paid-in fund

Definition of "paid-in fund"
  1. A type of emergency cash reserve established by mutual insurance companies instead of a capital stock account, designed to cover unexpected losses
How to use "paid-in fund" in a sentence
  1. The paid-in fund of the mutual insurance company was used to cover the recent large insurance claims.
  2. To protect against unforeseen losses, they established a substantial paid-in fund.
  3. The mutual insurance company's profitable year allowed them to contribute more to their paid-in fund.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z