33-4-402. Members' liability -- limitation. All liability of the members of a farm mutual insurer shall be as limited in the insurer's bylaws. As to insurers transacting business on the cash premium plan, the limitation shall comply with 33-4-504(4). No member shall be required to pay more than the full amount of his obligation given to the insurer or of his liability as provided for in the bylaws.

     History: En. Sec. 492, Ch. 286, L. 1959; R.C.M. 1947, 40-4825.