No subscriber of a reciprocal shall be personally liable for the payment of the reciprocal's debts or obligations. Any judgment obtained against a reciprocal shall be binding and enforceable only upon and against the reciprocal and shall not be binding or enforceable upon or against any of the reciprocal's subscribers. No legal action shall be allowed to be brought or maintained against the subscribers or insureds of a reciprocal for the payment of the reciprocal's debts or obligations; provided, however, nothing in this section shall diminish or eliminate a subscriber's contingent assessment liability under an assessable policy as provided in Sections 83-33-29 and 83-33-31.
Structure Mississippi Code
Chapter 33 - Reciprocal Insurance
§ 83-33-1. Regulation of exchange
§ 83-33-3. Execution of contracts
§ 83-33-5. Declaration under oath
§ 83-33-17. Certificate of authority
§ 83-33-19. Taxation of premium receipts
§ 83-33-23. Board of directors to control and manage reciprocal
§ 83-33-25. Return of savings or credits accruing to subscribers
§ 83-33-33. Liability of subscribers for reciprocal's debts or obligations
§ 83-33-37. Two or more reciprocals authorized to combine assets and liabilities into one reciprocal