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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 380

previous next Effective - 01 Jan 1985, see footnotebottom

  380.461.  Company may borrow to pay losses — assessment to pay loan. — The company may borrow money for the payment of accrued losses and expenses; but any sum necessary to pay the loan in full shall be included in the next assessment and the assessment shall be levied not later than twelve months after the incurring of the losses or expenses paid from the loan unless otherwise permitted by the director.

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(L. 1984 H.B. 1498)

Effective 1-01-85


---- end of effective   01 Jan 1985 ----

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