The board may abate or defer, in whole or in part, the assessment of a member if, in the opinion of the board, payment of the assessment would endanger the ability of the member to fulfill its contractual obligations. In the event an assessment against a member is abated or deferred in whole or in part, the amount by which such assessment is abated or deferred may be assessed against the other members in a manner consistent with the basis for assessment set forth in subsections 1, 2, and 3 of section 376.973. The member receiving such abatement or deferment shall remain liable to the pool for the deficiency for four years.
Mo. Rev. Stat. § 376.984
Abatement or deferring all or part of assessment of member, when — amount..
Known as the Standard Valuation Law
The act spans §§ 376–376 (408 sections).
Effective: 01 Jan 1991, see footnote; (L. 1990 H.B. 998 § 5 subsec. 6)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.