44-3106. Certificate of authority; issued, when; minimum surplus.

No professional association mutual insurance company shall be issued a certificate of authority to do any business in this state until it has filed with the director acceptable evidence that it has and will maintain a minimum surplus aggregating at least five hundred thousand dollars in cash in the investments authorized under the Insurers Investment Act or a letter of credit issued by a Nebraska banking institution in accordance with loan restrictions prescribed by the laws of this state.

Source:Laws 1978, LB 656, § 6; Laws 1991, LB 237, § 68.

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