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Domestic Statutory Deposit
Domestic Statutory Deposit Requirements

The chart below indicates state-specific requirements and identifies those states that require proof of a Statutory Deposit. 

Last Updated: 02/13/2024
Updates to the information will be noted with a “ * ” next to the state name and edits will be italicized and bolded. 

State Statutory Deposit Requirement/Code Citation Cert. of Deposit Required? Yes or No 
AL

§27-3-11 Code of Alabama 1975, as amended: $100,000 for all lines.
§27-3-12 Code of Alabama 1975, as amended: $200,000 for Official Surety.
§27-3-13 Code of Alabama 1975, as amended: $50,000 for Title.

Yes
AK $300,000. Yes
AZ

Required for all lines, maximum $500,000. (A.R.S. §§ 20-213 and 20-581 et seq).
Prepaid Legal: $500,000 surety bond or deposit. (A.R.S. § 20-1097.03).
Title: Minimum $250,000, maximum $750,000 (A.R.S § 20-1563).

No
AR

Required for all lines Ark. Code Ann. 23-63-206.
Primary Application: Required for all lines.

No
CA Required for workers’ compensation (section 11691) title (section 12350) and for retaliatory purposes (section 685). Yes
CO

Life:                                                    $1,500,000
Fire (Property):                                   $1,500,000
Casualty:                                            $1,500,000
Multiple Line (Property & Casualty):  $2,000,000
Title:                                                      $750,000

Yes
CT None No
DE

General Deposit Requirement:
Domestic: The Commissioner shall not authorize a domestic insurer, other than a title insurer, to transact insurance unless it makes and thereafter continuously maintains on deposit in this State through the Commissioner cash or securities eligible therefor under § 1503 of this title of a fair market value of not less than $100,000 for the protection of all its policyholders wherever located, or all its policyholders in the United States, or all its policyholders and creditors. [18 Del. C. Section 513(f)].

Special Deposit Requirements: $100,000 (market value) Special Deposit required for Delaware policyholders only for insurers authorized to write Worker’s Compensation & Employers’ Liability. [18 Del. C. Section 513(c)].

$10,000 (market value) Special Deposit required for Delaware policyholders only for insurers authorized to write Surety. A waiver of the special deposit is permitted if the company has paid-in capital and surplus of $10,000,000 or more and continuously maintains on deposit in this State or another state cash or securities eligible for deposit of a fair market value of not less than $400,000 for the protection of all of its policyholders wherever located or all of its policyholders and creditors. [18 Del. C. Section 513(b)].

Yes
DC

Required for Life and Health companies in the amount of $100,000 (DC Code 31-4315).
Required for HMO companies in the amount of $300,000. DC Code 31-3412(3)(b).

Yes
FL Contact state for requirements.  
GA For Primary applications, statutory deposit laws are set forth in: O.C.G.A §33-3-8; O.C.G.A §33-3-9; O.C.G.A §34-9-129. Yes
HI Contact state for requirements.  
ID

§ 41-316A  a sum in the amount of one million dollars ($1,000,000), in trust for the protection of all its policyholders or all its policyholders and creditors.

Yes
IL Domestic Stock Insurance Companies are subject to 215 ILCS 5/26 regarding maintaining their minimum statutory deposit of $1,500,000 fair market value of appropriate securities in Illinois; Domestic Mutual Insurance Companies are subject to 215 ILCS 5/53 regarding maintaining their minumum statutory deposit of $1,500,000 fair market value of appropriate securities in Illinois.   No
IN

https://www.in.gov/idoi/files/2023.07.25-Schedule-of-Company-Fees.pdf

Must maintain deposit with state.  Required documents:
Joint Custodial Agreement
Form 22
Affidavit
https://www.in.gov/idoi/companyentity-financial-compliance/forms/

*IA

Property & Casualty: No deposit required.

Life & Health: No deposit required.

 
KS

Required for all lines for domestics. Also required for foreign companies unable to establish that they file such deposits with their state of domicile. Foreign companies that desire to use their home state deposit must provide a Certificate of Deposit that indicates the deposit is for the benefit of ALL policyholders or creditors, or both.
Note: Deposits are required at market value. Therefore, if the market value of the securities held on deposit is not reflected on the Certificate of Deposit issued by the home state then, in addition to submitting the Certificate of Deposit, the applicant insurance company should submit a letter or other documentation which reflects the market value of the securities on deposit (on or after the date of the Certificate of Deposit) and indicate how such value was determined (e.g., broker, investment manager, etc.).

Kansas General Deposit Requirements are as follows:
Stock Life: $400,000
Stock Fire: $450,000
Stock Casualty: $450,000
Stock Fire & Casualty: $900,000
Stock Mortgage Guaranty: $1,000,000
Mutual Life: $400,000
Mutual Fire: $450,000
Mutual Casualty: $450,000
Mutual Fire & Casualty: $900,000
Mutual Mortgage Guaranty: $1,000,000
Title: $450,000
Deposits are subject to retaliation. For example, if the domicile state would require a “special deposit” of a similar Kansas company, then the applicant would be required to establish the same deposit with the Kansas Insurance Department.

Yes
KY

Contact state for requirements.

 
LA

Act 159 of the 2021 Regular session of the Louisiana Legislature removed the requirements for most statutory deposits. Foreign and alien insurers are not required to have a deposit in Louisiana and are not required to have a minimum deposit in the domiciliary state. However, the Commissioner may, as a condition of the issuance or maintenance of a certificate of authority, require an insurer to make and maintain a deposit based upon the type, volume or nature of the insurance business transacted. If, in the course of our review of the application, a determination is made that such a deposit is required, the applicant will be contacted with the specifics of such a requirement. 

No
ME Contact state for requirements.  
MD $100,000 in cash or certain other government securities unless company meets requirements for foreign or alien insurers as set forth in Section 4-106 of the Insurance Article of the Annotated Code of Maryland. Commissioner will accept a like deposit held by another state for the benefit of all policyholders. Yes
MA

Contact state for requirements.

 
MI Required for all lines in the amount of $300,000 for the benefit of all policyholders (§500.411) and in acceptable securities as required in (§500.912). This amount could increase at the discretion of Director. No, since deposit would be placed in MI.
MN Contact state department for requirements at insurance.commerce@state.mn.us Yes
MS

Primary App:
Per MCA 83-19-31(2), “Any domestic company qualifying under the foregoing sections shall deposit with the State Treasurer fifty percent (50%) of its capital stock, either in cash or such bonds or securities in which such company is authorized by law to invest its funds.” Also per MCA 83-7-21, a company will be required to deposit up to $100,000 of Life Insurance reserves.

No
MO

Life: $600,000 Market Value
HMO: See section 354.410, RSMo
Single Line Casualty: $800,000 Market Value
Multi-Line Casualty: $1.2 Million Market Value
Title: $400,000 Market Value

Yes
MT

§33-2-111 Deposits required.
https://leg.mt.gov/bills/mca/title_0330/chapter_0020/part_0010/section_0110/0330-0020-0010-0110.html

33-2-603. Deficiency of deposit
https://leg.mt.gov/bills/mca/title_0330/chapter_0020/part_0060/section_0030/0330-0020-0060-0030.html and https://leg.mt.gov/bills/mca/title_0330/chapter_0020/part_0060/section_0110/0330-0020-0060-0110.html -- revocation of certificate. If for any reason the market value of assets and securities of an insurer held on deposit in this state or in another state under custodial arrangements authorized by 33-2-604(3) falls below the amount required under this code to be so held, the insurer shall promptly deposit other or additional assets or securities eligible for deposit under this part and in amount sufficient to cure such deficiency. If the insurer has failed to cure the deficiency within 20 days after receipt of notice thereof by registered or certified mail from the commissioner, the commissioner shall forthwith revoke the insurer's Certificate of Authority.

Yes
NE

$100,000, Neb Rev Stat 44-319.02.

Yes
NV

Contact state for requirements. 

 
NH "RSA 402:73 Deposits in Trust. – In all cases in which the laws of any other state of the United States require that the insurance companies incorporated by the laws of other states shall deposit with some officer of the state in which such insurance company is incorporated stocks or other securities in trust or for the benefit of policyholders of such companies, as a condition for doing business in such other states, the insurance commissioner shall receive from any insurance company incorporated under the laws of this state stocks or other securities, in such amount as may be required by the laws of such other state or states, on deposit in trust for the benefit of the policyholders of such company." Yes
NJ

Primary App: Minimum of $100,000 to a maximum of $250,000 is required for the majority of stock carriers.  N.J.S.A. 17:20-1c and d (property/casualty), 17B:18-37c and d (life/health), 17:46B-7b (title), 17:46A-8 (mortgage).
Surety writers must have $200,000.  N.J.S.A. 17:32-5.
Reciprocal Exchanges must have $100,000. N.J.S.A. 17:50-6.

Yes
NM

New Mexico has two deposit requirements, a Special Deposit (NMSA Section 59A-5-19) and a General Deposit (NMSA Section 59A-5-18). The Special Deposit is for the benefit of all its policyholders and creditors located in New Mexico and the General Deposit is for the benefit of all its policyholders and creditors wherever they may be located. The Special Deposit must be maintained with NM and will be required prior to issuance of a Certificate of Authority. The General Deposit can be maintained in NM or the company can provide a Certificate of Deposit certified by the state of domicile or any other state. Effective July 1, 2017, requirements changed.
59A-5-16. Capital funds, deposits, required for certificate of authority. (2016) 
A. To qualify for certificate of authority to transact any one kind or combination of kinds of insurance in this state, an insurer shall possess:
(1) if a stock insurer, paid-in capital stock and, when first so authorized, surplus all as shown in Schedule I of this section; or
(2) if a mutual, reciprocal or Lloyds insurer, basic capital surplus, including guaranty funds, if any, and additional unassigned surplus when first so authorized, as required under Schedule I of this section.
B. Except that an insurer that on January 1, 1985, having applied for a certificate on or before February 15, 1984, held a valid and subsisting certificate of authority to transact insurance in this state may, if a domestic insurer, continue to be so authorized until December 31, 1995, so long as otherwise qualified therefor and possessing paid-in capital stock, if a stock insurer, or basic capital surplus, if a mutual, reciprocal or Lloyds insurer, not less than that required of the insurer by the laws of this state in force on January 1, 1986; and if a foreign insurer, may so continue to be so authorized, if otherwise qualified therefor, while possessing such capital funds (paid-in capital stock and surplus if a stock insurer, and surplus if a mutual or reciprocal insurer) until December 31, 1990.  At the expiration of such period, as applicable, the insurer shall meet the basic capital requirements of this section as set forth in Schedule I of this section in order to maintain its certificate of authority. Upon a change in the control of either a domestic insurer or foreign insurer, the insurer shall, within one year from effective date of such change of control, meet the capital funds requirements of Schedule I of this section as though a newly authorized insurer, but this sentence shall not act to extend the otherwise applicable time period. For the purposes of this subsection, "control" shall have the meaning ascribed in Section 59A-37-2 NMSA 1978.
C. The capital funds required for authority to transact insurance in this state shall be based upon all the kinds of insurance the insurer transacts, wherever transacted or to be transacted.
D. This section shall not apply as to domestic Lloyds plan insurers as identified in Chapter 59A, Article 38 NMSA 1978 except as stated in that article.
E. The capital requirements of this section are set forth in the following schedule:

                                                                         Schedule I
                                                                       NEW MEXICO
                                           Minimum Capital, Surplus and Deposit Requirements 
Property/Casualty Insurer

Premium Volume:

 

Under $5
Million

$5 to $10 Million

$10 to $25
Million

Over $25
Million 

 

Number of Kinds of Insurance

 

 

 

1

2

 

 

 

Basic Capital

500,000

600,000

800,000

900,000

1,000,000 

Additional
Surplus

500,000

600,000

same as Under
$5 Million

same as Under
$5 Million

same as Under
$5 Million 

General Deposit

200,000

300,000

500,000

500,000

500,000 

Special Deposit

200,000

300,000

same as Under $5 Million

same as Under
$5 Million

same as Under
$5 Million 

Life/Health Insurer

Premium Volume:

Under $5 Million

$5 to $10 Million

$10 to $25 Million

Over $25 Million 

Basic Capital

 

600,000

700,000

800,000

900,000 

Additional Surplus

400,000

400,000

400,000

400,000 

General Deposit

 

200,000

200,000

200,000

200,000 

Special Deposit

 

200,000

200,000

200,000

200,000 

Premium Volume means the insurer's worldwide direct premiums earned (if Property/Casualty) or received (if Life/Health) during the previous calendar year.

Kinds of insurance pertains to the general kinds of insurance that property/casualty insurers are authorized to transact.

The following groups or single kinds of insurance shall be counted as one kind of insurance when calculating the amount of required Basic Capital, Additional Surplus, General Deposit and Special Deposit: 
Notes:

Casualty; Property; and Title.

When determining Basic Capital and Additional Surplus amounts, the kinds of Insurance shall be based on the insurer's actual or requested transaction authority Worldwide.

When determining General Deposit and Special Deposit amounts, the kinds of Insurance shall be based on the insurer's actual or requested transaction authority in New Mexico.

"Basic Capital" means paid-in capital stock (if a stock insurer) or basic capital surplus (if a mutual, reciprocal or Lloyds insurer).  General Deposit or Special Deposit funds are included within, and are not additional to, required Basic Capital and Additional Surplus.  General Deposit amounts shown above are not applicable to alien insurers.

History: Laws 1984, ch. 127, § 83; 1987, ch. 259, § 4; 1987, ch. 262, § 1; repealed and reenacted by Laws 2007, ch. 282, § 1; 2016, ch. 89, § 1.

Yes
NY

Property: Certificate of Deposit required. Deposits must be in accordance with Sections 1318, 1319, 1320 and 4104 of the N.Y. Ins. Law. Property & Casualty Companies seeking to reinsure lines in addition to those lines they can write directly; or to write or reinsure risks outside the United States, its territories and possessions are required to have Surplus to Policyholders of $35,000,000 and a deposit of at least $3,000,000.” It also would be more accurate to say at the bottom of that section for New York for all companies that “It should be noted that these are minimum requirements. A higher amount of surplus may be required based upon a review of the Company’s Plan of Operations and Financial Projections. Generally a deposit of at least $500,000 is required. 
Stock Property/Casualty Company Financial Requirements

Life: Certificate of Deposit required. $200,000 for life and/or annuities $200,000 additional if also licensed to do accident and health.(par, market and statement values) must be on deposit (qualifying securities with home state for protection of all policyholders. Sections 1318, 1319 and 4206 of the N.Y. Ins. Law.

Health: Certificate of Deposit required. Deposits must be in accordance with Sections 1318, 1319 and 4206 of the N.Y. Ins. Law.

Yes
NC

Contact state for requirements.

ND No deposit by foreign insurers required but a Certificate of Deposit with state of domicile must be submitted. N.D.C.C. 26.1-11-06 Yes
*OH

Domestic insurers

Life $100,000, ORC 3907.07
P&C with Fidelity or Surety/Financial Guaranty $200,000, ORC 3929.10
Title Guarantee & Trust $50,000, ORC 3953.06, plus unearned premium (maximum of $250,000), ORC 3953.11
The latest edition of deposit forms may be found on our website at www.insurance.ohio.gov under Forms.

Form Number/Description
INS2010 Insurer and Direct Participant/Member Bank Agreement
INS2011 Book Entry Legal Deposit
INS2072 Book Entry Deposit List
INS7150 Computation of Deposits - Domestic Title Co's
INS7151 Computation of Deposits - Domestic Title & Trust Co's
Deposits must be held for “all policyholders” and may not include other beneficiaries (e.g. –  “all policyholders and creditors” is unacceptable.).

If you have any questions concerning domestic deposits, please contact Melissa Chuvalas, Fiscal Officer at (614) 752-0720 or at Melissa.Chuvalas@insurance.ohio.gov.

Yes, if requesting new lines of authority that require deposit, otherwise not required.
OK

Contact state for requirements.

 
OR

Contact state for requirements.

 
PA Fidelity & Surety class: $100,000 per 40 P.S. §832 must be filed either in PA or domicile state. Yes, if deposit is in state of domicile
PR

L.P.R.A. § 315a of the Insurance Code of Puerto Rico -
(1) No domestic insurer shall be authorized to transact insurance in Puerto Rico unless it deposits and maintains on deposit assets of a value not less than fifty percent (50%) of the amount of the paid-in capital if a stock insurer or a cooperative insurer, or of the surplus funds if a mutual, reciprocal, or Lloyd’s plan insurer, as required to be maintained for such kind or kinds of insurance to be transacted in Puerto Rico, notwithstanding the provisions contained in § 304(2) of this title.
(2) The deposit, among other reasonable purposes for the protection of the insurers and creditors, shall be for the protection of the insurer’s policyholders or for all the policyholders and creditors in Puerto Rico.
(3) The deposit shall be made in trust with the Secretary of the Treasury of the Commonwealth of Puerto Rico, through the Office of the Commissioner.
(4) The deposit shall be administered as provided in §§ 801–809 of this title.

Yes
RI

Rhode Island General Law 27-1-7.

Yes
SC

Required for all lines. (SC 38-9-100, 38-9-80 and 38-15-30).

Yes
SD

Minimum of $200,000 or more held in trust in a financial institution for the protection of all policyholders.
Title: $100,000.
Retaliatory basis (SDCL 58-6-70).

Yes
TN

Property and Casualty: Per kind(s) of business authorized: $100,000 Property; $100,000 Casualty; $200,000 Surety; Market Value, TCA 56-2-104
Life: $200,000 market value, TCA 56-2-104
Title: $100,000, TCA 56-35-112
These securities must consist of bonds of either the U.S. or any agency or instrumentality of the U.S.:
1. Bonds of the State of Tennessee
2. Bonds of the state of domicile
3. Bonds publicly issued by any solvent institution created or existing under the laws of the United States of America or any other state

Yes
TX

Property & Casualty: No deposit required.
Life & Health: No deposit required.

No
UT

For Foreign companies, the amount specified in §31A-5-211.
All companies have a Certificate of Deposit requirement.

Yes
VT Yes 8 V.S.A. §3304. Yes
VA Deposit required to be held in Virginia for Life & Health, Property & Casualty and Title companies, for the benefit of Virginia policyholders and creditors (creditors claims are subordinate to policyholder claims), pursuant to §§38.2-1045 and 38.2-1046 of the Code of Virginia. Generally, the deposit requirement ranges from $200,000 to $500,000. Actual amount determined by the Bureau during the review process. N/A
WA

Property & Casualty: No deposit required.
Life & Health: No deposit required.

 
WV

Primary App: Required for all lines in the amount of $100,000.
Corporate Amendments Apps: Required for all lines in the amount of $100,000, subject to retaliation. Foreign licensed insurers may file Certificate of Deposit from supervisory official of any other state.
(W. Va. Code § 33-3-6).

Yes, if provided by the Domiciliary State
WI Not Required.  
WY W.S. 26-3-111. Domestic insurers shall maintain a deposit in a trust in Wyoming. Yes