1994 Alaska Statutes
TITLE 21 INSURANCE
Chapter 21.84. FRATERNAL BENEFIT SOCIETIES
Sec. 21.84.190. MEMBER'S SHARE OF DEFICIENCY.
Sec. 21.84.190. MEMBER'S SHARE OF DEFICIENCY.
A society shall provide in its constitution or laws that if its reserves as to all or any class of certificates become impaired its board of directors or corresponding body may require that there shall be paid by the member to the society the amount of the member's equitable proportion of the deficiency as ascertained by its board, and that if the payment is not made it shall stand as an indebtedness against the member's certificate and draw interest not to exceed five per cent a year compounded annually.
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