Any such mutual company not possessed of assets at least equal to the unearned premium reserve and other liabilities shall make an assessment upon its members liable to assessment to provide for such deficiency, such assessment to be against each member in proportion to such liability as expressed in the member's policy; provided the commissioner may by written order, relieve the company from an assessment or other proceedings to restore such assets during the time fixed in such order.
[C24, 27, 31, 35, 39, § 8911; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 515.18]
Referred to in § 515.20
Previous Section 515.17
Next Section 515.19
© 2000 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Wed Aug 16 21:03:56 CDT 2000
URL: /DOCS/IACODE/1999SUPPLEMENT/515/18.html
jhf