§36-3005. Assets required as condition precedent.
63 words·~1 min read·
/ok/title-36-insurance/36-3005·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No attorney shall be licensed for the underwriters at a Lloyd's under this Code unless the net assets, including the guaranty fund contributed to the attorney, a committee of underwriters, trustees, or other officers as provided for in the articles of agreement, shall be at least Two Hundred Thousand Dollars ($200,000.00) in cash, or other admitted assets. Laws 1957, p. 361, § 3005.