31A-14-215. Assessment by foreign company.
105 words·~1 min read·
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31A-14-215. Assessment by foreign company.
Every foreign mutual insurer authorized in this state shall notify the commissioner immediately after making an assessment upon any of its members in this state. The insurer shall attach to the notice a statement of the condition of the insurer, giving the facts showing the necessity for the assessment. Unless the commissioner orders otherwise under a Chapter 27, Part 5, Administrative Actions , proceeding, a foreign mutual insurer authorized in this state may not make or increase any assessment because of its inability to collect assessments from its members in other states.
Amended by Chapter 309 , 2007 General Session