Minimum capital

  1. Law
  2. Maryland Code
  3. Insurance
  4. Entities That Act as Insurers
  5. Fraternal Benefit Societies
  6. Formation, Organization, and Authority to Do Business
  7. Minimum capital

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    (a)    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)    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.


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