44-218. Mutual company; limitation of liability.
83 words·~1 min read·
/ne/chapter-44/44-218A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The liability of a member of a mutual company shall be limited to the premiums stated in the policy.
Assessments conformed to statute and could be recovered by company in action against policyholder. Nebraska Mutual Ins. Co. v. Borden, 132 Neb. 656, 272 N.W. 767 (1937).
Assessment in excess of limitation herein prescribed is at least partially invalid, and failure to pay same is no defense to action on policy. Hobza v. State Farmers Ins. Co., 125 Neb. 776, 252 N.W. 214 (1934).