41-3113 EXPENSES.
INSURANCE
CHAPTER 31
COUNTY MUTUAL INSURERS
41-3113. Expenses. (1) The operating expenses of the insurer shall be reasonable in amount in relation to the volume of business transacted and insurance losses incurred.
(2) The insurer’s by-laws shall contain reasonable limitations of all such expenses, and such provisions and all modifications thereof shall be subject to the director’s approval.