An insurer shall not transact the business of mortgage guaranty insurance unless it has paid-in capital of at least one million dollars ($1,000,000) and paid-in surplus of at least one million dollars ($1,000,000).
(Added by Stats. 1961, Ch. 719.)
Section 12640.03
Ins. Code § 12640.03, under Capital, Surplus and Contingency Reserve Requirements.
Ins. Code § 12640.03