Stoddard v. Manzella

Staley, J„

The contention that the assessment is invalid and illegal as to this defendant is untenable. The company was organized to do business on March 2,1921. The defendant became a, member and a policyholder on May 1, 1921. In September, 1922, the company levied an assessment for the losses and expenses sustained and incurred by the company for the period ending December 31, 1921. This assessment was prorated among the policyholders during that period in proportion to the premium earned on each policy for the term ending December 31, 1921, and the amount of total losses and expenses.

Each…