Montana Administrative Code

6.6.3867 REINSURANCE AGREEMENT PROVISIONS RELATING TO 1217 TRUST AGREEMENTS - PERMISSIVE Reinsurance agreements entered into in conjunction with trust agreements pursuant to 33-2-1217, MCA, may include the following: a requirement that the assuming insurer enter into a trust agre…

6.6.3868 TERMS AND CONDITIONS OF LETTERS OF CREDIT Applicable standards of acceptability for issuers of letters of credit under 33-2-1217, MCA, include the following: the letter of credit must contain an issue date and date of expiration and must stipulate that the beneficiary ne…

6.6.3869 REINSURANCE AGREEMENT PROVISIONS RELATING TO 1217 LETTERS OF CREDIT The reinsurance agreement entered into in conjunction with trust agreements pursuant to 33-2-1217, MCA, may include the following: a requirement that the assuming insurer provide letters of credit to the…

6.6.3901 DEFINITIONS (REPEALED) Authorizing statute(s): 33-1-313, 33-2-1517, MCA Implementing statute(s): 33-2-1216, 33-2-1517, MCA History: NEW, 1993 MAR p. 2408, Eff. 10/15/93; REP, 2016 MAR p. 2186, Eff. 11/26/16.

6.6.3902 TERMS AND CONDITIONS OF LETTERS OF CREDIT (REPEALED) Authorizing statute(s): 33-1-313, 33-2-1517, MCA Implementing statute(s): 33-2-1216, 33-2-1517, MCA History: NEW, 1993 MAR p. 2408, Eff. 10/15/93; REP, 2016 MAR p. 2186, Eff. 11/26/16.

6.6.3903 LIMITS ON USE OF LETTER OF CREDIT TO REDUCE LIABILITY (REPEALED) Authorizing statute(s): 33-1-313, 33-2-1517, MCA Implementing statute(s): 33-2-1216, 33-2-1517, MCA History: NEW, 1993 MAR p. 2408, Eff. 10/15/93; REP, 2016 MAR p. 2186, Eff. 11/26/16.

6.6.3904 OTHER SECURITY FOR PAYMENT OF OBLIGATIONS UNDER CONTRACT (REPEALED) Authorizing statute(s): 33-1-313, 33-2-1517, MCA Implementing statute(s): 33-2-1216, 33-2-1517, MCA History: NEW, 1993 MAR p. 2408, Eff. 10/15/93; REP, 2016 MAR p. 2186, Eff. 11/26/16.

6.6.3905 REINSURANCE CONTRACTS AS SECURITY (REPEALED) Authorizing statute(s): 33-1-313, 33-2-1517, MCA Implementing statute(s): 33-2-1216, 33-2-1517, MCA History: NEW, 1993 MAR p. 2408, Eff. 10/15/93; REP, 2016 MAR p. 2186, Eff. 11/26/16.

6.6.3906 CONTRACTS AFFECTED (REPEALED) Authorizing statute(s): 33-1-313, 33-2-1517, MCA Implementing statute(s): 33-2-1216, 33-2-1517, MCA History: NEW, 1993 MAR p. 2408, Eff. 10/15/93; REP, 2016 MAR p. 2186, Eff. 11/26/16.

6.6.3907 FORM FOR SUBMITTING TO STATE AUTHORITY AND JURISDICTION (REPEALED) Authorizing statute(s): 33-1-313, 33-2-1517, MCA Implementing statute(s): 33-2-1216, 33-2-1517, MCA History: NEW, 1993 MAR p. 2408, Eff. 10/15/93; REP, 2016 MAR p. 2186, Eff. 11/26/16.

6.6.4001 VALUATION OF SECURITIES OTHER THAN THOSE SPECIFICALLY REFERRED TO IN STATUTES Securities and assets must be valued in accordance with valuation standards of the NAIC published in its 1999 Accounting Practices and Procedures manual and its December 31, 1999 Valuation of S…

6.6.4002 DEFINITIONS OF MONEY MARKET FUNDS For the purposes of implementing 33-4-403 , MCA, the commissioner defines "money market funds" as those investments which comply with the standards of the United States securities and exchange commission adopted in 17 C.F.R. 270.2a-7, as…

6.6.401 APPLICABILITY (IS HEREBY REPEALED) Authorizing statute(s): Sec. 33-1-313, MCA Implementing statute(s): Sec. 33-1-313, MCA History: NEW, Eff. 4/4/75; REP, 1996 MAR p. 264, Eff. 1/26/96.

6.6.402 SUBMISSION AND APPROVAL OF SALES MATERIALS (IS HERRBY REPEALED) Authorizing statute(s): Sec. 33-1-313, MCA Implementing statute(s): Sec. 33- 1-313, MCA History: NEW, Eff. 4/4/75; REP, 1996 MAR p. 264, Eff. 1/26/96.

6.6.4020 PURPOSE The purpose of these rules is to establish standards for the prudent use of derivative instruments by insurers in accordance with Title 33, chapter 12, MCA, regarding insurer investments. Authorizing statute(s): 33-1-313, 33-12-111, MCA Implementing statute(s): 3…

6.6.4021 DEFINITIONS The words and phrases used in these rules have the same meaning as in 33-12-102, MCA, unless a different meaning is required by the context of the particular rule. Authorizing statute(s): 33-1-313, 33-12-111, MCA Implementing statute(s): 33-12-210, 33-12-310,…

6.6.4022 GUIDELINES AND INTERNAL CONTROL PROCEDURES Before engaging in a derivative transaction, an insurer shall establish written guidelines, approved by the commissioner, that shall be used for effecting and maintaining derivative transactions. The guidelines shall: specify th…

6.6.4023 COMMISSIONER APPROVAL Written documentation explaining the insurer's internal guidelines and controls governing derivative transactions shall be submitted for approval to the commissioner. The commissioner shall have the authority to disapprove the guidelines and control…

6.6.4025 INSURER DOCUMENTATION REQUIREMENTS An insurer shall maintain documents and records relating to each derivative transaction, including: the purpose of the transaction; the assets or liabilities to which the transaction relates; the specific derivative instrument used in t…

6.6.4027 TRADING REQUIREMENTS Each derivative instrument shall be: traded on a qualified exchange; entered into with, or guaranteed by, a business entity; issued or written with the issuer of the underlying interest on which the derivative instrument is based; or entered into wit…

6.6.403 REPRESENTATION OF SPECIAL TITLE, POLICY, OR COMPANY DIVISION (IS HEREBY REPEALED) Authorizing statute(s): Sec. 33-1- 313, MCA Implementing statute(s): Sec. 33-1-313, MCA History: NEW, Eff. 4/4/75; REP, 1996 MAR p. 264, Eff. 1/26/96.

6.6.404 REPRESENTATIONS AS TO POLICY VALUE AND SIZE (IS HEREBY REPEALED) Authorizing statute(s): Sec. 33-1-313, MCA Implementing statute(s): Sec. 33- 1-313, MCA History: NEW, Eff. 4/4/75; REP, 1996 MAR p. 264, Eff. 1/26/96.

6.6.405 DOWN PAYMENT REQUIRED (IS HEREBY REPEALED) Authorizing statute(s): Sec. 33-1-313, MCA Implementing statute(s): Sec. 33-1-313, MCA History: NEW, Eff. 4/4/75; REP, 1996 MAR p. 264, Eff. 1/26/96.

6.6.406 RECEIPTS (IS HEREBY REPEALED) Authorizing statute(s): Sec. 33- 1-313, MCA Implementing statute(s): Sec. 33-1-313, MCA History: NEW, Eff. 4/4/75; REP, 1996 MAR p. 264, Eff. 1/26/96.

6.6.407 ALLOWABLE FINANCING ARRANGEMENTS (IS HEREBY REPEATED) Authorizing statute(s): Sec. 33-1-313, MCA Implementing statute(s): Sec. 33-1-313, MCA History: NEW, Eff. 4/4/75; REP, 1996 MAR p. 264, Eff. 1/26/96.

6.6.408 PROMISSORY NOTES (IS HEREBY REPEALED) Authorizing statute(s): Sec. 33-1-313, MCA Implementing statute(s): Sec. 33-1-313, MCA History: NEW, Eff. 4/4/75; REP, 1996 MAR p. 264, Eff. 1/26/96.

6.6.409 TRANSFER OF PROMISSORY NOTES (IS HEREBY REPEALED) Authorizing statute(s): Sec. 33-1-313, MCA Implementing statute(s): Sec. 33-1-313, MCA History: NEW, Eff. 4/4/75; REP, 1996 MAR p. 264, Eff. 1/26/96.

6.6.410 CANCELLATION, RELEASE, AND REFUND (IS HEREBY REPEALED) Authorizing statute(s): Sec. 33-1-313, MCA Implementing statute(s): Sec. 33-1-313, MCA History: NEW, Eff. 4/4/75; REP, 1996 MAR p. 264, Eff. 1/26/96.

6.6.4101 ACCREDITATION FEES (REPEALED) Authorizing statute(s): 33-1-313, 33-2-708, MCA Implementing statute(s): 33-2-708, MCA History: NEW, 1993 MAR p. 2764, Eff. 11/25/93; AMD, 1997 MAR p. 2058, Eff. 11/18/97; REP, 2017 MAR p. 1887, Eff. 10/14/17.

6.6.4102 CONTINUING EDUCATION FEES Accredited educational institutions are exempt from fee requirements for courses provided for academic credit. Authorizing statute(s): Sec. 33-1-313, 33-2-708, and 33-17-1206, MCA Implementing statute(s): Sec. 33-2-708, 33-17-1204, 33-17-1205, a…

6.6.4201 SCOPE OF RULES These rules apply to continuing education programs for insurance producers, adjuster, and consultants, and include course content, qualifications of instructors, instructional format, courses and materials, review and approval procedures, application forms…

6.6.4202 DEFINITIONS For the purposes of this subchapter, the following terms have the following meanings: "Accredited university or college" means an institution of higher learning that is certified by its appropriate accrediting agency to meet that agency's prescribed standards…

6.6.4203 COURSE SUBMISSIONS Except as provided in (14) and ARM 6.6.4213, the following standards, by which acceptability of submitted courses should be evaluated, must all be certified by the sponsoring organization: the practical and academic experience of each faculty member is…

6.6.4204 QUALIFICATIONS FOR INSTRUCTORS Unless exempted by ARM 6.6.4213, instructors must meet the following qualifications for the commissioner to approve the course: hold a high school diploma or equivalent certificate; and have experience in at least one of the following: have…

6.6.4205 EXAMINATIONS Except as provided in (5) below, all courses must include an examination which requires a passing score to qualify for a certificate of completion. For each approved course, the sponsoring organization shall maintain a pool of tests sufficient to maintain th…

6.6.4206 LIMIT ON CREDIT FOR COURSES REPEATED AND TIMING OF EARNING CREDITS A licensee may not earn credit for any courses repeated as either student or instructor within the same biennial cycle. A licensee may earn credit as soon as the licensee is licensed. Authorizing statute(…

6.6.4207 EXTENSIONS OF TIME FOR COURSE COMPLETIONS (IS HEREBY REPEALED) Authorizing statute(s): 33-1-313 and 33-17-1206, MCA Implementing statute(s): 2-4-631 and 33-17-1205, MCA History: NEW, 1993 MAR p. 3004, Eff. 12/24/93; AMD, 1996 MAR p. 1661, Eff. 6/21/96; REP, 2003 MAR p. 2…

6.6.4208 NONRESIDENT REQUIREMENTS A nonresident licensee may satisfy the continuing education requirements of this state by submitting proof of course completion that demonstrates compliance with the Continuing Legal Education (CLE) requirements of the home state or designated ho…

6.6.4209 COURSE AUDIT The commissioner or members of the commissioner's staff may audit courses approved for the continuing education program on a no-fee basis and as a regular part of course review, with or without notice to the course provider. A sponsoring organization shall p…

6.6.4210 SANCTIONS AGAINST COURSES AND SPONSORING ORGANIZATION SUSPENSION Approval of a program may be revoked or placed under probationary approval if the commissioner determines that: the program teaching method or program content no longer meet the standards of these rules or …

6.6.4211 REQUESTS FOR RECONSIDERATION OF CREDIT HOUR ASSIGNMENT A sponsoring organization may request reconsideration of the credit hours assigned to a course. Such requests must: be in writing; include any additional supporting documentation on which the request is based to incl…

6.6.4212 REQUESTS FOR RECONSIDERATION OF COURSE DISAPPROVAL A sponsoring organization may request reconsideration of the credit hours assigned to a course. Such requests must: be in writing; include any additional supporting documentation on which the request is based; and be sub…

6.6.4213 CONDITIONS OF NONRESIDENT SPONSORING ORGANIZATIONS A nonresident sponsoring organization doing business in this state through any agreement conveying reciprocity to such an entity is subject to the following conditions: the commissioner may not require the sponsoring org…

6.6.4214 EXTENSIONS OF TIME FOR COURSE COMPLETION A request for an extension of time for required credit hour completion must be in writing and must include a narrative description of the reasons for the request and any available documentation to support the request. The licensee…

6.6.4301 DEFINITIONS (REPEALED) Authorizing statute(s): 33-1-313, 33-2-709, 33-17-236, MCA Implementing statute(s): 33-2-708, 33-17-236, 33-17-237, MCA History: NEW, 1994 MAR p. 1820, Eff. 7/8/94; REP, 2017 MAR p. 1890, Eff. 10/14/17.

6.6.4302 ALLOWABLE METHODS OF ELECTRONIC FILING (REPEALED) Authorizing statute(s): 33-1-313, 33-2-709, 33-17-236, MCA Implementing statute(s): 33-2-708, 33-17-236, 33-17-237, MCA History: NEW, 1994 MAR p. 1820, Eff. 7/8/94; REP, 2017 MAR p. 1890, Eff. 10/14/17.

6.6.4303 PROCEDURES FOR ELECTRONIC FILING OF APPOINTMENTS (REPEALED) Authorizing statute(s): 33-1-313, 33-2-709, 33-17-236, MCA Implementing statute(s): 33-2-708, 33-17-236, 33-17-237, MCA History: NEW, 1994 MAR p. 1820, Eff. 7/8/94; REP, 2017 MAR p. 1890, Eff. 10/14/17.