New York Laws
Article 66 - Co-Operative Property/casualty Insurance Companies
6614 - Contingent Liability of Members; Advance Premium Corporations.

(b) The contingent liability of a member of an advance premium
corporation shall be subject to enforcement and collection by the
corporation for the purpose of removing any impairment in the reserves
required by this article. Such contingent liability shall apply only to
such impairments which occur during the member's tenure as a
policyholder.
(c) No assessment premised upon the contingent liability of members
shall be made by any such corporation until after approval by the
superintendent and shall, subject in all cases to the limitation
contained in the contracts thereby affected, as to the maximum amount of
such contingent liability, be in each case an amount equal to the
member's proportionate share of such impairment.

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