17:48A-14 - Investments;Ā surplus
17:48A-14.Ā Investments;Ā surplus
The funds of any medical service corporation may be invested only in accordance with the requirements now or hereafter provided by law for the investment of funds of life insurance companies.Ā Every medical service corporation after the first full calendar year of doing business after the effective date of this chapter, shall accumulate and maintain a special contingent surplus over and above its reserves and liabilities at the rate of two per centum (2%) annually of its net premium income until such surplus shallĀ be not less than one hundred thousand dollars ($100,000.00) except that no suchĀ corporation shall be required to maintain a special contingent surplusĀ exceeding fifty-five per centum (55%) of its average annual premium income forĀ the previous five years.
L.1940, c. 74, p. 193, s. 14.
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The funds of any medical service corporation may be invested only in accordance with the requirements now or hereafter provided by law for the investment of funds of life insurance companies.Ā Every medical service corporation after the first full calendar year of doing business after the effective date of this chapter, shall accumulate and maintain a special contingent surplus over and above its reserves and liabilities at the rate of two per centum (2%) annually of its net premium income until such surplus shallĀ be not less than one hundred thousand dollars ($100,000.00) except that no suchĀ corporation shall be required to maintain a special contingent surplusĀ exceeding fifty-five per centum (55%) of its average annual premium income forĀ the previous five years.
L.1940, c. 74, p. 193, s. 14.
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