Deposit by incorporators of mutual insurer in lieu of bond--Amount

In lieu of such bond, such incorporators may deposit with the director twenty - five thousand dollars or United States government bonds, negotiable and payable to the bearer, with a market value at all times of not less than twenty - five thousand dollars, to be held in trust upon the same conditions as required for such bond. Source: SL 1966, ch 111 , ch 16, § 10 (2).