40-1024. Cash or notes in payment of premiums; liability of members of company.
40-1024
40-1024. Cash or notes in payment of premiums; liability of members ofcompany.Any company organized under this article having a guarantee fund of notless than twenty-five thousand dollars may except in payment of thepremiums on its policies cash or time notes payable in assessments at suchtime and place as provided in such note or notes, but the members of suchcompany shall not be liable to the company or any other person to exceedthe amount of their premiums or deposit notes and interest due thereon.
History: L. 1927, ch. 231, 40-1024; June 1.