83-31-33 - Deficiency in assets.
§ 83-31-33. Deficiency in assets.
Such company not possessed of assets at least equal to the unearned premium reserve and other liabilities shall make an assessment upon its members liable to assessment to provide for such deficiency, such assessment to be against each such member in proportion to such liability as expressed in his policy. The commissioner may, by written order, relieve the company from an assessment or other proceedings to restore such assets during the time fixed in such order.
Sources: Codes, Hemingway's 1921 Supp. § 5209m; 1930, § 5284; 1942, § 5798; Laws, 1918, ch. 157.