Section 4-209 - Fund payments before beginning business.
§ 4-209. Fund payments before beginning business.
(a) Form and evidence of payment.- Payment to the initial guaranty fund shall be:
(1) Made in money; and
(2) Evidenced by transferable deferred payment certificates.
(b) Form of certificates.- The approval of the Commissioner is required as to:
(1) The form of the transferable deferred payment certificates;
(2) The rate of interest that the holder of a certificate will be entitled to receive; and
(3) The terms under which and the pro rata installments by which the holder of a certificate will be repaid.
[CA § 6-107; 1980, ch. 33, § 2; 1996, ch. 326, § 2.]