§ 8-413. Minimum capital

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(a) Amount required on application. -- Each society that applies on or after July 1, 1968, for an initial certificate of authority under this subtitle must have working capital of at least $ 125,000.

(b) Amount required to be maintained. -- After issuance of its initial certificate of authority, a society described in subsection (a) of this section shall maintain unencumbered assets that exceed all liabilities by $ 100,000.

HISTORY: CA § 6-405; 1995, ch. 36.

                    
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