40-1205. Corporate membership; personal liability.
40-1205
40-1205. Corporate membership; personal liability.Any public or private corporation, board or association in this state orelsewhere may make applications, enter into agreements for and holdpolicies in any such mutual insurance company. Any officer, stockholder,trustee or legal representative of any such corporation, board, associationor estate may be recognized as acting for or on its behalf for the purposeof such membership, but shall not be personally liable upon such contractof insurance by reason of acting in such representative capacity. The rightof any corporation organized under the laws of this state to participate asa member of any such mutual insurance company is hereby declared to beincidental to the purpose for which such corporation is organized and asfully granted as the rights and powers expressly conferred.
History: L. 1927, ch. 231, 40-1205; June 1.