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At the outset, the initial working capital of every association organized under this chapter shall not be less than five thousand dollars ($5,000). For a period of not less than six (6) months, to be computed from the beginning of operations, the association shall not dispose of any amount of its unaccrued income; Provided, That all income received during said period of six (6) months shall be entirely available for the payment of benefits to its subscribers. The administration and acquisition costs shall be paid only from the working capital and from the accrued income, in accordance with subsection (f) of § 46 of this title. The entities heretofore or hereafter organized under this chapter shall establish those reserves for contingencies and incidentals that the Commissioner of Insurance may have promulgated or may hereafter promulgate through regulations. History —May 9, 1942, No. 152, p. 828, § 10; June 15, 1961, No. 66, p. 127, § 1.