Okla. Stat. tit. 36, § 36-2921
This is the official text of Okla. Stat. tit. 36, § 36-2921, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
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Subscriber's liability
Official statutory text
A. The liability of each subscriber, other than as to a
nonassessable policy, for the obligations of the reciprocal insurer
shall be an individual, several, and proportionate liability, and
not joint.
B. Except as to a nonassessable policy each subscriber shall
have a contingent assessment liability, in the amount provided for
in the power of attorney or in the subscribers' agreement, for
payment of actual losses and expenses incurred while his policy was
in force. Such contingent liability may be at the rate of not less
than one nor more than ten times the premium or premium deposit
stated in the policy, and the maximum aggregate thereof shall be
computed in the manner set forth in section 2925 of this article.
C. Each assessable policy issued by the insurer shall contain a
statement of the contingent liability, set in type of the same
prominence as the insuring clause.
nonassessable policy, for the obligations of the reciprocal insurer
shall be an individual, several, and proportionate liability, and
not joint.
B. Except as to a nonassessable policy each subscriber shall
have a contingent assessment liability, in the amount provided for
in the power of attorney or in the subscribers' agreement, for
payment of actual losses and expenses incurred while his policy was
in force. Such contingent liability may be at the rate of not less
than one nor more than ten times the premium or premium deposit
stated in the policy, and the maximum aggregate thereof shall be
computed in the manner set forth in section 2925 of this article.
C. Each assessable policy issued by the insurer shall contain a
statement of the contingent liability, set in type of the same
prominence as the insuring clause.
Status: in_force · Read it on the official government site
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