§ 4202. Capital and surplus requirements of life insurance companies.

(a) (1) A stock company may be organized as prescribed in section one thousand two hundred one and subsection (e) of section one thousand one hundred two of this chapter and licensed to do the business of life insurance as specified in paragraph one of subsection (a) of section one thousand one hundred thirteen of this chapter with a paid-in capital of at least two million dollars and a paid-in initial surplus at least equal to the greater of four million dollars or two hundred percent of its capital, and it may in addition do any one or more of the kinds of insurance business specified in paragraphs two, three, twenty-nine and thirty-one of subsection (a) of section one thousand one hundred thirteen of this chapter, without having additional capital or surplus.
(2) Every such company shall at all times maintain a minimum capital of two million dollars,