Legislation

Search OpenLegislation Statutes

This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 7431
Determination of liability of members for other indebtedness
Insurance (ISC) CHAPTER 28, ARTICLE 74
§ 7431. Determination of liability of members for other indebtedness.
(a) If it shall appear that a member of a domestic mutual insurer is
indebted to such insurer, apart from his liability to assessment, the
court may, upon the application of the superintendent, in any order
under section seven thousand four hundred thirty of this article
directing such member to show cause why he should not be held liable to
pay an assessment, likewise direct him to show cause why he should not
be held liable to pay such indebtedness.

(b) The liability of such member for such indebtedness shall be
determined in the same manner, and at the same time, as his liability
for such assessment is determined, and the superintendent may have
judgment therefor, without any additional costs.