Maine § 24-A §3366 Enforcement of contingent liability

Maine Statutes

§ 24-A §3366 — Enforcement of contingent liability

Maine·Title 24-A MAINE INSURANCE CODE·Ch. 47 ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS

1.The insurer shall notify each member of the amount of assessment to be paid, and the date, not less than 20 days after mailing date, by which payment is to be made, by written notice mailed to the member at the member's address last of record with the insurer. Failure of the member to receive the notice so mailed, within the time specified therein for the payment of the assessment or at all, is not a defense in any action to collect the assessment.

2.If a member fails to pay the assessment within the period specified in the notice, the insurer may institute suit to collect the same.

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1.
The insurer shall notify each member of the amount of assessment to be paid, and the date, not less than 20 days after mailing date, by which payment is to be made, by written notice mailed to the member at the member's address last of record with the insurer. Failure of the member to receive the notice so mailed, within the time specified therein for the payment of the assessment or at all, is not a defense in any action to collect the assessment.
2.
If a member fails to pay the assessment within the period specified in the notice, the insurer may institute suit to collect the same.

Maine § 24-A §3366 (Enforcement of contingent liability) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.