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Rule Title: ASSUMING INSURER THAT MAINTAINS A TRUST FUND - VALUATION OF TRUST ASSETS
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Department: STATE AUDITOR
Chapter: INSURANCE DEPARTMENT
Subchapter: Credit for Reinsurance
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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6.6.3824    ASSUMING INSURER THAT MAINTAINS A TRUST FUND - VALUATION OF TRUST ASSETS

(1) Assets deposited in trusts established pursuant to 33-2-1216(5), MCA, shall be valued according to their current fair market value and shall consist only of:

(a) cash in U.S. dollars;

(b) certificates of deposit issued by a U.S. financial institution; and

(c) investments of the type specified in ARM 6.6.3826 through 6.6.3832.

(2) No more than 20% of the total of the investments in the trust may be foreign investments, and no more than 10% of the total of the investments in the trust may be securities denominated in foreign currencies. For purposes of applying the preceding sentence, a depository receipt denominated in U.S. dollars and representing rights conferred by a foreign security shall be classified as a foreign investment denominated in a foreign currency.

 

History: 33-1-313, 33-2-1517, MCA; IMP, 33-2-1216, MCA; NEW, 2016 MAR p. 2186, Eff. 11/26/16.


 

 
MAR Notices Effective From Effective To History Notes
6-226 11/26/2016 Current History: 33-1-313, 33-2-1517, MCA; IMP, 33-2-1216, MCA; NEW, 2016 MAR p. 2186, Eff. 11/26/16.
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