20-212. Funds required to transact additional
kinds of insurance
An insurer otherwise qualified may be authorized to transact combinations of kinds
of insurance, other than the life and disability combination shown in section 20-210,
while possessing and maintaining thereafter additional minimum required capital stock, if
a stock insurer, or additional minimum required basic surplus, if a mutual or reciprocal
insurer, not less in amount than that determined as follows: For any lawful combination
add two hundred thousand dollars for each additional kind of insurance included in the
combination to the amount required under section 20-210 for that one kind of insurance in
the combination for which the largest amount is required under said section 20- 210,
except:
1. Vehicle and disability insurances may be combined with casualty, and in any
combination including casualty, without funds in addition to those required because of
casualty.
2. With such additional minimum required capital stock or such additional minimum
required basic surplus in an amount of not less than five hundred thousand dollars, an
insurer, if otherwise qualified, may be authorized to transact all kinds of insurance
except life and title insurance. Any domestic stock insurer which on January 1, 1954,
was lawfully authorized to transact vehicle insurance, for physical damage only, or
casualty insurance, and while possessing paid-in capital of not less than two hundred
fifty thousand dollars, may be so authorized to transact all kinds of insurance other
than life and title insurances.
3. The amount of such capital or surplus shall not in any event be less than would
be required if the insurer proposed to transact in this state all those kinds of
insurance which it is transacting elsewhere.
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