376.984. Abatement or deferring all or part of assessment of member, when--amount abated or deferred may be assessed against other members--deficiency liability. - Missouri Statutes

Abatement or deferring all or part of assessment of member,when--amount abated or deferred may be assessed against othermembers--deficiency liability.

376.984. The board may abate or defer, in whole or inpart, the assessment of a member if, in the opinion of the board,payment of the assessment would endanger the ability of themember to fulfill its contractual obligations. In the event anassessment against a member is abated or deferred in whole or inpart, the amount by which such assessment is abated or deferredmay be assessed against the other members in a manner consistentwith the basis for assessment set forth in subsections 1, 2, and3 of section 376.973. The member receiving such abatement ordeferment shall remain liable to the pool for the deficiency forfour years.

(L. 1990 H.B. 998 § 5 subsec. 6)

Effective 1-1-91