Legislation
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.
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.