§ 5-705. Deficiency of deposit

Latest version.

   An insurer shall deposit promptly additional cash or other or additional government securities eligible for deposit under § 5-701(b) of this subtitle in an amount sufficient to cure any deficiency if:

   (1) the cash or government securities deposited by the insurer and held on deposit under this subtitle become ineligible for deposit under § 5-701(b) of this subtitle; or

   (2) the market value of the deposited cash and government securities falls below the amount required under this article.

HISTORY: An. Code 1957, art. 48A, § 115; 1995, ch. 36.

                    
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