(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.
Authorizing statute(s): 80-2-201, MCA
Implementing statute(s): 80-2-244, MCA
History: NEW, 1978 MAR p. 719, Eff. 5/26/78; AMD, 1994 MAR p. 2712, Eff. 10/14/94.