24-A §3621. -- assessment not sufficient; collection stayed by court
Title 24-A: MAINE INSURANCE CODE
Chapter 51: DOMESTIC MUTUAL ASSESSMENT INSURERS
§3621. -- assessment not sufficient; collection stayed by court
Whenever it shall appear to the court before which the complaint provided for in section 3617 is pending, that the net proceeds of any assessment or call will not be sufficient to furnish substantial relief to those having claims against the insurer, it may decree that no assessment shall be collected. When, on application of the superintendent or any person interested, the court is of opinion that further attempts to collect an assessment then partially collected will not benefit those having claims against the insurer, it may stay its further collection. [1973, c. 585, §12 (NEW).]
SECTION HISTORY
1969, c. 132, §1 (NEW). 1973, c. 585, §12 (AMD).