20-214. Financial requirements; escalator provisions
If with respect to an insurer lawfully authorized to transact insurance in this state immediately prior to the effective date of this section, this title requires a greater amount of capital, surplus or deposit than required of such insurer immediately prior to such effective date, such insurer shall have a period of one year from and after such effective date within which to comply with any such increased requirement. No such increase shall be required of any domestic stock insurer which as of such effective date, was lawfully authorized to transact in this state only automobile physical damage insurance, and for so long as such insurer does not transact any additional insurance.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
