Each member of any company operating under the provisions of sections 380.201 to 380.591 shall be liable in accordance with the terms of his insurance contract or policy for his pro rata share of the amount necessary to pay all losses and expenses incurred during the time for which his respective policy is in force, and to create and maintain such guaranty fund as may be deemed necessary by the directors of such company. A company may in its articles of incorporation or bylaws provide for the suspension of its liability for loss under any policy while an assessment payment is delinquent and the payment of such assessment shall reinstate such policy only from the date of the receipt of such payment but no deduction or credit shall be made in any assessment because of such suspension.