The maximum premium shall be expressed in the policy of a mutual company, and it may be solely a cash premium, or may be a cash premium and an additional contingent premium, which contingent premium shall be not less than the cash premium, but no mutual company, except as otherwise provided in § 31-2502.14 , shall issue any policy for a cash premium without an additional contingent premium until and unless it possesses a surplus of not less than $600,000.
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