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Current as of January 01, 2025 | Updated by Findlaw Staff
The board may abate or defer, in whole or in part, the assessment of a member if, in the opinion of the board, payment of the assessment would endanger the ability of the member to fulfill its contractual obligations. In the event an assessment against a member is abated or deferred in whole or in part, the amount by which such assessment is abated or deferred may be assessed against the other members in a manner consistent with the basis for assessment set forth in subsections 1, 2, and 3 of section 376.973. The member receiving such abatement or deferment shall remain liable to the pool for the deficiency for four years.
Cite this article: FindLaw.com - Missouri Revised Statutes Title XXIV. Business and Financial Institutions § 376.984. Abatement or deferring all or part of assessment of member, when--amount abated or deferred may be assessed against other members--deficiency liability - last updated January 01, 2025 | https://codes.findlaw.com/mo/title-xxiv-business-and-financial-institutions/mo-rev-st-376-984/
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