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