379.095. 1. The board of directors of every mutualinsurance company organized under the provisions of sections379.010 to 379.160 shall have the power, as often as they shalldeem it necessary in order to settle the losses insured against,and the expenses and other liabilities of the company, to make anassessment upon the premium notes given by persons effectinginsurance of the company.
2. Such assessment shall be made upon each and every noteheld by the company at the time of the assessment, and which hasbeen in existence for one year prior to the date of theassessment, and shall be for a sum upon each note which bears thesame ratio to the whole amount to be raised by the assessmentthat the full sum for which such note was given bears to the fullamount for which all the notes assessed were given.
3. The amount so assessed upon each note shall be due andpayable within thirty days after the publication of a notice ofsuch assessment, and after written notice of the same to themaker of such note has been deposited in the post office, postageprepaid, or delivered to him in person; and the amount of saidassessment, when paid, shall in every case be endorsed upon saidnote at the time of the payment.
4. The publication of the above notice shall be made in somenewspaper of general circulation, published in the county or citywhere said company shall have its principal office, and shall setforth the full aggregate amount for which all the premium notesheld by the company were given, upon which the assessment ismade, the amount of losses adjusted and unpaid, the amount oflosses claimed but unadjusted, giving the names of claimants, theamount of expenses accrued and unpaid, and the amount of cash onhand.
5. If any person shall neglect or refuse to pay the sum soassessed upon him, for thirty days after the publication andmailing or delivery of said notices, the directors of saidcompany may sue for and recover the whole amount of his premiumnote held by the company, with costs of suit.
6. No person shall, in any case, be liable upon any premiumnote on account of any and all claims and assessments upon thesame for an amount greater than the face of such note.
379.095. 1. The board of directors of every mutualinsurance company organized under the provisions of sections379.010 to 379.160 shall have the power, as often as they shalldeem it necessary in order to settle the losses insured against,and the expenses and other liabilities of the company, to make anassessment upon the premium notes given by persons effectinginsurance of the company.
2. Such assessment shall be made upon each and every noteheld by the company at the time of the assessment, and which hasbeen in existence for one year prior to the date of theassessment, and shall be for a sum upon each note which bears thesame ratio to the whole amount to be raised by the assessmentthat the full sum for which such note was given bears to the fullamount for which all the notes assessed were given.
3. The amount so assessed upon each note shall be due andpayable within thirty days after the publication of a notice ofsuch assessment, and after written notice of the same to themaker of such note has been deposited in the post office, postageprepaid, or delivered to him in person; and the amount of saidassessment, when paid, shall in every case be endorsed upon saidnote at the time of the payment.
4. The publication of the above notice shall be made in somenewspaper of general circulation, published in the county or citywhere said company shall have its principal office, and shall setforth the full aggregate amount for which all the premium notesheld by the company were given, upon which the assessment ismade, the amount of losses adjusted and unpaid, the amount oflosses claimed but unadjusted, giving the names of claimants, theamount of expenses accrued and unpaid, and the amount of cash onhand.
5. If any person shall neglect or refuse to pay the sum soassessed upon him, for thirty days after the publication andmailing or delivery of said notices, the directors of saidcompany may sue for and recover the whole amount of his premiumnote held by the company, with costs of suit.
6. No person shall, in any case, be liable upon any premiumnote on account of any and all claims and assessments upon thesame for an amount greater than the face of such note.
379.095. 1. The board of directors of every mutualinsurance company organized under the provisions of sections379.010 to 379.160 shall have the power, as often as they shalldeem it necessary in order to settle the losses insured against,and the expenses and other liabilities of the company, to make anassessment upon the premium notes given by persons effectinginsurance of the company.
2. Such assessment shall be made upon each and every noteheld by the company at the time of the assessment, and which hasbeen in existence for one year prior to the date of theassessment, and shall be for a sum upon each note which bears thesame ratio to the whole amount to be raised by the assessmentthat the full sum for which such note was given bears to the fullamount for which all the notes assessed were given.
3. The amount so assessed upon each note shall be due andpayable within thirty days after the publication of a notice ofsuch assessment, and after written notice of the same to themaker of such note has been deposited in the post office, postageprepaid, or delivered to him in person; and the amount of saidassessment, when paid, shall in every case be endorsed upon saidnote at the time of the payment.
4. The publication of the above notice shall be made in somenewspaper of general circulation, published in the county or citywhere said company shall have its principal office, and shall setforth the full aggregate amount for which all the premium notesheld by the company were given, upon which the assessment ismade, the amount of losses adjusted and unpaid, the amount oflosses claimed but unadjusted, giving the names of claimants, theamount of expenses accrued and unpaid, and the amount of cash onhand.
5. If any person shall neglect or refuse to pay the sum soassessed upon him, for thirty days after the publication andmailing or delivery of said notices, the directors of saidcompany may sue for and recover the whole amount of his premiumnote held by the company, with costs of suit.
6. No person shall, in any case, be liable upon any premiumnote on account of any and all claims and assessments upon thesame for an amount greater than the face of such note.
