26.1-09-07. Maximum indemnity on fire risk - Statement of maximum liability on single risk

26.1-09-07. Maximum indemnity on fire risk - Statement of maximum liability on single risk. A subscriber to a reciprocal or interinsurance contract may not assume on any single fire insurance risk an amount greater than ten percent of the net worth of the subscriber. Whenever required so to do by the commissioner, the attorney shall furnish to the commissioner a statement under oath of the attorney showing the maximum amount of indemnity carried upon any single fire insurance risk.