LEG00236

• Bill Number: SB83-15
• Year: 1983
• Title: Concerning Reservoirs and Relating to the Inspection and Regulation Thereof and the Provision of Liability Insurance Therefor and Making an Appropriation Therefor
• Legislation - Doc Type: Other CWCB Related Bills - Killed

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1

the context otherwise requires:

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(1) "Association" means the

underwriting

joint

3 association created pursuant to this part 11.

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(2) "Board" means the board of di rectors of the

5 association.

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(3) "Net direct premiums" means gross direct premiums
written on all kinds of direct insurance, including accident
and sickness insurance, except life, title, surety, credit,

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mortgage guaranty, and ocean marine insurance, less return

premiums thereon and dividends paid or credited to
policyholders on such direct business.

(4) "Reservoir liability insurance" means insurance
coverage for a reservoir owner's legal liability concerning
damages arising from the leakage or overflow of the waters of

the reservoir or floods caused by the breaking of the

embankments of such reservoir.

10-4-1103. Joint underwriting association when

operations commenced - coverage - powers.

(1) A nonprofit

joint underwriting association is hereby created, consisting

of all insurers who are subject to the premium tax provided

21 for in section 10-3-20'3 and who are authorized to write and

22 who are engaged in writing, at any time during the existence

23 of the association, all kinds of direct insurance in this

24 state, including accident and sickness insurance, except life,

25 title, surety, credit, mortgage guaranty, and ocean marine

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insurance.

Every such insurer shall participate in the

-15-

15.

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