{"data":{"id":"us-mt/72-38-113","jurisdiction":"us-mt","citation":"72-38-113","heading":"Insurable interest of trustee.","body":"(1) In this section, \"settlor\" means a person who executes a trust instrument. The term includes a person for which a fiduciary or agent is acting.\n(2) A trustee of a trust has an insurable interest in the life of an individual insured under a life insurance policy that is owned by the trustee of the trust acting in a fiduciary capacity or that designates the trust itself as the owner if, on the date the policy is issued:\n(a) the insured is:\n(i) a settlor of the trust; or\n(ii) an individual in whom a settlor of the trust has, or would have had if living at the time the policy was issued, an insurable interest; and\n(b) the life insurance proceeds are primarily for the benefit of one or more trust beneficiaries who have an insurable interest in the life of the insured as provided in 33-15-201.","path":["TITLE 72. ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS","CHAPTER 38. MONTANA UNIFORM TRUST CODE","Part 1. General Provisions, Definitions, Constructive and Resulting Trusts, and Notice of Proposed Action by Trustee"],"source_url":"https://mca.legmt.gov/bills/mca/title_0720/chapter_0380/part_0010/section_0130/0720-0380-0010-0130.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:59:32Z","sha256":"8fa1e57557f3379767eaffd8efe598a31a605c8451a96cdceeb1e31db190952f","source_id":"us-mt","stale":false,"prev":"us-mt/72-38-112","next":"us-mt/72-38-114"},"notice":"GroundRules: Original legal text. Not legal advice."}