§ 33-5-407

33-5-407. Time limit for assessments. Every subscriber of a domestic reciprocal insurer having contingent liability must be liable for and shall pay the subscriber's share of any assessment, as computed and limited in accordance with this chapter, if: (1) while the subscriber's policy is in force or within 1 year after its termination, the subscriber is notified by either the attorney or the commissioner of the intention to levy an assessment; or (2) an order to show cause why a receiver, conservator, rehabilitator, or liquidator of the insurer should not be appointed is issued while the subscriber's policy is in force or within 1 year after its termination. History: En. Sec. 559, Ch. 286, L. 1959; R.C.M. 1947, 40-5022; amd. Sec. 1163, Ch. 56, L. 2009.