Section 83-31-31 - Reserves and unearned premiums

Such company shall maintain unearned premium and other reserves separately for each kind of insurance, upon the same basis as that required of domestic stock insurance companies transacting the same kind of insurance; provided, that any reserve for losses or claims based upon the premium income shall be computed upon the net premium after deducting any so-called dividend or premium returned or credited to the member.Codes, Hemingway's 1921 Supp. § 5209l; 1930, § 5283; 1942, § 5797; Laws, 1918, ch. 157.