Assessment Liability definition
Assessment Liability means a liability of a Member to pay an amount to the Clearing House (including a contribution to the assets or capital of the Clearing House, or to any default or similar fund maintained by the Clearing House), but excluding:
Examples of Assessment Liability in a sentence
Coverage E does not apply to any of the following: Loss Assessment Liability for any loss assessment charged against you as a member of an association or community of property owners.