§ 24-207. Assessments; nonassessable policies

Latest version.

   (a) Assessments. -- Each policyholder is subject to assessment as provided in § 3-110, 3-111, and 3-112 of this article.

(b) Nonassessable policies. -- Notwithstanding subsection (a) of this section, if the Society meets all applicable requirements of this article about the sale of nonassessable policies, including the requirements of § 4-104, 4-105, and 4-106 of this article, the Society may issue nonassessable policies subject to:

   (1) § 3-113 of this article;

   (2) all other applicable provisions of this article; and

   (3) the Corporations and Associations Article.

HISTORY: 1997, ch. 57, § 4; 2005, ch. 25, § 1.

                    
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