Sec. 21.75.055. Surplus funds for cooperative insurers.
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Sec. 21.75.055. Surplus funds for cooperative insurers.
A cooperative insurer organized under AS 21.75.300 — 21.75.330, if it has otherwise complied with the applicable provisions of this chapter, may be authorized to transact insurance if it has and maintains surplus funds equal to one-half of the capital required for a domestic reciprocal insurer under AS 21.75.050
(a)and such additional surplus as the director considers sufficient.