Title 33, Chapter 14, Section 74
( 33-14-74)
Any director of a domestic mutual insurer who willfully and with
knowledge votes for or concurs in a declaration or payment of a
dividend which reduces surplus below the minimum required surplus
shall be guilty of a misdemeanor and shall be jointly and severally
liable, together with other such directors likewise voting for or
concurring in willfully and with knowledge, for any loss thereby
sustained by the insurer. |