{"data":{"id":"us-mt/33-4-521","jurisdiction":"us-mt","citation":"33-4-521","heading":"Farm mutual insurers -- merger.","body":"(1) A domestic farm mutual insurer may not merge or consolidate with a stock insurer.\n(2) A domestic farm mutual insurer may merge or consolidate with another farm mutual insurer or another domestic mutual insurer if:\n(a) the insurers transact similar lines of business;\n(b) the insurers agree on a plan for merger or consolidation which must be submitted to all members of each insurer by ballot and approved by two-thirds of the members voting for each respective insurer; and\n(c) after submitting the plan for review and opportunity for a hearing, the commissioner provides written approval or denial of the merger or consolidation within a reasonable time.\n(3) After opportunity for a hearing in subsection (2), the commissioner may not approve the merger or consolidation if evidence shows that it:\n(a) is inequitable to the policyholders of any domestic mutual insurer involved;\n(b) would substantially reduce the security of and service to be rendered to policyholders of the domestic mutual insurer; or\n(c) is contrary to law.\n(4) Sections 33-3-217(5) and 33-3-218 also apply to mergers and consolidations of mutual insurers with farm mutual insurers.\n(5) Upon merger or consolidation of a domestic farm mutual insurer with another domestic mutual insurer under this chapter, the corporate charter of the merged or consolidated domestic farm mutual insurer must automatically be extinguished and nullified.","path":["TITLE 33. INSURANCE AND INSURANCE COMPANIES","CHAPTER 4. FARM MUTUAL INSURERS","Part 5. Insurance Operations"],"source_url":"https://mca.legmt.gov/bills/mca/title_0330/chapter_0040/part_0050/section_0210/0330-0040-0050-0210.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:52:23Z","sha256":"ff8380cd12e1cf57a311cc53a500fceef898e60c8778da504f0e4cd0934a9a4a","source_id":"us-mt","stale":false,"prev":"us-mt/33-4-512","next":"us-mt/33-4-522"},"notice":"GroundRules: Original legal text. Not legal advice."}