Section 376.984

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 376

Effective - 01 Jan 1991, see footnote   

  376.984.  Abatement or deferring all or part of assessment of member, when — amount abated or deferred may be assessed against other members — deficiency liability. — The board may abate or defer, in whole or in part, the assessment of a member if, in the opinion of the board, payment of the assessment would endanger the ability of the member to fulfill its contractual obligations.  In the event an assessment against a member is abated or deferred in whole or in part, the amount by which such assessment is abated or deferred may be assessed against the other members in a manner consistent with the basis for assessment set forth in subsections 1, 2, and 3 of section 376.973.  The member receiving such abatement or deferment shall remain liable to the pool for the deficiency for four years.

­­--------

(L. 1990 H.B. 998 § 5 subsec. 6)

Effective 1-01-91