The attorney-in-fact or other parties may advance to a domestic reciprocal insurer upon reasonable terms the funds it may require from time to time in its operations. Sums advanced may not be treated as a liability of the insurer, and, except upon liquidation of the insurer, may not be withdrawn or repaid except out of the insurer's realized earned surplus in excess of its minimum required surplus. A withdrawal or repayment may not be made without the advance approval of the director. This section does not apply to bank loans or to loans for which security is given.
Section: Previous 21.75.090 21.75.100 21.75.110 21.75.115 21.75.120 21.75.130 21.75.135 21.75.140 21.75.150 21.75.160 21.75.170 21.75.180 21.75.190 21.75.200 21.75.210 NextLast modified: November 15, 2016