40-3503. Capital and surplus requirements. - Kansas Statutes

40-3503

Chapter 40.--INSURANCE Article 35.--MORTGAGE GUARANTY INSURANCE COMPANIES

      40-3503.   Capital and surplus requirements.A mortgage guaranty insurance company shall not transact the business ofmortgage guaranty insurance unless, if said company is a stock insurancecompany, it has paid-in capital of at least one million dollars ($1,000,000)and surplus of at least one million dollars ($1,000,000),or if said company is a mutual insurance company, it has a minimum surplusof two million dollars ($2,000,000).

      History:   L. 1977, ch. 154, § 3; Jan. 1, 1978.