Montana Code Annotated 2023



Part 1. Authorization of Insurers

Capital Or Surplus Funds Required

33-2-109. Capital or surplus funds required. (1) To qualify for authority to transact any one kind of insurance, as defined in 33-1-205 through 33-1-212, or combinations of kinds of insurance as shown below, an insurer shall possess and maintain unimpaired paid-in capital stock, if a stock insurer, or surplus, if a mutual or foreign reciprocal insurer, in an amount not less than is applicable under the schedules below and shall possess when first authorized to transact insurance any additional funds as surplus as required under 33-2-110:

(a) Kind or kindsMinimum capital or

of insurancesurplus required

Life  $200,000

Disability  200,000

Life and disability  300,000

Credit life and disability   50,000

Property  400,000

Marine  400,000


 All lines, except workers' compensation  400,000

 All lines, including workers' compensation  600,000

Surety  500,000

Title  200,000

Multiple lines, two or more of property, marine,

 casualty, or surety  800,000

(b) For insurers licensed on or after October 1, 1999:

Kind or kinds Minimum capital or

of insurance surplus required

Life  $600,000

Disability  500,000

Life and disability  750,000

Credit life and disability  150,000

Property  500,000

Marine  500,000


 All lines, except workers' compensation  500,000

 All lines, including workers' compensation  750,000

Surety  500,000

Title  500,000

Multiple lines, two or more of property, marine,

 casualty, or surety  1,000,000

(2) Surplus requirements for qualification to transact one or more kinds of insurance for domestic mutual insurers are governed by Title 33, chapter 3, and surplus requirements for domestic reciprocal insurers are governed by Title 33, chapter 5.

(3) Capital and surplus requirements must be based upon all the kinds of insurance actually transacted or to be transacted by the insurer in any areas in which it operates, whether or not only a portion of the kinds are to be transacted in this state.

(4) A life insurer may also grant annuities without additional capital or additional surplus.

(5) For a credit life and disability insurer that is not a resident domestic insurer as defined in 33-1-201 and 33-1-202, the capital or surplus required by this section is an amount equal to four times the minimum capital or surplus required for credit life and disability pursuant to subsection (1).

History: En. Sec. 52, Ch. 286, L. 1959; amd. Sec. 1, Ch. 319, L. 1977; R.C.M. 1947, 40-2807(part); amd. Sec. 2, Ch. 303, L. 1981; amd. Sec. 3, Ch. 202, L. 1983; amd. Sec. 12, Ch. 472, L. 1999.