760 IAC 1-75-13 - Liability of risk pool participants

Authority: IC 20-42.5-2-1

Affected: IC 20-42.5-2-1

Sec. 13.

(a) The liability of each risk pool participant for the obligations of the risk pool is joint and several.

(b) Each risk pool participant has a contingent assessment liability under this section for payment of actual losses and expenses incurred during participation in the risk pool.

(c) Each participation agreement issued by the risk pool must contain a statement of the contingent liability of risk pool participants as required by section 14 of this rule.

Notes

760 IAC 1-75-13

Department of Insurance; 760 IAC 1-75-13; filed Apr 14, 2008, 10:28 a.m.: 20080514-IR-760070144FRA Readopted filed 11/17/2014, 3:39 p.m.: 20141217-IR-760140197RFA Readopted filed 11/24/2020, 10:27 a.m.: 20201223-IR-760200464RFA