58-34-36. Contingent assessment liability of subscriber.
87 words·~1 min read·
/sd/title-58/chapter-58-34/58-34-36·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except as to a nonassessable policy, each subscriber shall have a contingent assessment liability, in the amount provided for in the power of attorney or in the subscribers' agreement, for payment of actual losses and expenses incurred while his policy was in force. Such contingent liability may be at the rate of not less than one nor more than ten times the premium or premium deposit stated in the policy, and the maximum aggregate thereof shall be computed in the manner set forth in § 58-34-43 .