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2016 Statute



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40-3503.Capital and surplus requirements. A mortgage guaranty insurance company shall not transact the business of mortgage guaranty insurance unless, if said company is a stock insurance company, it has paid-in capital of at least one million dollars ($1,000,000) and surplus of at least one million dollars ($1,000,000), or if said company is a mutual insurance company, it has a minimum surplus of two million dollars ($2,000,000).

History: L. 1977, ch. 154, § 3; Jan. 1, 1978.



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2017. Powered by KLISS. Rendered: 2017-12-08T01:57:24. Head Rev No: 340954