this is an outdated text: switch to the updated & improved dc code website
home, about

The DC Code: § 31-2502.13 Minimum capital and surplus requirements.

Index31 Insurance and Securities. (Refs & Annos)

Every stock company authorized to do business in the District shall have and shall at all times maintain a paid-up capital stock of not less than $300,000, and a surplus of not less than $300,000. Every domestic mutual company and every domestic reciprocal company shall have and shall at all times maintain a surplus of not less than $300,000 and every foreign or alien mutual company and every foreign or alien reciprocal company shall have and shall at all times maintain a surplus of not less than $400,000.

Historical and Statutory

Prior Codifications 1981 Ed., § 35-1516. 1973 Ed., § 35-1316. DC CODE § 31-2502.13 Current through December 11, 2012

Credits

(Oct. 9, 1940, 54 Stat. 1070, ch. 792, ch. II, § 13; Apr. 16, 1966, 80 Stat. 121, Pub. L. 89-399, § 1(b); Aug. 14, 1973, 87 Stat. 304, Pub. L. 93-89, title IV, § 401.)