2019 Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 20. Life Insurance
Part 9. Annuity Disclosure
33-20-906. Report to contract owners

Universal Citation: MT Code § 33-20-906 (2019)

33-20-906. Report to contract owners. (1) For annuities in the payout period with changes in nonguaranteed elements and for the accumulation period of a deferred annuity, the insurer shall provide each contract owner with a report, at least annually, on the status of the contract.

(2) The report must contain at least the following information:

(a) the beginning and ending date of the current report period;

(b) the accumulation and cash surrender value, if any, at the end of the previous report period and at the end of the current report period;

(c) the total amounts, if any, that have been credited, charged to the contract value, or paid during the current report period; and

(d) the amount of outstanding loans, if any, as of the end of the current report period.

History: En. Sec. 12, Ch. 476, L. 2007.

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