354.075. Capital required to do business. — No corporation subject to the provisions of sections 354.010 to 354.380 shall be permitted to do business in this state unless it shall have a paid-in capital or guaranty fund of not less than one hundred and fifty thousand dollars, in addition to the reserves required in sections 354.010 to 354.380. The surplus and guaranty fund shall be placed and held on joint deposit with the director for the protection of all subscribers, members and beneficiaries.
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(L. 1973 S.B. 3 § 14, A.L. 1983 H.B. 127)
---- end of effective 28 Aug 1983 ----
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