31A-37a-302. Minimum capital and surplus.
(1) The commissioner may not issue a special purpose financial captive insurance
company a certificate of authority under this chapter unless it possesses unimpaired paid-in
capital and surplus of not less than $250,000 on the day on which the certificate of authority is
issued.
(2) A special purpose financial captive insurance company shall maintain unimpaired
paid-in capital and surplus of not less than $250,000 at all times when having a certificate of
authority under this chapter.
Enacted by Chapter 302, 2008 General Session
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Last revised: Thursday, May 28, 2009