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Rule Title: REGISTRATION OF INDEPENDENT LIABILITY FUNDS
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Department: STATE AUDITOR
Chapter: INSURANCE DEPARTMENT
Subchapter: Independent Liability Funds
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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6.6.2603    REGISTRATION OF INDEPENDENT LIABILITY FUNDS

(1) On or before February 1 of each year, or within one calendar month of the end of the business entity's fiscal year, the business entity shall provide the commissioner with the following information on a form prescribed by the commissioner:

(a) name of the business entity;

(b) if a corporation, the state where it is incorporated;

(c) the address and telephone number of its principal place of business;

(d) the name of its staff member responsible for handling independent liability fund questions;

(e) the name, address, and telephone number of its third-party administrator;

(f) if it has no third-party administrator, the name, address, and telephone number of its in-house administrator;

(g) the name, address, and telephone number of the surety insurer for the in-house administrator;

(h) a copy of the bond issued on the in-house administrator;

(i) all relevant information regarding the investments and assets that make up the bond of the independent liability fund, including the type of contribution, the amount, the date of its acquisition, the actual physical location of the asset or investment, its acquisitions of independent liability fund assets or investments during the year, its disposals of independent liability fund assets or investments during the year, and any other documentation that the commissioner considers necessary or relevant.

(2) The commissioner shall report failure to comply with the above registration requirement to the department of revenue. The department of revenue may disallow a business entity's deduction for an independent liability fund if the business entity fails to comply with the registration requirement or these rules.

History: Sec. 33-27-104, MCA; IMP, Title 33, Ch. 27, MCA; NEW, 1987 MAR p. 2372, Eff. 12/25/87.


 

 
MAR Notices Effective From Effective To History Notes
12/25/1987 Current History: Sec. 33-27-104, MCA; IMP, Title 33, Ch. 27, MCA; NEW, 1987 MAR p. 2372, Eff. 12/25/87.
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