40-1010. Suits for collection of assessments; liability of officers and directors; suits against company for losses.
40-1010
40-1010. Suits for collection of assessments; liability of officersand directors; suits against company for losses.Suits for the collection of any assessment made upon the deposit note ofthe insured may be brought in a court of competent jurisdiction in thecounty in which the insured resides; and the officers and directors of anycompany so formed who shall willfully refuse or neglect to perform theduties imposed upon them by the provisions of this article shall be liablein their individual capacity to the person sustaining such loss. Suits atlaw may be brought and maintained against any such company by the membersthereof for losses sustained, if payment is withheld after such losses havebecome due.
History: L. 1927, ch. 231, 40-1010; L. 1973, ch. 134, § 40; July 1, 1974.