Okla. Stat. tit. 36, § 36-3007
This is the official text of Okla. Stat. tit. 36, § 36-3007, 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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Liability of underwriters; limitation
Official statutory text
An underwriter at a Lloyd's may limit his total liability on all
risks to the amount of his subscription as expressed in his power of
attorney and agreement with the attorney-in-fact; provided at least
half of the subscription of each underwriter must be paid or
contributed to the guaranty fund in cash or admissible securities.
Each underwriter shall be responsible solely for his own liability
as fixed in the contract of insurance and shall not be liable as a
partner and in no event shall the liability of an underwriter exceed
the amount of his total underwriters agreement executed in favor of
his respective successor attorney or attorneys-in-fact.
risks to the amount of his subscription as expressed in his power of
attorney and agreement with the attorney-in-fact; provided at least
half of the subscription of each underwriter must be paid or
contributed to the guaranty fund in cash or admissible securities.
Each underwriter shall be responsible solely for his own liability
as fixed in the contract of insurance and shall not be liable as a
partner and in no event shall the liability of an underwriter exceed
the amount of his total underwriters agreement executed in favor of
his respective successor attorney or attorneys-in-fact.
Status: in_force · Read it on the official government site
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