33-4-405. Safety fund. (1) Any domestic farm mutual insurer may create a safety fund, in addition to any surplus required under 33-4-401 or reserve otherwise required, for the purpose of paying insured losses or lawful expenses or obligations of the insurer as they are incurred.
     (2) The safety fund shall not exceed in amount 3% of the total amount of insurance in force in the insurer.
     (3) The safety fund shall not be used for any purpose except as specified in subsection (1) above.

     History: En. Sec. 504, Ch. 286, L. 1959; R.C.M. 1947, 40-4837.