58-5-29. Contingent liability of members of mutual insurer--Exception. Every member of a domestic mutual insurer shall, except as otherwise provided with respect to nonassessable policies, have only a prorata contingent liability for the discharge of its obligations, which contingent liability shall be expressed in the policy and be in such maximum amount as is specified in the insurer's articles of incorporation.
Source: SL 1966, ch 111, ch 16, § 29 (1).
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