§435E-25  Voluntary termination of a member. A participating member who is then in full compliance with the trust agreementmay elect voluntarily to terminate his or her membership in the interindemnityarrangement.  Upon voluntary termination, such person may further elect tocease being responsible for future assessments, or to continue to pay suchassessments until such time as such person's initial contribution is repaid. In the event such person elects to cease being responsible for future assessments,the indemnity coverage shall thereupon terminate and such person shall eitherbe responsible for his or her own exposure for acts committed while aparticipating member in the interindemnity arrangement, or he or she mayrequest the interindemnity arrangement to purchase or provide, at the cost ofsuch person, coverage for such exposure.  The initial contribution of suchperson shall be repaid on the tenth anniversary of the date such contributionwas made.  In the event such person elects to continue to be responsible forassessments, the indemnity coverage shall continue in respect of occurrencesprior to the date of the voluntary termination, and the initial contribution ofsuch person shall be repaid at such time as the board of trustees is satisfiedthat (1) there are no claims pending against the person in respect ofoccurrences during the time the person was a participating member, and (2) thestatute of limitations has run on all claims which might be asserted againstthe person in respect of occurrences during such time.  In no event shall suchrepayment be made earlier than the tenth anniversary of the date suchcontribution was made. [L 1977, c 182, pt of §1]