Connecticut General Statutes 31-336 – Assessments
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If an association is not possessed of funds sufficient for the payment of incurred losses and expenses, it shall make an assessment for the amount needed to pay such losses and expenses upon the members liable to assessment therefor, in proportion to their several liabilities.
Terms Used In Connecticut General Statutes 31-336
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.