Section 58-34-15 - Additional expendable surplus required of new insurer

58-34-15. Additional expendable surplus required of new insurer.In addition to surplus required to be maintained under §58-34-14, a domestic reciprocal insurer formed after June 30, 1966, shall have, when first authorized to transact insurance, expendable surplus equal to not less than one-half of the minimum amount of surplus required to be maintained. Source: SL 1966, ch 111, ch 19, §8 (3).