The advance premiums shall be set with regard to all circumstances which are considered relevant to the assessment of each risk.
If the total premiums and other income of the Club are found to be in excess of that required to cover the claims and costs of the calendar year, the Club may decide that the surplus, wholly or in part, shall be repaid to the members in the calendar year in question by way of a pro rata discount to be stipulated in proportion to the net advance premiums for that calendar year.
It is not permissible to declare higher return premium than proposed or accepted by the Board of Directors.
Repayment to Joint Members is to be sent to the member named first in the insurance agreement.
Claim for contribution against the members may only be enforced by the Club.
Any deficit may be assessed between the members in the calendar year in question by calling a contribution to be levied pro rata in proportion to the net advance premium of that calendar year. The contribution shall be limited to one time the net advance premium.
Joint Members have joint and several liability for payment of contribution.
Contribution falls due on the time set by the Club.
Each calender year shall be kept open for payment of return premium or levying of contribu¬tions until the General Meeting, on the Board of Directors’ recommendations, decides to close the calendar year.
After the calender year has been closed, no further contributions can be called and no return premium can be paid.
Upon termination of membership in the Club, members are not entitled to any part of the equity of the Club.
Upon dissolution of the Club, any surplus of the Club shall be distributed to those who were members of the Club at the time of dissolu¬tion, in proportion to paid-in premium over the last 10 years of operation.