Capital: Other than Life Insurer

Every domestic insurer shall have a minimum paid-in capital of twenty-five thousand dollars ($25,000.00), which shall be sufficient for the transaction of any one

(1)class of insurance authorized under this Title, except life insurance. For each additional class of insurance to be transacted, except life insurance, there shall be an additional paid-in capital of fifteen thousand dollars ($15,000.00), but any insurer having a paid-in capital of one hundred thousand dollars ($100,000.00) may transact any or all classes of insurance authorized, except life insurance. Paid-in capital required under this section must be paid in cash.