TITLE 41

INSURANCE

CHAPTER 3

AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS

41-331.  Impaired insurers — Liability of officers. The president and each director of a stock insurer who, after knowing that the insurer’s capital is impaired, permits or assents in the writing of new business by the insurer in this state during the existence of such impairment, shall, together with their respective estates, be severally and jointly liable for the amount of any loss or losses which may be incurred by the insured under any such new insurance.

History:

[41-331, added 1961, ch. 330, sec. 94, p. 645.]