New Hampshire Statutes
§ 401:3 — Capital Stock
Such a corporation may have a capital stock or may do business on the mutual plan. No such mutual corporations shall be incorporated after the first of July, 1969, to transact any kinds of insurance business on the assessment plan requiring as a condition for granting insurance the signing of a premium deposit note by the insured, which note is given for the purpose of establishing a limit of liability to assessment. Any such company currently licensed and operating on such plans shall be restricted to the lines of business in which it was engaged on July 1, 1969, provisions of RSA 401:7 notwithstanding.
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Legislative History
1917, 80:3. PL 272:3. RL 322:3. 1947, 182:2. RSA 401:3. 1969, 293:4, eff. June 30, 1969.
Nearby Sections
15
§ 401:1
Purposes§ 401:1-a
Purposes; Miscellaneous Insurance§ 401:11
Merger of Insurance Companies§ 401:13
Officers§ 401:15
Name§ 401:16
Name Reservation§ 401:17
Perpetual Existence; Presumption§ 401:18
Maximum Risk Retention§ 401:2
Incorporators§ 401:3
Capital Stock§ 401:4
Paid-up Capital§ 401:5
Combinations of Business