If any member is defrauded or aggrieved by any misconduct, wrongful act, misrepresentation, or failure of the club to render its services or fulfill its contractual obligations, the member may bring suit on the security in his own name, but the aggregate liability of the surety for all suits may, in no event, exceed the amount of the bond.
HISTORY: 1987 Act No. 155, Section 6, eff January 1, 1988.
Editor's Note
This section is derived from former Section 38-50-50.
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