20-768
|
20-768. Required surplus funds A. A domestic reciprocal insurer formed under this article, if it has otherwise complied with the provisions of this title, may be authorized to transact insurance if it deposits and maintains on deposit with the state treasurer through the office of the director to transact property or vehicle insurance, surplus funds of not less than six hundred thousand dollars. B. A domestic reciprocal insurer may be authorized to transact additional kinds of insurance if it has otherwise complied with the provisions of this title and possesses and so maintains on deposit surplus funds in amount equal to the minimum capital required of a stock insurer for authority to transact a like combination of kinds of insurance. |