PART III. DEPOSITS

 

§431:7-301  Deposits of insurers.  (a) The director of finance shall accept, when made through the commissioner,deposits of securities or funds by insurers as follows:

(1)  Deposits in amount as required to be made asprerequisite to a certificate of authority to transact insurance in this State.

(2)  Deposits of insurers in amount as required to bemade by the laws of other states as prerequisites for authority to transactinsurance in such other states.

(3)  Deposits in other additional amounts permitted tobe made by this part.

(b)  This part shall apply to the depositslisted in this section unless expressly inconsistent with the provisions ofarticle 3 of this code, in which case the provisions of article 3 shallprevail. [L 1987, c 347, pt of §2; am L 1989, c 207, §5]