40-12a08. Liability of insureds; certain distributions precluded. No insured shall be liable for any amounts other than the annual premium. The business of the company shall be conducted so as to preclude any distribution of income, profit or property of the company to the individual members thereof except in payment of dividends, debts, claims or indemnities or upon the final dissolution of the company.

History: L. 1988, ch. 147, § 8; L. 1997, ch. 52, § 5; July 1.