New York Laws
Article 66 - Co-Operative Property/casualty Insurance Companies
6616 - Extraordinary Assessments; Assessment Corporations.

(b) Any assessment corporation if issuing policies on but one class of
property, may levy an extraordinary assessment upon all its members in
proportion to the several amounts of insurance held by each.
(c) Any assessment corporation if issuing policies on more than one
class of property, may levy an extraordinary assessment at rates of
assessment determined in proportion to the amounts of insurance held by
each on the basis of classifications adopted by its board of directors
to express the relative hazards of the properties insured.
(d) Any assessment corporation if collecting assessments in advance on
the initial and anniversary dates of policies may levy an extraordinary
assessment determined by applying to the assessment earned on the
members' policy or policies in force during the fiscal year next
preceding the levy of additional assessment, the ratio of the total
additional assessment to the total assessment earned during said period
on all policies.
(e) No extraordinary assessment shall be made by any such assessment
corporation until after approval by the superintendent and if made shall
be in each case, an amount equal to the members' proportionate share of
such impairment as specified herein.
(f) Any assessment corporation which levies annual assessments in
advance may if its by-laws provide, limit the contingent liability of a
member thereof to not less than once the amount of and in addition to
the annual assessment which would be charged for insurance for one year.