2011 Missouri Revised Statutes
TITLE XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376 Life, Health and Accident Insurance
Section 376.984. Abatement or deferring all or part of assessment of member, when--amount abated or deferred may be assessed against other members--deficiency liability.
Abatement or deferring all or part of assessment of member, when--amount abated or deferred may be assessed against other members--deficiency liability.
376.984. The board may abate or defer, in whole or in part, the assessment of a member if, in the opinion of the board, payment of the assessment would endanger the ability of the member to fulfill its contractual obligations. In the event an assessment against a member is abated or deferred in whole or in part, the amount by which such assessment is abated or deferred may be assessed against the other members in a manner consistent with the basis for assessment set forth in subsections 1, 2, and 3 of section 376.973. The member receiving such abatement or deferment shall remain liable to the pool for the deficiency for four years.
(L. 1990 H.B. 998 5 subsec. 6)Effective 1-1-91
Annotation Copyright Missouri Joint Committee on Legislative Research
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