Before a certificate of authority is issued, the capital of the association shall be paid into the association and, in the case of stock, shall be the sum of the par or initially stated value of all shares of capital stock, plus the initial paid-in surplus. The minimum required capital shall be established by regulations, or instructions, issued by the commissioner.
(Amended by Stats. 1984, Ch. 287, Sec. 3.5. Effective July 6, 1984.)
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