ยง 4112. Mutual companies; protection against assessments. No domestic
mutual property/casualty insurance company and no officer or
representative thereof shall make any contract whether on behalf of such
company or of all or any of its policyholders, whereby the company or
the policyholders are insured or indemnified against the imposition or
payment of assessments which may be made upon members of the company, if
the contract is cancellable or otherwise terminable by any party thereto
upon the giving of notice of cancellation or termination within a period
of less than one year before the effective date of the cancellation or
termination.
Structure New York Laws
Article 41 - Property/casualty Insurance Companies
4103 - Stock Companies; Financial Requirements.
4105 - Domestic Stock Companies; Declaration and Payment of Dividends.
4106 - Stock Companies; Participating Policies.
4107 - Domestic Mutual Companies; Financial and Other Requirements.
4108 - Foreign and Alien Mutual Companies; Licensing.
4109 - Mutual Companies; Special Contingent Surplus.
4110 - Domestic Mutual Companies; Expense Limits.
4111 - Mutual Companies; Assessments.
4112 - Mutual Companies; Protection Against Assessments.
4113 - Mutual Companies; Non-Assessable Policies.
4114 - Mutual Companies; Dividends.
4115 - Certain Mutual Companies Existing Prior to January First, Nineteen Hundred Forty.
4116 - Domestic Mutual Companies; Voting Rights of Members.
4117 - Loss and Loss Expense Reserves.
4118 - Limitation of Risks; Fidelity and Surety; Fire; Hospital Mutuals.
4119 - Foreign and Alien Companies; License Qualification.
4121 - Security May Be Required From Banking Officers and Employees.