Section 8-413 - Minimum capital.
§ 8-413. Minimum capital.
(a) Amount required on application.- Each society that applies on or after July 1, 1968, for an initial certificate of authority under this subtitle must have working capital of at least $125,000.
(b) Amount required to be maintained.- After issuance of its initial certificate of authority, a society described in subsection (a) of this section shall maintain unencumbered assets that exceed all liabilities by $100,000.
[CA § 6-405; 1995, ch. 36.]