613.19 Financial and contractual resources.
97 words·~1 min read·
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613.19 Financial and contractual resources.
(1)Minimum permanent surplus. The commissioner may by rule establish the minimum permanent surplus for a corporation organized under this chapter. In the absence of such a rule, the minimum permanent surplus shall be $2,000,000 or such greater amount as the commissioner specifies by order.
(2)Initial expendable surplus. A corporation organized under this chapter shall have an initial expendable surplus, after payment of all organizational expenses, of at least 50 percent of the minimum permanent surplus specified under sub.
(1), or such other percentage as the commissioner specifies by order.