No domestic mutual company shall transact any business until at least 200 persons shall have subscribed in the aggregate for at least $200,000 of insurance and shall have paid in full 1 annual premium in money upon the insurance so subscribed.
(June 19, 1934, 48 Stat. 1148, ch. 672, ch. III, § 17.)
1981 Ed., § 35-617.
1973 Ed., § 35-517.
Prohibition against assessment companies, see § 31-4331.
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