44-218. Mutual company; limitation of liability.

The liability of a member of a mutual company shall be limited to the premiums stated in the policy.

Source:Laws 1913, c. 154, § 79, p. 428; R.S.1913, § 3216; Laws 1919, c. 190, tit. V, art. V, § 2, p. 608; C.S.1922, § 7815; Laws 1925, c. 124, § 2, p. 328; C.S.1929, § 44-402; Laws 1931, c. 89, § 1, p. 251; C.S.Supp.,1941, § 44-402; R.S.1943, § 44-218; Laws 1957, c. 189, § 1, p. 662; Laws 1989, LB 92, § 64.

Annotations

Assessments conformed to statute and could be recovered by company in action against policyholder. Nebraska Mutual Ins. Co. v. Borden, 132 Neb. 656, 272 N.W. 767 (1937).

Assessment in excess of limitation herein prescribed is at least partially invalid, and failure to pay same is no defense to action on policy. Hobza v. State Farmers Ins. Co., 125 Neb. 776, 252 N.W. 214 (1934).