GroundRules
← Search the law
Maine · Through October 1, 2025

24-A M.R.S. §3868: Subscribers' liability

Read at publisher ↗
Where this section sits in the code
  1. TITLE 24-A: MAINE INSURANCE CODE
  2. CHAPTER 53: RECIPROCAL INSURERS

1. The liability of each subscriber, other than as to a nonassessable policy, for the obligations of the reciprocal insurer shall be an individual, several and proportionate liability, and not joint.

2. Except as to a nonassessable policy, each subscriber has a contingent assessment liability, in the amount provided for in the power of attorney or in the subscribers' agreement, for payment of actual losses and expenses incurred while the subscriber's policy was in force. Such contingent liability may be at the rate of not less than one nor more than 10 times the premium or premium deposit stated in the policy, and the maximum aggregate thereof must be computed in the manner set forth in section 3872.

3. Each assessable policy issued by the insurer shall contain a statement of the contingent liability, set in type of the same prominence as the insuring clause.

Collected 2026-09-04T15:12:33Z. Source file · JSON

Browse this collection