A mortgage guaranty insurer shall not declare any dividends except from undivided profits remaining on hand over and above the aggregate of its paid-in capital, paid-in surplus and contingency reserve.
(Added by Stats. 1961, Ch. 719.)
Section 12640.06
Ins. Code § 12640.06, under Capital, Surplus and Contingency Reserve Requirements.
Ins. Code § 12640.06