58-34-15. Additional expendable surplus required of new insurer.
49 words·~1 min read·
/sd/title-58/chapter-58-34/58-34-15·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In addition to surplus required to be maintained under § 58-34-14 , a domestic reciprocal insurer formed after June 30, 1966, shall have, when first authorized to transact insurance, expendable surplus equal to not less than one - half of the minimum amount of surplus required to be maintained.