New Hampshire § 402:14 Mutual Companies

New Hampshire Statutes

§ 402:14 — Mutual Companies

New Hampshire § 402:14

Title XXXVIIINSURANCE

Ch. 402INSURANCE COMPANIES AND AGENTS

SubdivisionLicenses to Local Companies

This text of New Hampshire § 402:14 (Mutual Companies) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 402:14 (2026).

Text

No such license shall be issued to a mutual insurance company which charges a full cash premium, unless it has applications for insurance aggregating not less than $500,000 in not less than 200 separate risks, upon which it shall have received in cash at least one premium for a term not less than one year, amounting in the aggregate to at least $10,000; provided, that this requirement shall not apply to a mutual insurance company having a fully paid up guaranty capital of not less than $500,000, nor to mutual life insurance companies, nor to mutual employers' liability insurance companies.

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No such license shall be issued to a mutual insurance company which charges a full cash premium, unless it has applications for insurance aggregating not less than $500,000 in not less than 200 separate risks, upon which it shall have received in cash at least one premium for a term not less than one year, amounting in the aggregate to at least $10,000; provided, that this requirement shall not apply to a mutual insurance company having a fully paid up guaranty capital of not less than $500,000, nor to mutual life insurance companies, nor to mutual employers' liability insurance companies.