58-5-22. Expendable surplus funds required of domestic mutual insurer.
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/sd/title-58/chapter-58-5/58-5-22A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In addition to surplus deposited and thereafter to be maintained as shown in columns
(g)and
(h)of the schedule in § 58-5-21 , the insurer when first authorized must have on hand surplus funds, which it can thereafter expend in the conduct of its business, in amount not less than fifty percent of the deposited and maintained surplus required of it under the said schedule.