New Hampshire Statutes
§ 411:3 — Mutual Companies
No such certificate shall be issued to such a corporation organized on the mutual plan until at least 500 persons have subscribed in the aggregate for at least $500,000 of insurance upon their lives and shall each have paid in one full annual premium in cash upon the insurance applied for, nor until it shall have deposited with the commissioner at least $200,000 in the securities required by law.
Free access — add to your briefcase to read the full text and ask questions with AI
New Hampshire § 411:3 (Mutual Companies) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
1913, 42:2. 1917, 20:1. PL 278:3. RL 328:3. RSA 411:3. 1969, 283:10, eff. June 25, 1969.
Nearby Sections
15
§ 411:1
Capital Stock§ 411:11
Certificate§ 411:12
Noncompliance§ 411:13
Change of Securities, Etc§ 411:14
Collection of Interest§ 411:2
Certificate of Authority§ 411:28
Acting Without Certificate§ 411:29
Suits for Penalties§ 411:3
Mutual Companies§ 411:30
Transfer of Risks, Etc§ 411:31
Change of Payee, Etc§ 411:32
Negotiation of Insurance