition, illness, injury, or disease or its symptoms and that are:

    (a) in accordance with generally accepted standards of practice;

    (b) clinically appropriate in terms of type, frequency, extent, site, and duration and are considered effective for the patient's illness, injury, or disease; and

    (c) not primarily for the convenience of the patient or health care provider and not more costly than an alternative service or sequence of services at least as likely to produce equivalent therapeutic or diagnostic results as to the diagnosis or treatment of the patient's illness, injury, or disease. See Montana Code 33-32-102

  • Medical professional: means a person who is licensed or certified to provide health care services to natural persons, including but not limited to a chiropractor, clinical dietitian, clinical psychologist, dentist, nurse, occupational therapist, optometrist, pharmacist, physical therapist, physician, podiatrist, psychiatric social worker, or speech-language pathologist. See Montana Code 33-19-104
  • Medical record information: means personal information that:

    (a) relates to an individual's physical or mental condition, medical history, medical claims history, or medical treatment; and

    (b) is obtained from a medical professional or medical care institution, from the individual, or from the individual's spouse, parent, or legal guardian. See Montana Code 33-19-104

  • Medically necessary: means services, medicines, or supplies that are necessary and appropriate for the diagnosis or treatment of a covered person's illness, injury, or medical condition according to accepted standards of medical practice and that are not provided only as a convenience. See Montana Code 33-36-103
  • Medicare: means Health Insurance for the Aged, Title XVIII of the Social Security Amendments of 1965, as then constituted or later amended. See Montana Code 33-22-903
  • Medicare supplement policy: means a group or individual policy of disability insurance or a subscriber contract of a health service corporation, other than a policy issued pursuant to a contract under 42 U. See Montana Code 33-22-903
  • Medium-grade investment: means a rated credit instrument rated 3 by the SVO. See Montana Code 33-12-102
  • Member: means each incorporator of a cooperative and each person admitted to and retaining membership in a cooperative as provided by the articles of incorporation or bylaws of the cooperative, including persons admitted to joint membership. See Montana Code 35-18-102
  • Member: means a sole proprietorship or business entity that belongs to an association. See Montana Code 33-28-101
  • Member: means an employer bound by compensation plan No. See Montana Code 39-71-2603
  • Member: means , without regard to what a person is called in the articles or bylaws, a person or persons who, on more than one occasion and pursuant to a provision of a corporation's articles or bylaws, have the right to vote for the election of a director or directors. See Montana Code 35-2-114
  • Member: means a person who has been admitted to membership in a limited liability company, as provided in 35-8-703, and who has not dissociated from the limited liability company. See Montana Code 35-8-102
  • Member bank: means a national bank, state bank, or trust company that is a member of the federal reserve system and through which an insurance company participates in the federal reserve book-entry system. See Montana Code 33-3-451
  • Member insurer: means an insurer, health service corporation, or health maintenance organization that is licensed or that holds a certificate of authority to transact any kind of insurance in this state for which coverage is provided under this part and includes any insurer, health service corporation, or health maintenance organization whose license or certificate of authority in this state may have been suspended, revoked, not renewed, or voluntarily withdrawn. See Montana Code 33-10-202
  • Member-managed company: means a limited liability company other than a manager-managed company. See Montana Code 35-8-102
  • Membership: refers to the rights and obligations a member or members have pursuant to a corporation's articles, bylaws, and this chapter. See Montana Code 35-2-114
  • Membership contract: means any agreement, contract, or certificate by which a health service corporation describes the health services or benefits provided to its members or beneficiaries. See Montana Code 33-30-101
  • Merchant: means a natural person, corporation, partnership, or association engaged in buying and selling goods or services, except that a financial institution is not a merchant. See Montana Code 32-6-103
  • Minimum status vote: means :

    (a) in the case of a corporation, that in addition to any other approval or vote required by law or by the articles of incorporation:

    (i) the shareholders of every class or series are entitled to vote on the corporate action regardless of any limitation stated in the articles of incorporation; and

    (ii) the corporate action must be approved by the outstanding shares of each class or series by at least two-thirds of the votes that all shareholders of the class or series are entitled to cast on that action or by a greater vote if required in the articles of incorporation; or

    (b) in the case of a domestic business entity other than a corporation and in addition to any other approval, vote, or consent required by law that principally governs the internal affairs of the domestic business entity or any provision of the publicly filed record or document required to form the domestic business entity, if any, or of any agreement binding some or all of the holders of equity interests in the entity:

    (i) the holders of every class or series of interest in the entity that are entitled to receive a distribution of any kind from the entity are entitled to vote on the action regardless of any otherwise applicable limitation on the voting rights of the interest; and

    (ii) the action must be approved by the vote or consent of the holders described in subsection (6)(b)(i) by at least two-thirds of the votes of the holders or by a greater vote if required in the publicly filed record, document, or agreement binding holders of equity interests. See Montana Code 35-1-1402

  • Minority leader: means the leader of the minority party, elected by the caucus as provided in 5-2-221. See Montana Code 1-1-208
  • Minority leader: See Floor Leaders
  • Minority whip: See Whips.
  • Misconduct: includes but is not limited to the following conduct by an employee:

    (i) willful or wanton disregard of the rights, title, and interests of a fellow employee or the employer, including:

    (A) insubordination showing a deliberate, willful, or purposeful refusal to follow the reasonable directions, processes, or instructions of the employer;

    (B) repeated inexcusable tardiness following warnings by the employer;

    (C) dishonesty related to employment, including but not limited to deliberate falsification of company records, theft, deliberate deception, or lying;

    (D) false statements made as part of a job application process, including but not limited to deliberate falsification of the individual's criminal history, work record, or educational or licensure achievements;

    (E) repeated and inexcusable absences, including absences for which the employee was able to give advance notice and failed to do so;

    (F) deliberate acts that are illegal, provoke violence or violation of the law, or violate a collective bargaining agreement by which the employee is covered. See Montana Code 39-51-201

  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Money market mutual fund: means a mutual fund that meets the conditions of 17 CFR 270. See Montana Code 33-12-102
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: means an obligation secured by a mortgage, deed of trust, trust deed, or other consensual lien on real estate. See Montana Code 33-12-102
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Motor vehicle: means a vehicle propelled by its own power and designed primarily to transport persons or property on the highways of the state. See Montana Code 33-23-204
  • Motor vehicle liability policy: means a policy of automobile or motor vehicle insurance against liability required under Title 61, chapter 6, parts 1 and 3, and all additional coverages included in or added to the policy by rider, endorsement, or otherwise, whether or not required under Title 61, including, without limitation, uninsured, underinsured, and medical payment coverages. See Montana Code 33-23-204
  • Multilateral development bank: means an international development organization of which the United States is a member. See Montana Code 33-12-102
  • Multiple employer welfare arrangement: means a multiple employer welfare arrangement as defined by 29 U. See Montana Code 33-35-103
  • Multistate risk: means a risk covered by an unauthorized insurer with insured exposures in more than one state. See Montana Code 33-2-301
  • Mutual benefit corporation: means a domestic corporation designated as a mutual benefit corporation. See Montana Code 35-2-114
  • Mutual fund: means an investment company or an investment company series that is registered with the United States securities and exchange commission under the Investment Company Act of 1940 (15 U. See Montana Code 33-12-102
  • Mutual insurer: means a business entity without capital stock and with a governing body elected by the policyholders. See Montana Code 33-28-101
  • NAIC: means the national association of insurance commissioners. See Montana Code 33-2-1101
  • NAIC: means the national association of insurance commissioners. See Montana Code 33-2-1902
  • NAIC: means the national association of insurance commissioners. See Montana Code 33-2-2103
  • NAIC: means the national association of insurance commissioners. See Montana Code 33-12-102
  • NAIC: means the national association of insurance commissioners. See Montana Code 33-2-402
  • NAIC liquidity stress test framework: means a separate NAIC publication that includes a history of the NAIC's development of regulatory liquidity stress testing, the scope criteria applicable for a specific data year, and the liquidity stress test instructions and reporting templates for a specific data year, the scope criteria, instructions, and reporting template as adopted by the NAIC and as amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC. See Montana Code 33-2-1101
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Natural disaster multiperil insurance: means any combination of flood, earthquake, and landslide insurance that may be sold as surplus lines insurance. See Montana Code 33-2-301
  • Navigator: means a person certified by the commissioner under 33-17-241 and selected to perform the activities and duties identified in 42 U. See Montana Code 33-17-102
  • Negative trend: means , with respect to a life or health insurer, a negative trend over a period of time, as determined in accordance with the trend test calculation included in the RBC instructions. See Montana Code 33-2-1902
  • Negotiate: means the act of conferring directly with or offering advice directly to a purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms, or conditions of the contract if the person engaged in negotiation either sells insurance or obtains insurance from insurers for purchasers. See Montana Code 33-17-102
  • Net advance amount: means the gross advance amount minus the aggregate amount of the actual and estimated transfer expenses required to be disclosed under 33-20-1403(5). See Montana Code 33-20-1402
  • Network: means the group of participating providers providing services to a managed care plan. See Montana Code 33-32-102
  • Network: means the group of participating providers that provides health care services to a managed care plan. See Montana Code 33-36-103
  • Network plan: means health insurance coverage offered by a health insurance issuer under which the financing and delivery of medical care, including items and services paid for as medical care, are provided, in whole or in part, through a defined set of providers under contract with the issuer. See Montana Code 33-22-140
  • New business premium rate: means , for each class of business for a rating period, the lowest premium rate charged or offered or that could have been charged or offered by the small employer carrier to small employers with similar case characteristics for newly issued health benefit plans with the same or similar coverage. See Montana Code 33-22-1803
  • No-additional-cost service: has the meaning provided in section 132 of the Internal Revenue Code, 26 U. See Montana Code 39-51-201
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • Noncash compensation: means any form of compensation that is not cash compensation, including but not limited to health insurance, office rent, office support, and retirement benefits. See Montana Code 33-20-804
  • Noncommercial registered agent: means a person that is not listed as a commercial registered agent under 35-7-106 and that is an individual or a domestic or foreign entity that serves in this state as the agent for service of process of an entity. See Montana Code 35-7-102
  • Nonguaranteed elements: means the premiums, credited interest rates including any bonuses, benefits, values, dividends, noninterest-based credits, charges, or elements of formulas used to determine any of these that are subject to company discretion and are not guaranteed at issue. See Montana Code 33-20-804
  • Nonqualified foreign entity: means a foreign entity that is not authorized to transact business in this state pursuant to a filing with the secretary of state. See Montana Code 35-7-102
  • Notice: means that term as described in 35-2-115. See Montana Code 35-2-114
  • Oath: includes an affirmation or declaration. See Montana Code 1-1-201
  • Oath: A promise to tell the truth.
  • Obligation: means a bond, note, debenture, trust certificate including an equipment certificate, production payment, negotiable bank certificate of deposit, bankers' acceptance, credit tenant loan, loan secured by financing net leases, and other evidence of indebtedness for the payment of money (or participations, certificates, or other evidences of an interest in any of the foregoing), whether constituting a general obligation of the issuer or payable only out of certain revenue or certain funds pledged or otherwise dedicated for payment. See Montana Code 33-12-102
  • Obstetrician or gynecologist: means a physician who is board-eligible or board-certified by the American board of obstetrics and gynecology. See Montana Code 33-22-1902
  • Occupation: means an occupation, service, trade, business, industry, or branch or group of industries or employment or class of employment in which employees are gainfully employed. See Montana Code 39-3-402
  • Offer and disseminate: means providing general information, including a description of coverage and price, as well as processing applications, collecting premiums, and performing other activities not requiring licensure by the state. See Montana Code 33-17-1401
  • Open plan: means a managed care plan other than a closed plan that provides incentives, including financial incentives, for covered persons to use participating providers under the terms of the managed care plan. See Montana Code 33-36-103
  • Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) Source: OCC
  • Operating agreement: means an agreement, including amendments, as to the conduct of the business and affairs of a limited liability company and the relations among the members, managers, and the company that is binding upon all of the members. See Montana Code 35-8-102
  • Operator: means a business entity that is the owner, operator, lessor, or sublessor of a self-storage facility or an agent or another person authorized to manage the facility or to receive rent from a renter under a rental agreement. See Montana Code 33-24-302
  • Option: means an agreement giving the buyer the right to buy or receive (a "call option"), sell or deliver (a "put option"), enter into, extend or terminate, or effect a cash settlement based on the actual or expected price, level, performance, or value of one or more underlying interests. See Montana Code 33-12-102
  • Organic law: means the statutes, if any, other than this chapter, governing the internal affairs of an entity. See Montana Code 35-7-102
  • Organic rules: means the public organic document and private organic rules of an entity. See Montana Code 35-7-102
  • Organization: means a general partnership, including a limited liability partnership; a limited partnership, including a limited liability limited partnership; a limited liability company; a business trust; a corporation; or any other person having a governing statute. See Montana Code 35-12-1501
  • Organizational document: means articles of incorporation, articles of organization, a subscribers' agreement, a charter, or any other document that establishes a business entity. See Montana Code 33-28-101
  • Organizational document: means :

    (a) for a domestic or foreign general partnership, its partnership agreement;

    (b) for a limited partnership or foreign limited partnership, its certificate of limited partnership and partnership agreement;

    (c) for a domestic or foreign limited liability company, its articles of organization and operating agreement or comparable records as provided in its governing statute;

    (d) for a business trust, its agreement of trust and declaration of trust;

    (e) for a domestic or foreign corporation for profit, its articles of incorporation, bylaws, and other agreements among its shareholders that are authorized by its governing statute or comparable records as provided in its governing statute; and

    (f) for any other organization, the basic records that create the organization and determine its internal governance and the relations among the persons that own it, have an interest in it, or are members of it. See Montana Code 35-12-1501

  • Other prescription drug or device services: means services other than claims processing services that are provided directly or indirectly, whether in connection with or separate from claims processing services, including but not limited to:

    (a) negotiating rebates, discounts, or other financial incentives and arrangements with manufacturers, wholesale distributors, or other third parties;

    (b) disbursing or distributing rebates;

    (c) managing or participating in incentive programs or arrangements for pharmacist services;

    (d) negotiating or entering into contractual arrangements with pharmacists, pharmacies, or both;

    (e) developing and maintaining formularies;

    (f) designing prescription drug benefit programs;

    (g) advertising or promoting services; or

    (h) administering prior authorization, step therapy, case management, or other utilization review programs. See Montana Code 33-2-2402

  • Other professional: means an attorney, certified public accountant, public accountant, architect, veterinarian, pharmacist, and professional engineer licensed or otherwise legally authorized by a state to render professional services. See Montana Code 33-9-101
  • Oversight: Committee review of the activities of a Federal agency or program.
  • PACE organization: means an organization, as defined in 42 CFR 460. See Montana Code 33-31-102
  • Parent: means a sole proprietorship, business entity, or individual that directly or indirectly owns, controls, or holds with power to vote more than 50% of the outstanding voting securities of a captive insurance company. See Montana Code 33-28-101
  • Participant: means a sole proprietorship or business entity and any affiliates that are insured by a protected cell captive insurance company in which the losses of the participant are limited through a participant contract to the participant's share of the assets of one or more protected cells identified in the participant contract. See Montana Code 33-28-101
  • Participant contract: means a contract by which a protected cell captive insurance company insures the risks of a participant and limits the losses of each participant in the contract. See Montana Code 33-28-101
  • Participating obstetrician or gynecologist: means an obstetrician or gynecologist who is employed by or under contract with a health benefit plan. See Montana Code 33-22-1902
  • Participating provider: means a health care provider who, under a contract with a health insurance issuer or with its contractor or subcontractor, has agreed to provide health care services to covered persons with the expectation of receiving payment, other than coinsurance, copayments, or deductibles, directly or indirectly from the health insurance issuer. See Montana Code 33-32-102
  • Participating provider: means a provider who, under a contract with a health carrier or with the health carrier's contractor, subcontractor, or intermediary, has agreed to provide health care services to covered persons with an expectation of receiving payment, other than coinsurance, copayments, or deductibles, directly or indirectly from the health carrier. See Montana Code 33-36-103
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Party: means a recipient of a notice or document required as part of an insurance transaction and includes an applicant, insured, policyholder, certificate holder, or annuity contract holder. See Montana Code 33-15-601
  • Payee: means an individual who is receiving tax-free payments under a structured settlement and proposes to make a transfer of the payment rights. See Montana Code 33-20-1402
  • Payment parameters: means the attachment point, reinsurance cap, and coinsurance rate for the Montana reinsurance program. See Montana Code 33-22-1303
  • Peace officer: has the meaning as defined in 46-1-202. See Montana Code 1-1-207
  • Periodic payment: includes both a recurring payment and any scheduled future lump-sum payments. See Montana Code 33-20-1402
  • Person: means an individual, a corporation, a partnership, an association, a joint-stock company, a trust, an unincorporated organization, any similar entity, or any combination of the foregoing acting in concert. See Montana Code 33-2-1101
  • Person: means an individual, partnership, corporation, association, or other legal entity, including any government or governmental subdivision or agency. See Montana Code 33-2-1402
  • Person: includes one or more individuals, labor organizations, public employees, associations, corporations, legal representatives, trustees, trustees in bankruptcy, or receivers. See Montana Code 39-31-103
  • Person: means an individual, partnership, corporation, association, or any other business organization. See Montana Code 32-6-103
  • Person: means :

    (a) an individual;

    (b) a group of individuals;

    (c) an insurer, as defined in 33-1-201;

    (d) a health service corporation, as defined in 33-30-101;

    (e) a corporation, partnership, facility, association, or trust; or

    (f) an institution of a governmental unit of any state licensed by that state to provide health care, including but not limited to a physician, hospital, hospital-related facility, or long-term care facility. See Montana Code 33-31-102

  • Person: means any individual, corporation, limited liability company, partnership, association, governmental body or entity, or voluntary organization. See Montana Code 33-10-202
  • Person: has the meaning provided in 33-1-202. See Montana Code 33-12-102
  • Person: means an individual, a corporation, a partnership, an association, a joint venture, a joint stock company, a trust, an unincorporated organization, or any similar entity or combination of entities in this subsection. See Montana Code 33-32-102
  • Person: includes any individual or entity. See Montana Code 35-2-114
  • Person: means an individual, cooperative, association, company, firm, partnership, corporation, or other legal entity. See Montana Code 32-7-102
  • Person: means an individual or a business entity. See Montana Code 33-17-102
  • Person: means an individual, corporation, estate, trust, partnership, limited liability company, business or similar trust, association, joint venture, public corporation, government, governmental subdivision, agency, instrumentality, or any other legal or commercial entity. See Montana Code 35-7-102
  • Person: means a natural person, corporation, association, partnership, or other legal entity. See Montana Code 33-19-104
  • Person: means an individual, a general partnership, a limited partnership, a domestic or foreign limited liability company, a trust, an estate, an association, a corporation, or any other legal or commercial entity. See Montana Code 35-8-102
  • Person: includes any natural person, firm, association, corporation, business trust, partnership, federal agency, state or political subdivision or an agency of a state or political subdivision, or other organization or group of persons. See Montana Code 35-18-102
  • Person with a disability: means a person who has a medically certifiable permanent impairment that is a substantial obstacle to obtaining employment or to obtaining reemployment if the person should become unemployed, considering such factors as the person's age, education, training, experience, and employment rejection. See Montana Code 39-71-901
  • Personal information: means any individually identifiable information gathered in connection with an insurance transaction from which judgments can be made about an individual's character, habits, avocations, finances, occupation, general reputation, credit, health, or any other personal characteristics. See Montana Code 33-19-104
  • Personal liability: means personal liability for a debt, liability, or other obligation of an organization that is imposed on a person that co-owns, has an interest in, or is a member of the organization:

    (a) by the organization's governing statute solely by reason of the person co-owning, having an interest in, or being a member of the organization; or

    (b) by the organization's organizational documents under a provision of the organization's governing statute authorizing those documents to make one or more specified persons liable for all or specified debts, liabilities, and other obligations of the organization solely by reason of the person or persons co-owning, having an interest in, or being a member of the organization. See Montana Code 35-12-1501

  • Personal property: means movable property not affixed to land. See Montana Code 33-24-302
  • personal risk liability: means liability for damages because of injury to any person, damage to property, or other loss or damage resulting from personal, familial, or household responsibilities or activities rather than from responsibilities or activities referred to in subsection (5)(a). See Montana Code 33-11-102
  • Pharmacist: has the meaning provided in 33-22-170. See Montana Code 33-2-2402
  • Pharmacist services: means products, goods, and services or any combination of products, goods, and services provided as part of the practice of pharmacy. See Montana Code 33-2-2402
  • Pharmacy: means an established location, either physical or electronic, that is licensed by the board of pharmacy pursuant to Title 37, chapter 7. See Montana Code 33-2-2402
  • Pharmacy benefit manager: means a person, including a wholly or partially owned or controlled subsidiary of a pharmacy benefit manager, that provides claims processing services or other prescription drug or device services, or both, to:

    (i) enrollees who are residents of this state, for health benefit plans; or

    (ii) injured workers of workers' compensation insurance carriers. See Montana Code 33-2-2402

  • Pharmacy discount card: means a paper or plastic device or other mechanism, arrangement, account, or other device that does not constitute insurance, as defined in 33-1-201, that purports to grant, for consideration, a discount or access to a discount on one or more prescription drugs, and that is not combined with another type of medical care discount. See Montana Code 33-38-102
  • Pharmacy discount card supplier: means a person engaged in selling or furnishing, either as a principal or agent, for consideration, one or more pharmacy discount cards to another person or persons. See Montana Code 33-38-102
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Plan: means a health maintenance organization operated by an insurer or health service corporation as an integral part of the corporation and not as a subsidiary. See Montana Code 33-31-102
  • Plan of government: has the meaning provided in 7-1-4121. See Montana Code 7-3-122
  • Plan of operation or a feasibility study: means an analysis that presents the expected activities and results of a risk retention group, including at a minimum:

    (a) the coverages, deductibles, coverage limits, rates, and rating classification systems for each line of insurance the group intends to offer;

    (b) historical and expected loss experience of the proposed members and national experience of similar exposures to the extent this experience is reasonably available;

    (c) pro forma financial statements and projections;

    (d) appropriate opinions by a qualified independent casualty actuary, including a determination of minimum premium or participation levels required to commence operations and to prevent a hazardous financial condition;

    (e) identification of management, underwriting procedures, managerial oversight methods, and investment policies; and

    (f) other matters as may be prescribed by the commissioner for liability insurance companies authorized by the insurance laws of the state where the risk retention group is chartered. See Montana Code 33-11-102

  • Plan sponsor: has the meaning provided in 33-10-202. See Montana Code 33-2-2402
  • Plan sponsor: means :

    (a) the employer in the case of a benefit plan established or maintained by a single employer;

    (b) the employee organization in the case of a benefit plan established or maintained by an employee organization; or

    (c) in the case of a benefit plan established or maintained by two or more employers or jointly by one or more employers and one or more employee organizations, the association, committee, joint board of trustees, or other similar group of representatives of the parties who establish or maintain the benefit plan. See Montana Code 33-10-202

  • Plan sponsor: has the meaning provided under section 3(16)(B) of the Employee Retirement Income Security Act of 1974, 29 U. See Montana Code 33-22-140
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Plea agreement: An arrangement between the prosecutor, the defense attorney, and the defendant in which the defendant agrees to plead guilty in exchange for special considerations. Source:
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Point-of-service option: means a delivery system that permits an enrollee of a health maintenance organization to receive health care services from a provider who is, under the terms of the enrollee's contract for health care services with the health maintenance organization, not on the provider panel of the health maintenance organization. See Montana Code 33-31-102
  • Policy: means a policy that provides a death benefit. See Montana Code 33-20-1604
  • Policy: means any policy, certificate, contract, membership contract, subscriber agreement, health care services agreement, rider, or endorsement delivered or issued for delivery in this state by an insurer, fraternal benefit society, health service corporation, prepaid health plan, health maintenance organization, or similar organization. See Montana Code 33-22-1107
  • Policyholder: means a person who:

    (a) in the case of individual property or casualty insurance, is a present named insured;

    (b) in the case of individual life, health, or disability insurance, is a present policyowner; or

    (c) in the case of group insurance that is individually underwritten, is a present group certificate holder. See Montana Code 33-19-104

  • Policyholder behavior: means any action taken by a policyholder, a contract holder, or any other person with the right to elect options, such as the action that a certificate holder may take under a policy or a contract subject to this part. See Montana Code 33-2-402
  • Portable electronics: means electronic devices that are portable in nature and their accessories. See Montana Code 33-24-202
  • Portable electronics insurance: means insurance providing coverage for the repair or replacement of portable electronics that may provide coverage for portable electronics against loss, theft, inoperability due to mechanical failure, malfunction, damage, or other similar causes of loss. See Montana Code 33-24-202
  • Portable electronics transaction: means :

    (a) the sale or lease of portable electronics by a vendor to a customer; or

    (b) the sale of a service related to the use of portable electronics by a vendor to a customer. See Montana Code 33-24-202

  • Potential exposure: means the amount determined in accordance with the NAIC Annual Statement Instructions. See Montana Code 33-12-102
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Preexisting condition: means a condition for which medical advice or treatment was recommended by or received from a provider of health care services within 6 months preceding the effective date of coverage of an insured person. See Montana Code 33-22-1107
  • Preexisting condition exclusion: means , with respect to coverage, a limitation or exclusion of benefits relating to a condition based on presence of a condition before the enrollment date coverage, whether or not any medical advice, diagnosis, care, or treatment was recommended or received before the enrollment date. See Montana Code 33-22-140
  • Preferred provider: means a provider or group of providers who have contracted to provide specified health care services. See Montana Code 33-22-1703
  • Preferred provider agreement: means a contract between or on behalf of a health care insurer and a preferred provider. See Montana Code 33-22-1703
  • Preferred provider organization company: means a company that contracts with health care providers for lower fees than those customarily charged by the health care provider for services and contracts with health insurance issuers, administrators, or self-insured employers to provide access to those lower fees to a particular group of insureds, subscribers, participants, beneficiaries, members, or claimants. See Montana Code 33-38-102
  • Preferred stock: means preferred, preference, or guaranteed stock of a business entity authorized to issue the stock that has a preference in liquidation over the common stock of the business entity. See Montana Code 33-12-102
  • Preliminary report: means an offer to issue a title insurance policy subject to any exceptions stated in the report or other matters that may be incorporated by reference therein. See Montana Code 33-25-105
  • Premises: means those locations where, by applicable law, financial institutions are authorized to maintain a principal place of business and other offices for the conduct of their respective businesses. See Montana Code 32-6-103
  • Premium: means the contractual consideration charged to an insured for insurance for a specified period of time, regardless of the timing of actual charges. See Montana Code 33-15-1102
  • Premium: means all money paid by a small employer and eligible employees as a condition of receiving coverage from a small employer carrier, including any fees or other contributions associated with the health benefit plan. See Montana Code 33-22-1803
  • Premium finance agreement: means an agreement by which an insured or prospective insured promises to pay to a premium finance company the amount advanced or to be advanced under the agreement to an insurer or to an insurance producer or broker in payment of premiums on an insurance contract, together with a finance charge as authorized by this chapter, and as security therefor the insurance premium finance company receives an assignment of the unearned premium. See Montana Code 33-14-102
  • Premiums: means premiums, rates, dues, or other required contributions that are payable under the certificate. See Montana Code 33-7-108
  • Premiums: means the amount or consideration received on covered policies or contracts less return premiums, considerations, and deposits, and less dividends and experience credits. See Montana Code 33-10-202
  • Prescription drug provider: means a pharmacy or other business that is contractually bound to provide a discount on one or more prescription drugs in conjunction with the use of a pharmacy discount card. See Montana Code 33-38-102
  • presence: includes any form of electronic, virtual, or digital presence authorized by a corporation's articles or bylaws. See Montana Code 35-2-114
  • presence: includes in-person or any form of presence utilizing remote communication authorized by a cooperative's articles or bylaws. See Montana Code 35-18-102
  • Present rental vehicle insurance information: means to present the option to acquire rental vehicle insurance to a renter. See Montana Code 33-17-1501
  • Preservice claim: means a request for benefits or payment from a health insurance issuer for health care services that, under the terms of the health insurance issuer's contract of coverage, requires authorization from the health insurance issuer or from the health insurance issuer's designated utilization review organization prior to receiving the services. See Montana Code 33-32-102
  • President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
  • Pretext interview: means an interview during which a person, in an attempt to obtain information about a natural person, performs one or more of the following acts:

    (a) pretends to be someone else;

    (b) pretends to represent a person not in fact being represented;

    (c) misrepresents the true purpose of the interview; or

    (d) refuses to provide identification upon request. See Montana Code 33-19-104

  • Primary care physician: means a physician who has the responsibility for providing initial and primary care to patients, for maintaining the continuity of patient care, and for initiating referrals for specialist care. See Montana Code 33-22-1902
  • Primary care professional: means a participating health care professional designated by the health carrier to supervise, coordinate, or provide initial care or continuing care to a covered person and who may be required by the health carrier to initiate a referral for specialty care and to maintain supervision of health care services rendered to the covered person. See Montana Code 33-36-103
  • Principal office: means the office, in the state or out of the state, that is designated in the annual report filed pursuant to 35-2-904 as the place where the principal office of a domestic or foreign corporation is located. See Montana Code 35-2-114
  • Principal place of business: means :

    (a) in the case of a plan sponsor, the state in which more than 50% of the participants in the benefit plan are employed;

    (b) if 50% of the participants of a benefit plan are not employed in a single state and for a person other than an individual, the single state in which the individuals who establish policies for the direction, control, and coordination of the operations of the entity as a whole primarily exercise that function, as determined by the association in its reasonable judgment by considering the following factors:

    (i) the state in which the primary executive and administrative headquarters is located;

    (ii) the state in which the principal office of the chief executive officer is located;

    (iii) the state in which the board of directors or similar governing persons conduct its meetings;

    (iv) the state in which the executive or management committee of the board of directors or similar governing person or persons conduct the majority of their meetings;

    (v) the state from which the management of the overall operations is directed; and

    (vi) in the case of a benefit plan sponsored by affiliated companies comprising a consolidated corporation, the state in which the holding company or controlling affiliate has its principal place of business as determined using the above factors; or

    (c) with respect to a plan sponsor defined in subsection (17)(c), the principal place of business of the association, committee, joint board of trustees, or other similar group of representatives of the parties who establish or maintain the benefit plan that, in lieu of specific or clear designation of a principal place of business, is the principal place of business of the employer or employee organization that has the largest investment in the benefit plan in question. See Montana Code 33-10-202

  • Principal place of business: means the state where the insured business maintains its headquarters and where the insured's high-level officers direct, control, and coordinate the business activities of the insured. See Montana Code 33-2-301
  • Principal residence: means the state where an individual insured resides for the greatest number of days during a calendar year or, if the insured's principal residence is located outside of any state, the state to which the greatest percentage of the insured's taxable premium for that insurance contract is located. See Montana Code 33-2-301
  • Principle-based valuation: means a reserve valuation that uses one or more methods or one or more assumptions determined by the insurer. See Montana Code 33-2-402
  • Printing: means the act of reproducing a design on a surface by any process. See Montana Code 1-1-203
  • Private self-insurer: means a private employer bound by compensation plan No. See Montana Code 39-71-2603
  • Privileged information: means any individually identifiable information that:

    (a) relates to a civil or criminal proceeding involving an individual; and

    (b) is collected in connection with or in reasonable anticipation of a claim for insurance benefits or civil or criminal proceeding involving an individual. See Montana Code 33-19-104

  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Proceeding: includes a civil suit and a criminal, administrative, and investigatory action. See Montana Code 35-2-114
  • producer: means a person, corporation, partnership, or other business entity, including an officer, director, or owner of 5% or more of the equity or capital thereof, engaged in this state in the trade, business, occupation, or profession of:

    (a) buying or selling interests in real property;

    (b) making loans secured by interests in real property; or

    (c) acting as broker, insurance producer, or representative of a person described in subsection (8)(a) or (8)(b). See Montana Code 33-25-105

  • Producing insurance producer: means a Montana-licensed property and casualty insurance producer dealing directly with a person seeking insurance. See Montana Code 33-2-301
  • product liability: means liability for damages because of any personal injury, death, emotional harm, consequential economic damage, or property damage, including damages resulting from the loss of use of property, arising out of the manufacture, design, importation, distribution, packaging, labeling, lease, or sale of a product but does not include the liability of any person for those damages if the product involved was in the possession of that person when the incident giving rise to the claim occurred. See Montana Code 33-11-102
  • Professional limited liability company: means a limited liability company designating itself as a professional limited liability company in its articles of organization. See Montana Code 35-8-102
  • Professional service: means any service that may lawfully be rendered only by persons licensed under a licensing law of this state and that may not lawfully be rendered by a corporation organized under the Montana Business Corporation Act. See Montana Code 35-4-109
  • Professional service: means a service that may lawfully be rendered only by persons licensed under a licensing law of this state and that may not be lawfully rendered by a limited liability company that is not a professional limited liability company. See Montana Code 35-8-102
  • Program: means the Montana reinsurance program operated by the Montana reinsurance association. See Montana Code 33-22-1303
  • Program participant: means an individual participating in the HELP Act program. See Montana Code 39-12-102
  • Property and casualty insurer: means :

    (i) any insurance company licensed under 33-2-116 and engaged in the business of entering into contracts of property insurance, as described in 33-1-210, or casualty insurance, as described in 33-1-206;

    (ii) any insurance company engaged solely in the business of reinsurance of property and casualty contracts; or

    (iii) any insurance company engaged in the business of surety and marine insurance. See Montana Code 33-2-1902

  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Prospective loss costs: means historical aggregate losses and loss adjustment expenses, including all assessments that are loss-based and excluding any separately stated policyholder surcharges, projected through development to their ultimate value and through trending to a future point in time and ascertained by accepted actuarial standards. See Montana Code 33-16-1008
  • Prospective review: means a utilization review conducted of a preservice claim prior to an admission or a course of treatment. See Montana Code 33-32-102
  • Protected agreement: means :

    (a) a document evidencing indebtedness of a domestic corporation or eligible entity and any related agreement in effect immediately before the enactment date;

    (b) an agreement that is binding on a domestic corporation or eligible entity immediately before the enactment date;

    (c) the articles of incorporation or bylaws of a domestic corporation or the organic rules of a domestic eligible entity, in each case in effect immediately before the enactment date; or

    (d) an agreement that is binding on any of the shareholders, members, interest holders, directors, or other governors of a domestic corporation or eligible entity, in their official capacities, immediately before the enactment date. See Montana Code 35-14-901

  • Protected cell: means a separate account established by a protected cell captive insurance company formed or authorized under the provisions of this chapter, in which an identified pool of assets and liabilities are segregated and insulated, as provided in this chapter, from the remainder of the protected cell captive insurance company's assets and liabilities in accordance with the terms of one or more participant contracts to fund the liability of the protected cell captive insurance company with respect to the participants as set forth in the participant contracts. See Montana Code 33-28-101
  • Protected cell assets: means all assets, contract rights, and general intangibles identified with and attributable to a specific protected cell of a protected cell captive insurance company. See Montana Code 33-28-101
  • Protected cell captive insurance company: means any captive insurance company:

    (a) in which the minimum capital and surplus required by applicable law are provided by one or more sponsors;

    (b) that is formed or authorized under the provisions of this chapter;

    (c) that insures the risks of separate participants through participant contracts;

    (d) that funds its liability to each participant through one or more protected cells and segregates the assets of each protected cell from the assets of other protected cells and from the assets of the protected cell captive insurance company's general account; and

    (e) that is incorporated or formed as a limited liability company. See Montana Code 33-28-101

  • Protected cell liabilities: means all liabilities and other obligations identified with and attributable to a specific protected cell of a protected cell captive insurance company. See Montana Code 33-28-101
  • Provider: means a physician, hospital, hospital-related facility, long-term care facility, dentist, osteopath, chiropractor, optometrist, podiatrist, psychologist, licensed social worker, registered pharmacist, or advanced practice registered nurse, as specifically listed in 37-8-202, or registered nurse first assistant as defined by the board of nursing under Title 37, chapter 8, who treats any illness or injury within the scope and limitations of the provider's practice or any other person who is licensed or otherwise authorized in this state to furnish health care services. See Montana Code 33-31-102
  • provider: means a person, corporation, facility, or institution licensed by the state to provide, or otherwise lawfully providing, health care services, including but not limited to:

    (a) a physician, physician assistant, advanced practice registered nurse, health care facility as defined in 50-5-101, osteopath, dentist, nurse, optometrist, chiropractor, podiatrist, physical therapist, psychologist, licensed social worker, speech pathologist, audiologist, licensed addiction counselor, or licensed professional counselor; and

    (b) an officer, employee, or agent of a person described in subsection (18)(a) acting in the course and scope of employment. See Montana Code 33-32-102

  • provider: means a health care professional or a facility. See Montana Code 33-36-103
  • provider: means a health care professional or facility. See Montana Code 33-1-801
  • Provider: means an individual or entity licensed or legally authorized to provide health care services or services covered within Title 33, chapter 22, part 7. See Montana Code 33-22-1703
  • Proxy voting: The practice of allowing a legislator to cast a vote in committee for an absent legislator.
  • Public adjuster: means an adjuster retained by and representing the interests of the insured. See Montana Code 33-17-102
  • Public benefit corporation: means a domestic corporation designated as a public benefit corporation. See Montana Code 35-2-114
  • Public employee: means :

    (i) except as provided in subsection (9)(b), a person employed by a public employer in any capacity; and

    (ii) an individual whose work has ceased as a consequence of or in connection with any unfair labor practice or concerted employee action. See Montana Code 39-31-103

  • Public employer: means the state of Montana or any political subdivision thereof, including but not limited to any town, city, county, district, school board, board of regents, public and quasi-public corporation, housing authority or other authority established by law, and any representative or agent designated by the public employer to act in its interest in dealing with public employees. See Montana Code 39-31-103
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Public organic document: means the public record that when filed creates an entity and any amendment to or restatement of that record. See Montana Code 35-7-102
  • Purchaser: means the individual, employer, or other entity, but not the individual certificate holder in the case of group insurance, that enters into a health care services agreement. See Montana Code 33-31-102
  • Purchasing group: means a group that:

    (a) has as one of its purposes the purchase of liability insurance on a group basis;

    (b) purchases liability insurance only for its group members and only to cover their similar or related liability exposure, as described in subsection (7)(c);

    (c) is composed of members whose businesses or activities are similar or related with respect to the liability to which members are exposed by virtue of any related, similar, or common business, trade, product, service, premises, or operation; and

    (d) is domiciled in any state. See Montana Code 33-11-102

  • Pure captive insurance company: means any company that insures risks of its parent and affiliated companies and controlled unaffiliated business entities. See Montana Code 33-28-101
  • Pure premium rate: means the portion of the rate that represents the loss cost per unit of exposure, including loss adjustment expense. See Montana Code 33-16-1008
  • Qualified actuary: means an individual who is qualified to sign the applicable statement of actuarial opinion in accordance with the American academy of actuaries qualification standards and meets the requirements specified in the valuation manual. See Montana Code 33-2-402
  • Qualified assignment agreement: means an agreement providing for a qualified assignment, as defined for federal tax purposes, of the liability to make periodic payments under a structured settlement. See Montana Code 33-20-1402
  • Qualified bank: means :

    (a) a national bank, state bank, or trust company that at all times is adequately capitalized as determined by standards adopted by United States banking regulators and that is either regulated by state banking laws or is a member of the federal reserve system; or

    (b) a bank or trust company incorporated or organized under the laws of a country other than the United States that is regulated as a bank or trust company by that country's government or an agency of that government and that at all times is adequately capitalized as determined by the standards adopted by international banking authorities. See Montana Code 33-12-102

  • Qualified business entity: means a business entity that is:

    (a) an issuer of obligations or preferred stock that is rated 1 or 2 by the SVO or an issuer of obligations, preferred stock, or derivative instruments that are rated the equivalent of 1 or 2 by the SVO or by a nationally recognized statistical rating organization recognized by the SVO; or

    (b) a primary dealer in United States government securities recognized by the federal reserve bank of New York. See Montana Code 33-12-102

  • Qualified clearinghouse: means a clearinghouse for, and subject to the rules of, a qualified exchange or a qualified foreign exchange, which provides clearing services, including acting as a counterparty to each of the parties to a transaction so that the parties no longer have a credit risk as to each other. See Montana Code 33-12-102
  • Qualified exchange: means :

    (a) a securities exchange registered as a national securities exchange or a securities market regulated under the Securities Exchange Act of 1934 (15 U. See Montana Code 33-12-102

  • Qualified foreign entity: means a foreign entity that is authorized to transact business in this state pursuant to a filing with the secretary of state. See Montana Code 35-7-102
  • Qualified foreign exchange: means a foreign exchange, board of trade, or contract market located outside the United States or its territories or possessions:

    (a) that has received regulatory comparability relief under commodity futures trading commission rule 30. See Montana Code 33-12-102

  • Qualified guarantor: means a guarantor against which an insurer has a direct claim for full and timely payment, evidenced by a contractual right for which an enforcement action can be brought in a domestic jurisdiction. See Montana Code 33-12-102
  • Qualified person: means a natural person, general partnership, or professional corporation eligible under this chapter to own shares issued by a professional corporation. See Montana Code 35-4-109
  • Qualified primary credit source: means the credit source to which an insurer looks for payment as to an investment and against which an insurer has a direct claim for full and timely payment, evidenced by a contractual right for which an enforcement action can be brought in a domestic jurisdiction. See Montana Code 33-12-102
  • Qualified risk manager: has the meaning provided in 33-2-319. See Montana Code 33-2-301
  • Quality assessment: means the measurement and evaluation of the quality and outcomes of medical care provided to individuals, groups, or populations. See Montana Code 33-36-103
  • Quality assurance: means quality assessment and quality improvement. See Montana Code 33-36-103
  • Quality improvement: means an effort to improve the processes and outcomes related to the provision of health care services within a health plan. See Montana Code 33-36-103
  • Quorum: The number of legislators that must be present to do business.
  • Rate: means fees for:

    (a) issuing a title insurance policy, including any service charge or fee for the issuance;

    (b) abstracting, searching, and examining title to real property when prepared or issued in contemplation of or in conjunction with the issuance of a title insurance policy; and

    (c) preparing or issuing preliminary reports, commitments, binders, or similar products prepared or issued in contemplation of or in conjunction with the issuance of a title insurance policy. See Montana Code 33-25-105

  • Rate: means a monetary amount applied to the units of exposure assigned to a classification and used by an insurer to determine the premium for an insured. See Montana Code 33-15-1102
  • Rated credit instrument: means a contractual right to receive cash or another rated credit instrument from another entity if the instrument:

    (i) is rated or required to be rated by the SVO;

    (ii) in the case of an instrument with a maturity of 397 days or less, is issued, guaranteed, or insured by an entity that is rated by, or another obligation of the entity is rated by, the SVO or by a nationally recognized statistical rating organization recognized by the SVO;

    (iii) in the case of an instrument with a maturity of 90 days or less, is issued by a qualified bank;

    (iv) is a share of a class one bond mutual fund; or

    (v) is a share of a money market mutual fund. See Montana Code 33-12-102

  • rates: means rate of premium, policy and membership fee, or any other charge made by an insurer for or in connection with a contract or policy of workers' compensation and employer's liability insurance, prior to application of individual risk variations based on loss or expense considerations. See Montana Code 33-16-1008
  • Rating period: means the calendar period for which premium rates established by a small employer carrier are assumed to be in effect. See Montana Code 33-22-1803
  • Rating plan: means a rule used by an insurer to calculate:

    (a) the premium for an insured; and

    (b) the parameter values used in such calculation after application of classification premium rates to units of exposure. See Montana Code 33-15-1102

  • RBC instructions: means the RBC report, including risk-based capital instructions adopted by the NAIC, as the RBC instructions may be amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC. See Montana Code 33-2-1902
  • RBC plan: means a comprehensive financial plan containing the elements specified in 33-2-1904(2). See Montana Code 33-2-1902
  • RBC report: means the report required in 33-2-1903. See Montana Code 33-2-1902
  • Real estate: means :

    (i) real property;

    (ii) interests in real property, such as leaseholds, minerals, oil, and gas, that have not been separated from the underlying fee interest;

    (iii) improvements and fixtures located on or in real property; and

    (iv) the seller's equity in a contract providing for a deed of real estate. See Montana Code 33-12-102

  • Rebates: means all price concessions, however characterized, paid by a manufacturer to a pharmacy benefit manager, including discounts and other remuneration or price concessions, that are based on the actual or estimated utilization of a prescription drug. See Montana Code 33-2-2402
  • Receivership court: means the court in the insolvent or impaired insurer's state that has jurisdiction over the supervision, rehabilitation, or liquidation of the insurer. See Montana Code 33-10-202
  • Recess: A temporary interruption of the legislative business.
  • Recommendation: means advice provided by a producer to an individual consumer that was intended to result or does result in a purchase, an exchange, or a replacement of an annuity in accordance with that advice. See Montana Code 33-20-804
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Montana Code 35-2-114
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Montana Code 35-7-102
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is recoverable in a perceivable form. See Montana Code 35-8-102
  • Record date: means the date established under part 5 on which a corporation determines the identity of its members for the purposes of this chapter. See Montana Code 35-2-114
  • Records administrator: means the individual responsible for keeping the public records of the local government and generally means the county, city, or town clerk unless the alternative form or governing body specifies a different individual. See Montana Code 7-3-122
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Registered agent: means a commercial registered agent or a noncommercial registered agent. See Montana Code 35-7-102
  • Registered agent filing: means :

    (a) the public organic document of a domestic filing entity;

    (b) a nonresident LLP statement;

    (c) a foreign qualification document; or

    (d) an appointment of agent. See Montana Code 35-7-102

  • Regular benefits: means benefits payable to an individual under this chapter or under any other state law, including benefits payable to federal civilian employees and to ex-service personnel pursuant to 5 U. See Montana Code 39-51-2501
  • regulatory action level RBC: means , except for the state fund as provided in subsection (12)(d)(ii), the product of 1. See Montana Code 33-2-1902
  • Rehabilitation benefits: means benefits provided in 39-71-1006 and 39-71-1025. See Montana Code 39-71-1011
  • Rehabilitation plan: means a written individualized plan that assists a disabled worker in acquiring skills or aptitudes to return to work through job placement, on-the-job training, education, training, or specialized job modification and that reasonably reduces the worker's actual wage loss. See Montana Code 39-71-1011
  • Rehabilitation provider: means a rehabilitation counselor certified by the commission on rehabilitation counselor certification and designated by the insurer. See Montana Code 39-71-1011
  • Rehabilitation services: means a program of evaluation, planning, and implementation of a rehabilitation plan to assist a disabled worker to return to work. See Montana Code 39-71-1011
  • Reinsurance cap: means the maximum amount of each claim incurred by an eligible health insurer for an enrolled individual's covered benefits in a benefit year, after which the claims costs for benefits are no longer eligible for reinsurance payments. See Montana Code 33-22-1303
  • Reinsurance payments: means an amount paid by the association to an eligible health insurer under the program. See Montana Code 33-22-1303
  • Related provider trust: means a trust established by a licensed viatical settlement provider or a financing entity for the sole purpose of holding the ownership or beneficial interest in purchased policies in connection with a financing transaction. See Montana Code 33-20-1302
  • Religious corporation: means a domestic corporation designated as a religious corporation. See Montana Code 35-2-114
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Remand: When an appellate court sends a case back to a lower court for further proceedings.
  • Remote communication: includes communication made by conference telephone call, internet, electronic, remote technology, or similar communication through which all participants in the meeting have the opportunity to read or hear the proceedings substantially concurrently with their occurrence, vote on matters submitted to the members, pose questions, and make comments. See Montana Code 35-2-114
  • Remote communication: includes communication made electronically, by conference telephone call, internet, remote technology, or other communication through which all participants in the meeting have the opportunity to read or hear the proceedings substantially concurrently with their occurrence, vote on matters submitted to the members, pose questions, and make comments. See Montana Code 35-18-102
  • Renewal: means an agreement between an insurer and an insured to extend or continue an existing insurance policy for 90 days or more. See Montana Code 33-15-1102
  • Rental agreement: means a written agreement or lease that establishes or modifies the terms, conditions, or rules concerning the use and occupancy of a leased space at a self-storage facility. See Montana Code 33-24-302
  • Rental agreement: means a written agreement setting forth the terms and conditions governing the use of a vehicle that is provided by a rental vehicle entity for the rental or lease of a rental vehicle for a period of not more than 90 days. See Montana Code 33-17-1501
  • Rental vehicle: means a motor vehicle that is designated as:

    (a) a private passenger motor vehicle, including an automobile, a passenger van, a minivan, or a sport utility vehicle; or

    (b) a cargo vehicle, including a cargo van, a pickup truck, or a truck with a gross weight of less than 26,000 pounds that does not require the operator to possess a commercial driver's license. See Montana Code 33-17-1501

  • Rental vehicle entity: means an entity in the business of providing rental vehicles to the public under a rental agreement. See Montana Code 33-17-1501
  • Rental vehicle insurance: means insurance that a renter purchases from a rental vehicle entity as part of the rental agreement in conjunction with the use of a rental vehicle. See Montana Code 33-17-1501
  • Renter: means a person entitled to the use of a leased space at a self-storage facility under a rental agreement or the person's successors or assigns. See Montana Code 33-24-302
  • Renter: means a person who obtains the use of a rental vehicle from a rental vehicle entity under the terms of a rental agreement. See Montana Code 33-17-1501
  • Replacement: means a transaction in which a new annuity is to be purchased, and it is known or should be known to the proposing producer or to the proposing insurer, whether or not a producer is involved, that by reason of the transaction, an existing annuity or other insurance policy or contract has been or is to be any of the following:

    (a) lapsed, forfeited, surrendered or partially surrendered, assigned to the replacing insurer, or otherwise terminated;

    (b) converted to reduced paid-up insurance, continued as extended term insurance, or otherwise reduced in value by the use of nonforfeiture benefits or other policy values;

    (c) amended so as to effect either a reduction in benefits or in the term for which coverage would otherwise remain in force or for which benefits would be paid;

    (d) reissued with any reduction in cash value; or

    (e) used in a financed purchase. See Montana Code 33-20-804

  • Replication transaction: means a derivative transaction that is intended to replicate the performance of one or more assets that an insurer is authorized to acquire under this chapter. See Montana Code 33-12-102
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • Represented entity: means :

    (a) a domestic filing entity;

    (b) a domestic or qualified foreign limited liability partnership that does not have an office in this state;

    (c) a qualified foreign entity;

    (d) a domestic or foreign unincorporated nonprofit association for which an appointment of agent has been filed;

    (e) a domestic entity that is not a filing entity for which an appointment of agent has been filed; or

    (f) a nonqualified foreign entity for which an appointment of agent has been filed. See Montana Code 35-7-102

  • Repurchase transaction: means a transaction in which an insurer purchases securities from a business entity that is obligated to repurchase the purchased securities or equivalent securities from the insurer at a specified price, either within a specified period of time or upon demand. See Montana Code 33-12-102
  • Required liabilities: means total liabilities required to be reported on the statutory financial statement of the insurer most recently required to be filed with the commissioner. See Montana Code 33-12-102
  • Rescission: means a cancellation or the discontinuance of coverage under a health plan that has a retroactive effect. See Montana Code 33-32-102
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Reserve estimates: means provisions for insurer obligations for future payments of loss or loss adjustment expenses. See Montana Code 33-16-1008
  • Reserves: means the excess of the assets of a self-funded multiple employer welfare arrangement minus the liabilities of the arrangement. See Montana Code 33-35-103
  • Resident: means a person to whom a contractual obligation is owed and who resides in this state on the date of entry of a court order that determines a member insurer to be an impaired insurer or a court order that determines a member insurer to be an insolvent insurer. See Montana Code 33-10-202
  • Residential mortgage loan: means a loan primarily secured by a mortgage on real estate improved with a residence for no more than four families. See Montana Code 33-12-102
  • Residual market mechanism: means an association, organization, or other entity defined or described in 61-6-144. See Montana Code 33-19-104
  • Responsible administrative authority: means , with respect to a structured settlement, any government authority vested by law with exclusive jurisdiction over the settled claim resolved by the structured settlement. See Montana Code 33-20-1402
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Restricted network provision: means a provision of a health benefit plan that conditions the payment of benefits, in whole or in part, on the use of health care providers that have entered into a contractual arrangement with the carrier pursuant to Title 33, chapter 22, part 17, or Title 33, chapter 31, to provide health care services to covered individuals. See Montana Code 33-22-1803
  • Retrenchment: means reducing the number of employees at the governmental facility by at least 250 employees over any 2-year period, provided that a reduction in the number of employees by attrition is not retrenchment. See Montana Code 39-2-1002
  • Retrospective review: means a review of medical necessity conducted after services have been provided to a covered person. See Montana Code 33-32-102
  • Reverse repurchase transaction: means a transaction in which an insurer sells securities to a business entity and is obligated to repurchase the sold securities or equivalent securities from the business entity at a specified price, either within a specified period of time or upon demand. See Montana Code 33-12-102
  • Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). Source: OCC
  • Risk retention group: means a corporation or other limited liability association formed under the laws of any state, Bermuda, or the Cayman Islands:

    (a) whose primary activity consists of assuming and spreading all or any portion of the liability exposure of its group members;

    (b) that is organized for the primary purpose of conducting the activity described under subsection (8)(a);

    (c) (i) that is chartered and licensed as a liability insurance company and authorized to engage in the business of insurance under the laws of any state; or

    (ii) that, before January 1, 1985, was chartered or licensed and authorized to engage in the business of insurance under the laws of Bermuda or the Cayman Islands and, before that date, had certified to the insurance regulatory official of at least one state that it satisfied the capitalization requirements of that state. See Montana Code 33-11-102

  • Rules: means all rules, regulations, or resolutions that are adopted by the supreme governing body or board of directors and that are intended to have general application to the members of the society. See Montana Code 33-7-108
  • safety consultation services: means assistance rendered by an insurer or the department to advise and aid an employer in the identification, evaluation, and control of existing and potential accidental and occupational health problems. See Montana Code 39-71-1503
  • Satellite terminal: means any machine or device that is located off the premises of a financial institution and that a financial institution or its customers may use to carry out electronic funds transfers. See Montana Code 32-6-103
  • Secretary: means the corporate officer to whom the board of directors has delegated responsibility under 35-2-439(2) for custody of the minutes of the directors' and members' meetings and for authenticating the records of the corporation. See Montana Code 35-2-114
  • Secured location: means the contiguous real estate owned by one person. See Montana Code 33-12-102
  • Securities lending transaction: means a transaction in which securities are loaned by an insurer to a business entity that is obligated to return the loaned securities or equivalent securities to the insurer, either within a specified period of time or upon demand. See Montana Code 33-12-102
  • Security: has the meaning provided in 30-8-112. See Montana Code 33-3-451
  • Self-storage facility: means real property consisting of individual storage spaces in which a renter customarily stores and removes personal property on a self-service basis. See Montana Code 33-24-302
  • Self-storage insurance: means insurance offered in connection with and incidental to the rental of a leased space at a self-storage facility and which provides coverage to renters for the loss of or damage to personal property occurring at the facility or when the property is in transit to or from the facility during the term of the rental agreement. See Montana Code 33-24-302
  • Sell: means to exchange a contract of insurance by any means, for money or the equivalent, on behalf of an insurance company. See Montana Code 33-17-102
  • Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
  • Series company: means an investment company that is organized as a series company, as defined in rules adopted under the Investment Company Act of 1940 (15 U. See Montana Code 33-12-102
  • Series of members: means a group or collection of members of a limited liability company who share interests and have separate rights, powers, or duties with respect to property, obligations, or profits and losses associated with property or obligations and who are specified in the articles of organization or operating agreement of the limited liability company or are specified by one or more members or managers of the limited liability company or other persons as provided in the articles of organization or operating agreement. See Montana Code 35-8-102
  • Service area: means the area within a 60-mile radius of the home or place of business of a medical care discount card user or pharmacy discount card user. See Montana Code 33-38-102
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settled claim: means the original tort claim. See Montana Code 33-20-1402
  • 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.
  • Several: means two or more. See Montana Code 1-1-201
  • Shell business entity: means a business entity having no economic substance, except as a vehicle for owning interests in assets issued, owned, or previously owned by a person domiciled in a foreign jurisdiction. See Montana Code 33-12-102
  • Short-term: means investments with a remaining term to maturity of 90 days or less. See Montana Code 33-12-102
  • Sign: means to identify a record by means of a signature, mark, or other symbol with the intent to authenticate it. See Montana Code 35-8-102
  • signed: means , with present intent to authenticate or adopt a record:

    (a) to execute or adopt a tangible symbol; or

    (b) to attach to or logically associate with the record an electronic sound, symbol, or process. See Montana Code 35-2-114

  • Single-state risk: means a risk covered by an unauthorized insurer with exposures in only one state. See Montana Code 33-2-301
  • Sinking fund stock: means preferred stock that:

    (a) is subject to a mandatory sinking fund or similar arrangement that will provide for the redemption or open market purchase of the entire issue over a period not longer than 40 years from the date of acquisition; and

    (b) provides for mandatory sinking fund installments or open market purchases commencing not more than 10 1/2 years from the date of issue, with the sinking fund installments providing for the purchase or redemption, on a cumulative basis commencing 10 years from the date of issue, of at least 2. See Montana Code 33-12-102

  • Small employer: means a person, firm, corporation, partnership, or bona fide association that is actively engaged in business and that, with respect to a calendar year and a plan year, employed at least two but not more than 50 eligible employees during the preceding calendar year and employed at least two employees on the first day of the plan year. See Montana Code 33-22-1803
  • Small employer carrier: means a carrier that offers health benefit plans that cover eligible employees of one or more small employers in this state. See Montana Code 33-22-1803
  • Small group market: means the health insurance market under which individuals obtain health insurance coverage directly or through an arrangement, on behalf of themselves and their dependents, through a group health plan or group health insurance coverage maintained by a small employer as defined in 33-22-1803. See Montana Code 33-22-140
  • Society: means a fraternal benefit society described in 33-7-105. See Montana Code 33-7-108
  • Sole proprietorship: means an individual doing business in a noncorporate form. See Montana Code 33-28-101
  • Solicit: means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance. See Montana Code 33-17-102
  • Special purpose captive insurance company: means a captive insurance company that is formed or authorized under this chapter that does not meet the definition of any other type of captive insurance company defined in this section or is formed by, on behalf of, or for the benefit of a political subdivision of this state. See Montana Code 33-28-101
  • Special purpose entity: means a corporation, partnership, trust, limited liability company, or other similar entity formed solely to provide, either directly or indirectly, access to institutional capital markets for a financing entity or licensed viatical settlement provider. See Montana Code 33-20-1302
  • Specific public benefit: means :

    (a) providing low-income or underserved individuals or communities with beneficial products or services;

    (b) promoting economic opportunity for individuals or communities beyond the creation of jobs in the ordinary course of business;

    (c) preserving the environment;

    (d) improving human health;

    (e) promoting the arts, sciences, or advancement of knowledge;

    (f) increasing the flow of capital to entities with a public benefit purpose; or

    (g) the accomplishment of any other particular benefit for society or the environment. See Montana Code 35-1-1402

  • Sponsor: means any entity that meets the requirements of 33-28-301 and 33-28-302 and is approved by the commissioner to provide all or part of the capital and surplus required by the applicable law and to organize and operate a protected cell captive insurance company. See Montana Code 33-28-101
  • Stabilize: means , with respect to an emergency condition, to ensure that no material deterioration of the condition is, within a reasonable medical probability, likely to result from or occur during the transfer of the individual from a facility. See Montana Code 33-32-102
  • Standard health benefit plan: means a health benefit plan that is developed by a small employer carrier. See Montana Code 33-22-1803
  • State: includes , in addition to the states of the United States of America, the District of Columbia, Puerto Rico, the Virgin Islands, and Canada. See Montana Code 39-51-201
  • State: means a state, the District of Columbia, the Commonwealth of Puerto Rico, or a United States possession, territory, or protectorate. See Montana Code 33-10-202
  • State: means any state of the United States or the District of Columbia. See Montana Code 33-11-102
  • State: means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, the Virgin Islands, and American Samoa. See Montana Code 33-2-301
  • State: means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico. See Montana Code 35-8-102
  • State law: means the unemployment insurance law of any state approved by the U. See Montana Code 39-51-2501
  • Statistical plan: means the plan, system, or arrangement that is used in collecting data. See Montana Code 33-16-1008
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Structured settlement: means an arrangement for periodic payment of damages for personal injuries or sickness established by settlement or judgment in resolution of a tort claim. See Montana Code 33-20-1402
  • Structured settlement agreement: means the written agreement, judgment, stipulation, or release embodying the terms of a structured settlement. See Montana Code 33-20-1402
  • Structured settlement annuity: means an annuity purchased in order to fund periodic payments for a plaintiff or other claimant in payment for or with respect to personal injury suffered by the plaintiff or other claimant. See Montana Code 33-10-202
  • Structured settlement obligor: means , with respect to a structured settlement, the party that has the continuing obligation to make periodic payments to the payee under a structured settlement agreement or a qualified assignment agreement. See Montana Code 33-20-1402
  • Structured settlement payment right: means the right to receive periodic payments under a structured settlement, whether from the structured settlement obligor or the annuity issuer, when:

    (a) (i) the payee is domiciled in this state; or

    (ii) the domicile or principal place of business of the structured settlement obligor or the annuity issuer is located in this state;

    (b) a court or responsible administrative authority in this state approved the structured settlement agreement; or

    (c) the structured settlement agreement is expressly governed by the laws of this state. See Montana Code 33-20-1402

  • Subpoena: A command to a witness to appear and give testimony.
  • Subpoena duces tecum: A command to a witness to produce documents.
  • Subscriber: means a certificate holder or other person on whose behalf the health care insurer is providing or paying for health care coverage. See Montana Code 33-22-1703
  • subscription: includes the mark of a person who cannot write if the person's name is written near the mark by another person who also signs that person's own name as a witness. See Montana Code 1-1-203
  • Subsidiary: means an entity in which a parent entity owns beneficially or of record 50% or more of the outstanding equity interests of the subsidiary. See Montana Code 35-1-1402
  • Substantially similar securities: means securities that meet all criteria for substantially similar specified in the NAIC Accounting Practices and Procedures Manual, as amended, and in an amount that constitutes good delivery form as determined from time to time by the public securities administration. See Montana Code 33-12-102
  • Summons: Another word for subpoena used by the criminal justice system.
  • Supervising entity: means a business entity that is a licensed insurer or insurance producer that is authorized by a licensed insurer to supervise the administration of a portable electronics insurance program. See Montana Code 33-24-202
  • Supervising entity: means a business entity that is a licensed insurer or insurance producer that is authorized by a licensed insurer to supervise the administration of a self-storage insurance program. See Montana Code 33-24-302
  • Supervisory employee: means an individual having the authority on a regular, recurring basis while acting in the interest of the employer to hire, transfer, suspend, lay off, recall, promote, discharge, assign, reward, or discipline other employees or to effectively recommend the above actions if, in connection with the foregoing, the exercise of the authority is not of a merely routine or clerical nature but requires the use of independent judgment. See Montana Code 39-31-103
  • Supplementary rate information: means a manual or plan of rates, statistical plan, classification system, minimum premium, policy fee, rating rule, rate-related underwriting rule, and any other information needed to determine the applicable premium for an individual insured that is consistent with the purposes of this part and with rules prescribed by rule of the commissioner. See Montana Code 33-16-1008
  • Supporting information: means the experience and judgment of the filer and the experience or data of other insurers or advisory organizations relied on by the filer, the interpretation of any statistical data relied on by the filer, descriptions of methods used in making the rates, and any other similar information required to be filed by the commissioner. See Montana Code 33-16-1008
  • Surplus lines insurance: means any property, casualty, or inland marine insurance permitted in a state to be placed directly or through a surplus lines insurance producer with an unauthorized insurer eligible to accept the insurance. See Montana Code 33-2-301
  • Surplus lines insurance producer: means an individual or business entity licensed under 33-2-305 to place surplus lines insurance on risks resident, located, or to be performed in this state with unauthorized insurers eligible to accept the insurance. See Montana Code 33-2-301
  • Surviving organization: means an organization into which one or more other organizations are merged. See Montana Code 35-12-1501
  • Suspend: means to bar the use of a person's license for a period of time. See Montana Code 33-17-102
  • SVO: means the securities valuation office of the NAIC or any successor office established by the NAIC. See Montana Code 33-12-102
  • Swap: means an agreement to exchange or to net payments at one or more times based on the actual or expected price, level, performance, or value of one or more underlying interests. See Montana Code 33-12-102
  • Tail risk: means a risk that occurs either when the frequency of low-probability events is higher than expected under a normal probability distribution or when there are observed events of very significant size or magnitude. See Montana Code 33-2-402
  • Taxes: means contributions and assessments required under this chapter but does not include penalties or interest for past-due or unpaid contributions or assessments. See Montana Code 39-51-201
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Term company: means a limited liability company designated as a term company in its articles of organization. See Montana Code 35-8-102
  • Terms of the structured settlement: means , with respect to a structured settlement, the terms of the structured settlement agreement, the annuity contract, a qualified assignment agreement, or any order or other approval of a court or responsible administrative authority or other government authority that authorized or approved the structured settlement. See Montana Code 33-20-1402
  • Testify: means every mode of oral statement under oath or affirmation. See Montana Code 1-1-202
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Third persons: means all persons who are not parties to the obligation or transaction concerning which the phrase is used. See Montana Code 1-1-206
  • Third-party standard: means a standard for defining, reporting, and assessing overall corporate social and environmental performance to which all of the following apply:

    (a) the standard is a comprehensive assessment of the impact of the business and the business's operations on the considerations listed in 35-1-1406(2)(a);

    (b) the standard is developed by an entity that has no material financial relationship with the benefit corporation or any of its subsidiaries and:

    (i) not more than one-third of the members of the governing body of the entity are representatives of:

    (A) associations of businesses operating in a specific industry for which the performance is measured by the standard;

    (B) businesses from a specific industry or an association of businesses in that industry; or

    (C) businesses whose performance is assessed against the standard; and

    (ii) the entity is not materially financed by an association or business described in subsection (9)(b)(i);

    (c) the standard is developed by an entity that:

    (i) accesses necessary and appropriate expertise to assess overall corporate social and environmental performance; and

    (ii) uses a balanced multistakeholder approach, including a public comment period of at least 30 days, to develop the standard; and

    (d) the following information regarding the standard is publicly available:

    (i) the criteria considered when measuring the overall social and environmental performance of a business;

    (ii) the relative weightings assigned to the criteria described in subsection (9)(d)(i);

    (iii) the identity of the directors, the officers, any material owners, and the governing body of the entity that developed and controls revisions to the standard;

    (iv) the process by which revisions to the standard and changes to the membership of the governing body of the entity described in subsection (9)(d)(iii) are made; and

    (v) an accounting of the sources of financial support for the entity with sufficient detail to disclose any relationships that could reasonably be considered to present a potential conflict of interest. See Montana Code 35-1-1402

  • Title insurance business: means :

    (a) issuing or offering to issue a title insurance policy as an insurer;

    (b) transacting or proposing to transact any of the following as a title insurer or title insurance producer, in contemplation of or in conjunction with the issuance of a title insurance policy:

    (i) soliciting or negotiating the issuance of a title insurance policy;

    (ii) guaranteeing, warranting, or otherwise insuring the correctness of title searches;

    (iii) handling escrows, settlements, or closings;

    (iv) executing title insurance policies, reports, commitments, binders, and endorsements;

    (v) effecting contracts of reinsurance; or

    (vi) abstracting, searching, or examining titles;

    (c) transacting, as a title insurer or insurance producer, matters subsequent to the issuance of a title insurance policy and arising out of the policy; or

    (d) doing or proposing to do business that, in substance, is equivalent to any of the activities described in subsections (11)(a) through (11)(c) in a manner designed to evade the provisions of this title. See Montana Code 33-25-105

  • Title insurance policy: means a contract by which, subject to its stated terms and conditions, a title insurer insures or indemnifies the insured against loss or damage sustained by reason of:

    (a) defects in or liens or encumbrances on the title to the stated property;

    (b) unmarketability of the title to the stated property; or

    (c) invalidity or unenforceability of liens or encumbrances on the stated property. See Montana Code 33-25-105

  • Title insurance producer: means a person who holds a valid title insurance producer's license and is authorized in writing by a title insurer to:

    (i) solicit title insurance business;

    (ii) collect rates;

    (iii) determine insurability in accordance with underwriting rules and standards of the insurer; or

    (iv) issue policies of the title insurer. See Montana Code 33-25-105

  • Title insurer: means an insurer formed and authorized under the laws of this state to transact the business of title insurance in this state or a foreign or alien insurer so authorized. See Montana Code 33-25-105
  • Title plant: means a set of privately maintained records in which entries have been made of documents imparting constructive notice, under the law, of matters affecting title to real property, an interest therein, or an encumbrance thereon, that have been filed or recorded in the jurisdiction for which the title plant is maintained and from which the ownership of real property within the jurisdiction can be ascertained and liens, encumbrances, defects, and clouds on title to the real property can be determined. See Montana Code 33-25-105
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Total adjusted capital: means the sum of:

    (a) an insurer's statutory capital and surplus; and

    (b) other items, if any, as the RBC instructions may provide. See Montana Code 33-2-1902

  • Total investment of the insurer: includes :

    (a) direct investment by the insurer in an asset; and

    (b) the insurer's proportionate share of an investment in an asset by an investment subsidiary of the insurer, which must be calculated by multiplying the amount of the subsidiary's investment by the percentage of the insurer's ownership interest in the subsidiary. See Montana Code 33-12-102

  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Transfer: means a sale, assignment, pledge, hypothecation, or other alienation or encumbrance of a structured settlement payment right made by a payee for consideration. See Montana Code 33-20-1402
  • Transfer agreement: means the agreement providing for a transfer of a structured settlement payment right. See Montana Code 33-20-1402
  • Transfer expenses: means all expenses of a transfer that are:

    (i) required under the transfer agreement to be paid by the payee; or

    (ii) deducted from the gross advance amount, including without limitation any court filing fee, attorney fee, escrow fee, lien recordation fee, judgment and lien search fee, finder's fee, commission, and other payments to a broker or other intermediary. See Montana Code 33-20-1402

  • Transferable interest: means the right under an entity's organic law to receive distributions from the entity. See Montana Code 35-7-102
  • Transferee: means a party acquiring or proposing to acquire a structured settlement payment right through a transfer. See Montana Code 33-20-1402
  • Travel insurance: means insurance coverage for personal risks incident to planned travel, including but not limited to:

    (i) interruption or cancellation of a trip or event;

    (ii) loss of baggage or personal effects;

    (iii) damages to accommodations or rental vehicles; and

    (iv) sickness, accident, disability, or death occurring during travel. See Montana Code 33-17-1401

  • Travel retailer: means a business entity that makes, arranges, or offers travel services and that may offer and disseminate travel insurance as a service to its customers on behalf of and under the direction of a limited lines travel insurance producer. See Montana Code 33-17-1401
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Tribal unit: means an Indian tribe and any tribal subdivision or subsidiary or any business enterprise that is wholly owned by that tribe. See Montana Code 39-51-201
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Trustee: A person or institution holding and administering property in trust.
  • Unallocated annuity contract: means an annuity contract or group annuity certificate that is not issued to and owned by an individual, except to the extent of annuity benefits guaranteed to an individual by the insurer under the contract or certificate. See Montana Code 33-10-202
  • Unauthorized insurer: means an insurance institution that has not been granted a certificate of authority by the commissioner to transact the business of insurance in this state. See Montana Code 33-19-104
  • Unauthorized insurer: means , with respect to a state, an insurer not authorized to transact the business of insurance in the state. See Montana Code 33-2-301
  • under common control with: means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person. See Montana Code 33-2-1101
  • under common control with: means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract other than a commercial contract for goods or nonmanagement services, or otherwise, unless the power is the result of an official position with or corporate office held by the person. See Montana Code 33-19-104
  • under common control with: means that:

    (i) the person directly or indirectly or acting through one or more other persons owns, controls, or has the power to vote 25% or more of any class of voting securities of a business entity; or

    (ii) the person controls in any manner the election of a majority of the directors or trustees of a business entity. See Montana Code 33-2-301

  • Underlying interest: means the assets, liabilities, other interests, or a combination of assets, liabilities, or other interests underlying a derivative instrument, such as any one or more securities, currencies, rates, indices, commodities, or derivative instruments. See Montana Code 33-12-102
  • Unearned premium: means that part of the original premium, including a deposit, not yet earned by the insurer and therefore due the insured if a policy is canceled. See Montana Code 33-14-102
  • Unemployment insurance administration fund: means the unemployment insurance administration fund established by this chapter from which administrative expenses under this chapter must be paid. See Montana Code 39-51-201
  • Unfair labor practice: means any unfair labor practice listed in 39-31-401 or 39-31-402. See Montana Code 39-31-103
  • Unique identification device: means a magnetic encoded plastic card or equivalent device that contains either a number or a dollar balance, or both, that is unique to a customer and that is issued by a financial institution, merchant, or other person. See Montana Code 32-6-103
  • United States: includes a district, an authority, a bureau, a commission, a department, and any other agency of the United States. See Montana Code 35-2-114
  • Unrestricted surplus: means the amount by which total admitted assets exceed 125% of the insurer's required liabilities. See Montana Code 33-12-102
  • Uphold: The decision of an appellate court not to reverse a lower court decision.
  • Urgent care request: means a request for a health care service or course of treatment with respect to which the time periods for making a nonurgent care request determination could:

    (i) seriously jeopardize the life or health of the covered person or the ability of the covered person to regain maximum function; or

    (ii) subject the covered person, in the opinion of a health care provider with knowledge of the covered person's medical condition, to severe pain that cannot be adequately managed without the health care service or treatment that is the subject of the request. See Montana Code 33-32-102

  • Usage: means a reasonable and lawful public custom concerning transactions of the same nature as those which are to be affected thereby, existing at the place where the obligation is to be performed, and either known to the parties or so well established, general, and uniform that the parties must be presumed to have acted with reference thereto. See Montana Code 1-1-206
  • Usual: means according to usage. See Montana Code 1-1-206
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC
  • Utilization review: means a set of formal techniques designed to monitor the use of or to evaluate the clinical necessity, appropriateness, efficacy, or efficiency of health care services, procedures, or settings. See Montana Code 33-32-102
  • Utilization review: has the meaning provided in 33-32-102. See Montana Code 33-33-103
  • Utilization review organization: means an entity that conducts utilization review for one or more of the following:

    (a) an employer with employees who are covered under a health benefit plan or health insurance policy;

    (b) a health insurance issuer providing review for its own health plans or for the health plans of another health insurance issuer;

    (c) a preferred provider organization or health maintenance organization; and

    (d) any other individual or entity that provides, offers to provide, or administers hospital, outpatient, medical, or other health benefits to a person treated by a health care provider under a policy, plan, or contract. See Montana Code 33-32-102

  • Utilization review organization: means an entity that provides utilization review services. See Montana Code 33-33-103
  • Valuation manual: means the valuation manual adopted by the NAIC in accordance with its model law regarding standard valuation and adopted by the commissioner by rule. See Montana Code 33-2-402
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
  • Vendor: means a person in the business of engaging in portable electronics transactions directly or indirectly. See Montana Code 33-24-202
  • Venue: The geographical location in which a case is tried.
  • Verdict: The decision of a petit jury or a judge.
  • Vessel: when used in reference to shipping, includes ships of all kinds, steamboats and steamships, canal boats, and every structure adapted to be navigated from place to place. See Montana Code 1-1-207
  • Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
  • Viatical settlement broker: means an individual who, for a fee, commission, or other consideration:

    (i) offers or advertises the availability of viatical settlement contracts;

    (ii) introduces holders of life insurance policies or certificates insuring the lives of individuals with a terminal illness or condition to viatical settlement providers; or

    (iii) offers or attempts to negotiate viatical settlement contracts between the policyholders or certificate holders and one or more viatical settlement providers. See Montana Code 33-20-1302

  • Viatical settlement contract: means a written agreement establishing the terms under which compensation or anything of value will be paid, when the compensation or value is less than the expected death benefit of the insurance policy or certificate, in return for the viator's assignment, transfer, sale, devise, or bequest of the death benefit or ownership of any portion of the insurance policy or certificate of insurance. See Montana Code 33-20-1302
  • Viatical settlement provider: means a person who solicits, enters into, or negotiates viatical settlement contracts or offers to enter into or negotiate viatical settlement contracts. See Montana Code 33-20-1302
  • Viatical settlement purchase agreement: means a contract or agreement entered into by a viatical settlement purchaser with a viatical settlement provider to purchase a life insurance policy or an interest in a life insurance policy for the purpose of deriving an economic benefit. See Montana Code 33-20-1302
  • Viatical settlement purchaser: means a person who, for the purpose of deriving an economic benefit:

    (i) gives consideration for a life insurance policy or an interest in the death benefits of a life insurance policy; or

    (ii) owns, acquires, or is entitled to a beneficial interest in a trust that owns a viatical settlement contract or that is the beneficiary of a life insurance policy that has been or will be the subject of a viatical settlement contract. See Montana Code 33-20-1302

  • Viator: means the owner of a life insurance policy or the certificate holder under a group policy who enters or seeks to enter into a viatical settlement contract. See Montana Code 33-20-1302
  • volunteer: means a person who performs services on behalf of an employer, as defined in 39-71-117, but who does not receive wages as defined in 39-71-123. See Montana Code 39-71-118
  • volunteer emergency care provider: means a person who is licensed by the board of medical examiners as provided in Title 50, chapter 6, part 2, and who serves the public through an ambulance service not otherwise covered by subsection (1)(g) or a paid or volunteer nontransporting medical unit, as defined in 50-6-302, in service to a town, city, or county. See Montana Code 39-71-118
  • volunteer hours: means the time spent by a volunteer emergency care provider in the service of an employer or as a volunteer for a town, city, or county, including but not limited to training time, response time, and time spent at the employer's premises. See Montana Code 39-71-118
  • voting: includes but is not limited to the giving of consent in the form of a record provided electronically or by written ballot and written consent. See Montana Code 35-2-114
  • Voting power: means the total number of votes entitled to be cast for the election of directors at the time the determination of voting power is made. See Montana Code 35-2-114
  • Voting security: means any security convertible into or evidencing a right to acquire a voting security. See Montana Code 33-2-1101
  • wage: includes the reasonable cost to the employer of furnishing the employee with lodging or any other facility if the lodging or other facility is customarily furnished by the employer to employees. See Montana Code 39-3-402
  • Waiting period: means , with respect to a group health plan and an individual who is a potential participant or beneficiary in the group health plan, the period that must pass with respect to the individual before the individual is eligible to be covered for benefits under the terms of the group health plan. See Montana Code 33-22-140
  • Warrant: means an instrument that gives the holder the right to purchase an underlying financial instrument at a given price and time or at a series of prices and times outlined in the warrant agreement. See Montana Code 33-12-102
  • Week: means a period of 7 consecutive calendar days ending at midnight on Saturday. See Montana Code 39-51-201
  • Weekly benefit amount: means the amount of benefits that an individual would be entitled to receive for 1 week of total unemployment. See Montana Code 39-51-201
  • Willfully: when applied to the intent with which an act is done or omitted, means a purpose or willingness to commit the act or make the omission referred to. See Montana Code 1-1-204
  • worker: means :

    (a) each person in this state, including a contractor other than an independent contractor, who is in the service of an employer, as defined by 39-71-117, under any appointment or contract of hire, expressed or implied, oral or written. See Montana Code 39-71-118

  • Worker: has the meaning as provided in 39-71-118. See Montana Code 39-71-4003
  • Writ of certiorari: An order issued by the Supreme Court directing the lower court to transmit records for a case for which it will hear on appeal.
  • Writing: includes printing. See Montana Code 1-1-203