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40-302. Minimum capital; par value of stock. Every insurance company organized under the provisions of this article shall have a minimum capital as provided by the articles of this code relative to the particular purpose or purposes for which such company is organized, and the shares of capital stock shall have a par value which shall be fixed by the articles of incorporation.

History: L. 1927, ch. 231, 40-302; June 1.

Source or Prior Law:

L. 1919, ch. 213, ยง 1; R.S. 1923, 40-203.


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