Deficiency of self - insurance associations made up by members

If the assets of an association are at any time insufficient to enable the association to discharge its liabilities and obligations, the association's members shall make up the deficiency or the department may order the association to levy an assessment upon its members in an amount necessary to make up the deficiency. Source: SL 1995, ch 282 , § 13. 58-20-38 . Revocation of self - insurance association's certificate. If an association fails to make up a deficiency or to make the required assessment of its members pursuant to § 58-20-37 within thirty days after the department orders it to do so, or if the deficiency is not fully made up within sixty days after the date on which the assessment is made, or within a longer period of time as may be specified by the department, the department shall revoke the association's certificate. Source: SL 1995, ch 282 , § 14.