2006 Louisiana Laws - RS 22:445 — Subscribers\' liability
§445. Subscribers' liability
A. Except as to non-assessable policies, any contract of insurance exchanged pursuant to this Part shall provide for a contingent several liability of the subscriber for payment of actual losses and expenses incurred while such contract was in force. Such contingent liability shall be in an amount as specified in the declaration of organization.
B. Each assessable policy issued by the insurer shall plainly set forth a statement of the contingent liability.
C. The contingent liability of each subscriber for the obligations of the reciprocal insurer shall not be joint, but shall be individual and several.
Acts 1958, No. 125.
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