Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharge of its indebtedness and policy obligations, the return of any contributions of the attorney or other persons to its surplus made as provided in ยง 23-70-112, and the return of any unused premium, savings, or credits then standing on subscribers' accounts, shall be distributed to its subscribers who were subscribers within the twelve (12) months prior to the last termination of its certificate of authority, according to such reasonable formula as the Insurance Commissioner may approve.
Section: Previous 23-70-111 23-70-112 23-70-113 23-70-114 23-70-115 23-70-116 23-70-117 23-70-118 23-70-119 23-70-120 23-70-121 23-70-122 23-70-123 23-70-124 NextLast modified: November 15, 2016