(2) A mutual property/casualty insurance company whose membership is limited to hospitals may be organized in the manner prescribed in subsection (a) of section one thousand two hundred one of this chapter and may be licensed pursuant to subsection (e) of section one thousand one hundred two of this chapter to write the kinds of insurance specified in paragraph thirteen or fourteen of subsection (a) of section one thousand one hundred thirteen of this chapter provided (i) it shall have applications from at least forty members on at least forty separate risks, (ii) the total annual premium cost shall be at least seven hundred fifty thousand dollars, (iii) it shall have an initial surplus of at least five hundred thousand dollars and shall maintain a surplus of at least four hundred thousand dollars and (iv) it shall receive from its members advances pursuant to the requirements of section one thousand three hundred seven of this chapter averaging not less than one-third of the average annual indicated premium, but the total thereof shall not be less than the initial minimum surplus.

(b) If licensed to write any kind of insurance specified in TABLE TWO, a mutual property/casualty insurance company may in addition write any one or more of the kinds of insurance specified in Group A and/or Group B of TABLE THREE, and if licensed to write any kind of insurance specified in Group A, it may in addition write any one or more of the kinds of insurance specified in Group C of TABLE THREE, in either case, upon at least meeting the initial surplus requirement prescribed in TABLE THREE for the kinds of insurance for which it is to be licensed. It shall thereafter maintain the minimum surplus prescribed in TABLE THREE for the kinds of insurance licensed. TABLE THREE Kind of insurance specified in the Minimum following numbered Paragraphs of Initial{1} Surplus{1} to subsection (a) of § 1113: Surplus be Maintained _________________________________ _________ _____________ Group A: 7 or 9 - for each such kind $100,000 $100,000 8, 10 or 11 - for each such kind $ 50,000 $ 50,000 13,{2} 15 or 17 - for each such kind $300,000 $300,000 16 $900,000 $900,000 Group B: 4{3} $ 300,000 $200,000 20{4} $1,000,000 $500,000 Group C: 3(i) or 3(ii) - for each such kind $ 100,000 $ 100,000 22 $3,000,000 $2,000,000 24 $ 300,000 $ 300,000 26 (B) $ 300,000 $ 200,000 26(A), 26 (C) or 26(D) - for each such kind $ 900,000 $ 600,000 28 $3,000,000 $2,000,000 6{5}, 12{6} or 14{2} - for each such kind $ 50,000 $ 50,000 27 $ 300,000 $ 150,000 30 $ 300,000 $ 300,000 31 $ 100,000 $ 100,000 Notes to TABLE THREE {1} The amounts shown in TABLE THREE are added to the initial and minimum surplus for the kind of insurance for which the mutual was organized as set forth in TABLE TWO. In addition, if organized to write paragraphs 4, 20 or 21 the initial and minimum surplus required for paragraphs 7, 8, 9, 10, 11, 13, 15, 16 or 17 shall be determined from TABLE TWO for the kind of insurance with the highest initial surplus requirement as indicated in TABLE TWO. After such determination use TABLE THREE to derive the initial and minimum surplus requirements for all other kinds of insurance. {2} If licensed to write paragraph 13, no additional surplus is required for a license to write paragraphs 6, 12, and 14. {3} If licensed to write paragraph 4, no additional surplus is required for a license to write paragraphs 5, 6, 12, 19 and 20 (inland marine only). {4} If licensed to write paragraph 20, no additional surplus is required for a license to write paragraphs 12, 19, and 21. {5} If licensed to write paragraph 4 or 13, no additional initial and minimum surplus is required. {6} If licensed to write paragraphs 4, 13 or 20, no additional initial and minimum surplus is required.

(c) A mutual property/casualty insurance company licensed pursuant to paragraph four of subsection (b) of section four thousand one hundred two of this article to write the kind of insurance specified in paragraph nineteen of subsection (a) of section one thousand one hundred thirteen of this chapter must maintain a minimum surplus of at least six hundred thousand dollars.

(d) A mutual property/casualty insurance company licensed pursuant to subsection (c) of section four thousand one hundred two of this article to reinsure risks or write insurance on risks outside the United States, its territories and possessions, must maintain a surplus to policyholders of at least thirty-five million dollars.

(e) The dollar amounts of initial surplus, minimum surplus and surplus to policyholders set forth in subsections (a), (b) and (c) of this section shall be reduced by fifty percent for any mutual property/ casualty insurance company initially licensed to do business in this state prior to July first, nineteen hundred eighty-two. Such reduction shall not apply to the financial requirements specified in subsection (b) of this section in order to write paragraph twenty-two, twenty-four or twenty-six.

(f) Notwithstanding any provision of this section to the contrary, if licensed to write the kind of insurance specified in paragraph fifteen of subsection (a) of section one thousand one hundred thirteen of this chapter, a mutual property/casualty insurance company may be licensed for the purposes of article nine of the workers' compensation law to write the kind of insurance specified in item (i) of paragraph three of subsection (a) of section one thousand one hundred thirteen of this chapter without having any additional surplus.