RSA 402:14 · Mutual Companies

402:14 Mutual Companies. – 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. Source. 1917, 78:2. PL 272:13. RL 323:14. RSA 402:14. 1969, 283:4, eff. June 25, 1969.

Copy link