6.6.3833    ASSUMING INSURER THAT MAINTAINS A TRUST FUND - APPLICATION OF SPECIFIC SECURITY

(1) A specific security provided to a ceding insurer by an assuming insurer pursuant to 33-2-1216(6), MCA shall be applied, until exhausted, to the payment of liabilities of the assuming insurer to the ceding insurer holding the specific security prior to, and as a condition precedent for, presentation of a claim by the ceding insurer for payment by a trustee of a trust established by the assuming insurer pursuant 33-2-1216(5), MCA and applicable rules.

History: 33-1-313, 33-2-1517, MCA; IMP, 33-2-1216, 33-2-1217, MCA; NEW, 2017 MAR p. 2432, Eff. 1/1/18.