83-21-13 - Revocation of license for deficiency in capital, surplus, or reserves.
§ 83-21-13. Revocation of license for deficiency in capital, surplus, or reserves.
Any company heretofore licensed shall have its financial status reviewed upon the filing of its annual statement, and in the event of a deficiency in either capital, surplus, or reserves, the license of the company and the certificate of authority of its agents to represent said company shall be immediately revoked.
Sources: Codes, 1942, § 5679.5; Laws, 1958, ch. 442, § 2.