{"data":{"id":"us-mt/33-27-103","jurisdiction":"us-mt","citation":"33-27-103","heading":"Definitions.","body":"As used in 15-30-2118, 15-31-117, 15-31-118, and this chapter, the following definitions apply:\n(1) \"Fiscal year\" means the 12-month period used by a particular small business in preparing and filing its Montana individual income tax, corporate income tax, or alternative corporate income tax return.\n(2) \"Independent liability fund\" means a collection of money, assets, and investments that has been set aside by a small business to meet the needs of any liability claims, except workers' compensation claims, brought against it by third parties.\n(3) \"Liability claim\" means any legal or extralegal action by a third party asserting a right to compensation for a wrong done to it by a small business with an independent liability fund.\n(4) \"Small business\" means any commercial or nonprofit enterprise qualified to do business in the state and qualified as a small business under the criteria established by the federal small business administration on April 20, 1987.\n(5) \"Third party\" means a person other than an employee or the management of a small business or of a subsidiary or closely related enterprise of a small business.","path":["TITLE 33. INSURANCE AND INSURANCE COMPANIES","CHAPTER 27. INDEPENDENT LIABILITY FUND","Part 1. General Provisions"],"source_url":"https://mca.legmt.gov/bills/mca/title_0330/chapter_0270/part_0010/section_0030/0330-0270-0010-0030.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:52:52Z","sha256":"5baea63e5cab62af700dd077783755b1aee76466133ffa8489ca0a0642f8d7b4","source_id":"us-mt","stale":false,"prev":"us-mt/33-27-102","next":"us-mt/33-27-104"},"notice":"GroundRules: Original legal text. Not legal advice."}