304.27-190 Subscribers' liability.
(1) The liability of each subscriber, other than as to a nonassessable policy, for the
obligations of the reciprocal insurer shall be an individual, several and proportionate <br>liability, and not joint.
(2) 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 <br>subscribers' agreement, for payment of actual losses and expenses incurred while <br>his policy was in force. Such contingent liability may be at the rate of not less than <br>one (1) nor more than ten (10) times the premium or premium deposit stated in the <br>policy, and the maximum aggregate thereof shall be computed in the manner set <br>forth in KRS 304.27-230.
(3) Each assessable policy issued by the insurer shall contain a statement of the
contingent liability, set in type of the same prominence as the insuring clause.
Effective: June 18, 1970 <br>History: Created 1970 Ky. Acts ch. 301, subtit. 27, sec. 19, effective June 18, 1970.
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