Insurance Law 6626 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 6625 Merger; consolidation up ARTICLE 66 Co-operative Property/casualty Insurance Companies Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 6626 Qualification of membership Insurance (ISC) CHAPTER 28, ARTICLE 66 § 6626. Qualification of membership. (a) In addition to the legal ability of any natural person to insure in any advance premium or assessment corporation property located in the territory in which such corporation is licensed to do business and in which property he has an insurable interest, it shall also be lawful for any corporation, board, estate, or association to insure in any co-operative property/casualty insurance company property located in the territory in which such corporation is licensed to do business, and in which property it has an insurable interest. (b) Any officer, trustee, board member, or legal representative of such corporation, board, estate, or association may be recognized for or on its behalf for the purpose of membership, but shall not be personnally liable upon such contract or contracts of insurance by reason of acting in such representative capacity.