§ 27-17-13 - Certificate of deposit by foreign exchange or interinsurer.
SECTION 27-17-13
§ 27-17-13 Certificate of deposit byforeign exchange or interinsurer. – A foreign reciprocal exchange or interinsurer shall, before being authorized todo business in this state, furnish to the commissioner a certificate issued bya state treasurer or other state financial officer of the state where itsprincipal place of business is located, that there has been deposited with himor her either in cash or securities the sum of one hundred thousand dollars($100,000) for the benefit of all policyholders.