20-1722. Deposit; surplus requirements
A. Until October 1, 1985, the provisions of subsection A of section 20-260 shall
not apply to primary coverage issued by health care insurers established pursuant to this
article.
B. A health care insurance company established pursuant to the provisions of this
article shall maintain three hundred thousand dollars as a statutory deposit pursuant to
section 20-213 and such deposit shall be held by the state treasurer in accordance with
the provisions of chapter 3, article 3 of this title.
C. In addition to the statutory deposit required in subsection B, a health care
insurance company shall maintain additional surplus funds in the following amounts:
1. Seven hundred thousand dollars throughout the first year of operation,
2. One million seven hundred thousand dollars throughout the second year of
operation, and
3. Two million seven hundred thousand dollars throughout the third year of
operation and each subsequent year of operation.
D. The director shall not issue a certificate of authority to an insurer
established pursuant to this article until the deposit requirement specified in
subsection B and the surplus requirement specified in subsection C for the first year of
operation are satisfied.
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