20-1087. Deposits
A. The director shall not issue a certificate of authority to any life and disability reinsurer unless the reinsurer has deposited in trust with the state treasurer through the director's office cash or securities eligible for the investment of capital funds of domestic insurers under this title in an amount not less than the minimum paid-in capital stock required pursuant to this article to be maintained for authority to transact the kinds of insurance to be transacted.
B. This section does not apply to unaffiliated credit life and disability reinsurers that deliver to the director a letter of credit pursuant to section 20-1085, subsection B.
Section: Previous 20-1079 20-1081 20-1082 20-1083 20-1084 20-1085 20-1086 20-1087 20-1088 20-1089 20-1090 20-1091 20-1092 20-1093 20-1094 NextLast modified: October 13, 2016