§ 31A-37a-302. Minimum capital and surplus.

Latest version.

(1)	The commissioner may not issue a special purpose financial captive insurance company a certificate of authority under this chapter unless it possesses unimpaired paid-in capital and surplus of not less than $250,000 on the day on which the certificate of authority is issued.

(2)	A special purpose financial captive insurance company shall maintain unimpaired paid-in capital and surplus of not less than $250,000 at all times when having a certificate of authority under this chapter.

Enacted by Chapter 302, 2008 General Session

                    
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