R590-235-5. Minimum Capital and Surplus Requirements

(1) The minimum capital or permanent surplus requirement is:

(a) $400,000 for indemnity insurers, whether domestic or foreign;

(b) $100,000 for an HMO; and

(c) for an LHP:

(i) may not be less than $10,000 or exceed $100,000.

(ii) the actual amount is to be set by the commissioner after a hearing and consideration of various factors.

(2) Risk-Based Capital (RBC) requirements, as outlined in Section 31A-17-602, are applicable regardless of the license type.