§435E-20 - Death of member.
§435E-20 Death of member. In the event
a participating member who is in full compliance with the trust agreement dies,
the initial contribution made by the decedent shall be returned to the member's
estate or designated beneficiary; the indemnity coverage shall continue for the
benefit of the decedent's estate in respect of occurrences during the time the
decedent was a participating member; and neither the person receiving the
repayment of the initial contribution nor the decedent's estate shall be responsible
for any assessments levied following the death of the member. [L 1977, c 182,
pt of §1]