Insurance Law 4112 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 4111 Mutual companies; assessments up ARTICLE 41 Property/casualty Insurance Companies next SECTION 4113 Mutual companies; non-assessable policies Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 4112 Mutual companies; protection against assessments Insurance (ISC) CHAPTER 28, ARTICLE 41 § 4112. Mutual companies; protection against assessments. No domestic mutual property/casualty insurance company and no officer or representative thereof shall make any contract whether on behalf of such company or of all or any of its policyholders, whereby the company or the policyholders are insured or indemnified against the imposition or payment of assessments which may be made upon members of the company, if the contract is cancellable or otherwise terminable by any party thereto upon the giving of notice of cancellation or termination within a period of less than one year before the effective date of the cancellation or termination.