Section 27-31-24 Levy of assessments on subscribers of domestic insurers - Aggregate liability. - Alabama Statutes

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Section 27-31-24

Levy of assessments on subscribers of domestic insurers - Aggregate liability.

No one policy or subscriber as to such policy shall be assessed or charged with an aggregate of contingent liability as to obligations incurred by a domestic reciprocal insurer in any one calendar year in excess of the amount provided for in the power of attorney or in the subscribers' agreement, computed solely upon premium earned on such policy during that year.

(Acts 1971, No. 407, p. 707, §614.)

State Codes and Statutes

Statutes > Alabama > Title27 > Chapter31 > 27-31-24

Section 27-31-24

Levy of assessments on subscribers of domestic insurers - Aggregate liability.

No one policy or subscriber as to such policy shall be assessed or charged with an aggregate of contingent liability as to obligations incurred by a domestic reciprocal insurer in any one calendar year in excess of the amount provided for in the power of attorney or in the subscribers' agreement, computed solely upon premium earned on such policy during that year.

(Acts 1971, No. 407, p. 707, §614.)

State Codes and Statutes

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State Codes and Statutes

Statutes > Alabama > Title27 > Chapter31 > 27-31-24

Section 27-31-24

Levy of assessments on subscribers of domestic insurers - Aggregate liability.

No one policy or subscriber as to such policy shall be assessed or charged with an aggregate of contingent liability as to obligations incurred by a domestic reciprocal insurer in any one calendar year in excess of the amount provided for in the power of attorney or in the subscribers' agreement, computed solely upon premium earned on such policy during that year.

(Acts 1971, No. 407, p. 707, §614.)