(b) Each member shall be liable to the corporation for that portion of the assessment which the net direct written premiums written by the member, namely the gross direct written premiums less return premiums on such direct business, for policies insuring against legal liability arising out of the ownership, operation or maintenance of motor vehicles which are principally garaged in this state, shall bear to the total or aggregate of such net direct premiums written by all members in this state in the last complete calendar year as shown by the records of the superintendent.
(c) In this section "member" also includes a former member which has withdrawn from the state or whose license has been revoked or which has been merged into another corporation or has been placed in liquidation, and such member or its successor shall be liable for all assessments under this section based upon premiums written by it in New York prior to the liquidation, withdrawal, revocation of license or merger.
(d) The assessment of self-insurers under sections three hundred sixteen and three hundred seventy of the vehicle and traffic law shall be based upon the amount determined by dividing the amount of the annual assessment on insurers by the number of insured vehicles for the year preceding the determination.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.