Case Notes
Mentioned: 74 H. 85, 839 P.2d 10.
§431:20-110.5 Dividends. A title insurer shall not pay any dividends except from profits remaining on hand after retaining unimpaired assets aggregating in value an amount equal to the sum of the following:
(1) The aggregate par value of the shares of its capital stock, issued and outstanding, including treasury shares;
(2) The amount set apart as the title insurance reinsurance reserve; and
(3) A sum sufficient to pay all liabilities for expenses and taxes, all losses reported or in course of settlement, and all other indebtedness, without impairment of the amount required to be set apart as the title insurance reinsurance reserve. [L 1989, c 195, §8]
Section: Previous 431-20-105 431-20-106 431-20-106.5 431-20-107 431-20-108 431-20-109 431-20-110 431-20-110.5 431-20-111 431-20-112 431-20-113 431-20-114 431-20-115 431-20-116 431-20-117 NextLast modified: October 27, 2016