Maine § 24-A §3620 -- when assessment final; costs; control of funds and payment of assessments

Maine Statutes

§ 24-A §3620 — -- when assessment final; costs; control of funds and payment of assessments

Maine·Title 24-A MAINE INSURANCE CODE·Ch. 51 DOMESTIC MUTUAL ASSESSMENT INSURERS

1.When an assessment or call has been ratified, ascertained or established as provided for in sections 3617 to 3619, a decree shall be entered which shall be final and conclusive upon the insurer and all parties liable to the assessment or call as to the necessity of the same, the authority of the insurer to make or collect it, the amount thereof and all formalities connected therewith. Where an assessment or call is altered or amended by vote of directors and decree of the court thereon, such amended or altered assessment or call is binding upon all parties who would have been liable under it as originally made, and in all legal proceedings shall be held to be such original assessment or call.

2.All proceedings shall be at the cost of the insurer, unless the court for cause otherwise or

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1.
When an assessment or call has been ratified, ascertained or established as provided for in sections 3617 to 3619, a decree shall be entered which shall be final and conclusive upon the insurer and all parties liable to the assessment or call as to the necessity of the same, the authority of the insurer to make or collect it, the amount thereof and all formalities connected therewith. Where an assessment or call is altered or amended by vote of directors and decree of the court thereon, such amended or altered assessment or call is binding upon all parties who would have been liable under it as originally made, and in all legal proceedings shall be held to be such original assessment or call.
2.
All proceedings shall be at the cost of the insurer, unless the court for cause otherwise orders.
3.
In all cases the court may control the disposal of the funds collected under these proceedings, and may issue all necessary processes to enforce the payment of such assessments against all persons liable therefor.

Maine § 24-A §3620 (-- when assessment final; costs; control of funds and payment of assessments) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.