Legislation

Search OpenLegislation Statutes

This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 6618
Suits to recover assessments
Insurance (ISC) CHAPTER 28, ARTICLE 66
§ 6618. Suits to recover assessments. (a) An assessment corporation
may maintain a civil action against any member or former member of such
corporation for the unpaid amount of any extraordinary or post
assessment lawfully levied against him, or against any former member of
such corporation for the earned portion of any advance assessment which
he has failed to pay.

(b) In any such action the corporation may recover, in addition to
such sum or sums, legal interest thereon and the amount of any penalty
imposed by such corporation's by-laws for failure to pay such
assessments; but no such corporation shall provide in its by-laws for
such a penalty in excess of fifty percent of such an assessment.