56-16-208 - Assessments Time limit for paying. - Tennessee Statutes

56-16-208. Assessments Time limit for paying.

Every subscriber of a domestic reciprocal having contingent assessment liability shall be liable for and shall pay the subscriber's share of any assessment computed in accordance with § 56-16-207 if, while the policy is in force or within one (1) year after its termination, the subscriber is notified:

     (1)  By the attorney of the attorney's intention to levy the assessment; or

     (2)  That delinquency proceedings have been commenced against the reciprocal under chapter 9 of this title, and the department or receiver intends to levy an assessment.

[Acts 1990, ch. 728, § 2; T.C.A. § 56-16-308.]