To qualify for authority to transact insurance in this state, a reciprocal insurer shall possess and thereafter maintain a surplus of not less than $2.5 million, and any reciprocal insurer that exchanges policies of insurance covering workers’ compensation insurance shall possess and thereafter maintain a surplus of not less than $5 million. [1967 c.359 § 109; 1975 c.274 § 1; 1977 c.651 § 2; 1987 c.483 § 3; 1993 c.709 § 3; 2001 c.318 § 3]

Ask an insurance law question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

[1993 c.709 § 2; repealed by 2001 c.318 § 4]