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§ 20-1542 Capital and surplus

AZ Rev Stat § 20-1542 (2019) (N/A)
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20-1542. Capital and surplus

A. A mortgage guaranty insurance company shall not transact the business of mortgage guaranty insurance unless:

1. If a stock insurance company, it has paid in capital of at least one million dollars and paid in surplus of at least one million dollars.

2. If a mutual insurance company, it has a minimum initial surplus of two million dollars.

B. A stock company or a mutual company shall at all times thereafter maintain a minimum policyholders' surplus of at least one million five hundred thousand dollars.

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