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).