2006 Nebraska Revised Statutes - § 44-218 — Mutual company; limitation of liability.

Section 44-218
Mutual company; limitation of liability.

The liability of a member of a mutual company shall be limited to the premiums stated in the policy.

Source:

Laws 1913, c. 154, § 79, p. 428

R.S.1913, § 3216

Laws 1919, c. 190, tit. V, art. V, § 2, p. 608

C.S.1922, § 7815

Laws 1925, c. 124, § 2, p. 328

C.S.1929, § 44-402

Laws 1931, c. 89, § 1, p. 251

C.S.Supp.,1941, § 44-402

R.S.1943, § 44-218

Laws 1957, c. 189, § 1, p. 662

Laws 1989, LB 92, § 64

Annotations:

Assessments conformed to statute and could be recovered by company in action against policyholder. Nebraska Mutual Ins. Co. v. Borden, 132 Neb. 656, 272 N.W. 767 (1937).

Assessment in excess of limitation herein prescribed is at least partially invalid, and failure to pay same is no defense to action on policy. Hobza v. State Farmers Ins. Co., 125 Neb. 776, 252 N.W. 214 (1934).

~Reissue Revised Statutes of Nebraska