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