No domestic insurer shall reduce its combined capital and surplus by partial distribution of its assets, by payment in the form of a dividend to stockholders or otherwise, below:
(1) Its required capitalization; or
(2) A greater amount which the Director of the Department of Consumer and Business Services, by rule or by order after hearing upon the motion of the director or the petition of any interested person, finds necessary to avoid injury or prejudice to the interest of policyholders or creditors. [1967 c.359 §168]
Section: Previous 732.160 732.165 732.175 732.205 732.210 732.215 732.220 732.225 732.230 732.235 732.240 732.245 732.250 732.305 732.310 NextLast modified: August 7, 2008