Section 27-3-9 Minimum capital and surplus for new domestic stock life insurance company.
Section 27-3-9
Minimum capital and surplus for new domestic stock life insurance company.
The minimum capital required to form and organize a new domestic stock life insurance company shall be $1,000,000.00, and in addition thereto the minimum surplus to form such a company shall be $1,000,000.00.
(Acts 1973, No. 643, p. 953.)