ARTICLE 6. Assessments and Coverage of Loss [8090. - 8097.]

Article 6 enacted by Stats. 1935, Ch. 145.

§§ 8090–8097 · 8 sections

• § 8090 When the amount of any ascertained loss exceeds the cash funds of the reinsurer and also exceeds one-eighth of one per cent of the total amount of the…
• § 8091 When the amount of such loss does not exceed one-eighth of one per cent of the total amount of insurance in force in the reinsurer, the directors may, by…
• § 8092 The term of such loan shall not be longer than twelve months, and the date of maturity shall not be more than thirty days beyond the date of the next annual…
• § 8093 The board of directors may at their annual meeting levy an assessment not exceeding twenty-five cents on the $100 of reinsurance. The sum so raised shall…
• § 8094 Whenever an assessment is made, the secretary shall immediately notify every member by registered letter addressed to the secretary of the member at its usual…
• § 8095 An action may be brought against any member of such reinsurer that neglects or refuses to pay the liabilities due such reinsurer.
• § 8096 The directors of any such reinsurer who wilfully refuse or neglect to perform the duties imposed upon them by law or by the by-laws of the reinsurer are liable…
• § 8097 An action may also be brought and maintained against any such reinsurer by members thereof to recover sums owing them for losses sustained when payment is…