Sec 20-1542. Capital and surplus  


Latest version.
  • A. A mortgage guaranty insurance company shall not transact the business of mortgage guaranty insurance unless:

    1. If a stock insurance company, it has paid in capital of at least one million dollars and paid in surplus of at least one million dollars.

    2. If a mutual insurance company, it has a minimum initial surplus of two million dollars.

    B. A stock company or a mutual company shall at all times thereafter maintain a minimum policyholders' surplus of at least one million five hundred thousand dollars.