1. MCA Contents
  2. TITLE 33
  3. CHAPTER 3
  4. Part 4
  5. 33-3-434 Directors' liability for losses during deficiency

TITLE 33. INSURANCE AND INSURANCE COMPANIES

CHAPTER 3. DOMESTIC STOCK AND MUTUAL INSURERS

Part 4. Finance

Directors' Liability For Losses During Deficiency

33-3-434. Directors' liability for losses during deficiency. The directors of the insurer shall be individually liable as to losses incurred under policies issued by the insurer after expiration of the period provided in 33-3-432 for curing any deficiency of the insurer's capital stock or surplus and prior to the curing of the deficiency.

History: En. Sec. 458, Ch. 286, L. 1959; R.C.M. 1947, 40-4741.