The maximum premium shall be expressed in the policy of a mutual company, and it may be solely a cash premium, or may be a cash premium and an additional contingent premium, which contingent premium shall be not less than the cash premium, but no mutual company, except as otherwise provided in § 31-2502.14, shall issue any policy for a cash premium without an additional contingent premium until and unless it possesses a surplus of not less than $600,000.
D.C. Code § 31-2502.25
Premiums of mutual companies
Known as the Fire and Casualty Act
The act spans §§ 31–31 (53 sections).
Oct. 9, 1940, 54 Stat. 1076, ch. 792, ch
Official source: D.C. Law Library (Council of the District of Columbia). Reproduced from public-domain District of Columbia statutes; confirm against the official source for the current text. Not legal advice.