Paid-In Surplus. The total amount of paid-in surplus by Pool members at the effective date of this Agreement is $1,902,824.00. The paid-in surplus contribution of any new member of the Pool shall be calculated by the Board on a basis consistent with the current paid-in surplus contributions of the existing members, calculated risk and loss history and any other reasonable criteria as may be determined by the Board. The paid-in surplus contribution of each Pool member shall be represented by a Certificate.
Paid-In Surplus. Prior to returning any paid-in surplus represented by Certificates, the Board shall make a determination as to what amount of aggregate surplus it should maintain in accordance with sound industry practice. The withdrawing or terminated member shall only be entitled to the return of its share of paid-in surplus to the extent the aggregate surplus exceeds the amount so determined to be maintained, and only after the Pool has received the prior written approval of the Commissioner of Insurance. Any sums remaining unpaid shall be paid in one or more installments at such time or times as the Board determines following the above procedure. If at any time more than one Certificate is eligible for payment under this Section 7.3.2, then payments shall be made in proportion to the amount outstanding on each such Certificate in relation to the total outstanding on all such Certificates. Payments hereunder shall have priority over payment of Certificates held by members and paid under Section 6.7. Notwithstanding the provisions of this Section 7.3, any withdrawing or terminated member shall continue to be subject to Section 7.4 of this Agreement.
Paid-In Surplus. The Directors may from time to time determine how much of the maintenance and other receipts shall be credited on the corporate accounts to “Paid-in-Surplus”. Unless the Directors shall determine otherwise, the amount of payments on account of principal of any mortgages shall be credited to Paid- in-Surplus.
Paid-In Surplus. The Directors may from time to time as may be proper determine how much of the maintenance and other receipts, when received, shall be credited on the corporate accounts to "Paid-In Surplus" (but not more than such amount as represents payment on account of principal of mortgages on the property and other capital expenditures). Unless the Directors shall determine otherwise, the amount of payments on account of principal of any mortgages shall be credited to Paid-In Surplus.
