4.4.312    PROCESS OF PAYMENT FOR LOSSES

(1) Any losses occurring under policies issued for this application shall be payable within 40 days of the occurrence of the loss as follows:

(a) Loss payment shall be applied to outstanding policy premium (regardless of location in Montana) ; loss payment shall be applied to policy of loss first, remaining loss payment shall be applied to additional policies of record in descending order based on date of issuance.

(b) Policy holders will be identified by tax identification number. Policies having the same tax identification number will be considered the same entity and loss payment policies enacted accordingly.

History: 80-2-201, MCA; IMP, 80-2-244, MCA; NEW, 1978 MAR p. 719, Eff. 5/26/78; AMD, 1994 MAR p. 2712, Eff. 10/14/94.