58-5-13. Deposit by incorporators of mutual insurer in lieu of bond--Amount.
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/sd/title-58/chapter-58-5/58-5-13A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In lieu of such bond, such incorporators may deposit with the director twenty - five thousand dollars or United States government bonds, negotiable and payable to the bearer, with a market value at all times of not less than twenty - five thousand dollars, to be held in trust upon the same conditions as required for such bond.