A deficit sustained by the association in a year must be recouped, pursuant to the plan of operation and the rating plan then in effect, by one or both of the following procedures:

1. (1) an assessment upon the policyholders, which may not exceed one additional annual premium at the then current rate;
2. (2) a rate increase applicable prospectively.

HISTORY: 1989 Act No. 189, Part II, Section 43 sub 25; 1993 Act No. 181, Section 845.