RSA 403-B:2 · Definitions

403-B:2 Definitions. – In this chapter:

Copy link

I.

"Commissioner" means the insurance commissioner.

Copy link

II.

"Conversion value" means the amount of the insurer's policyholder surplus, determined in accordance with those accounting procedures and practices prescribed by the National Association of Insurance Commissioners and by the commissioner, brought current to the date of adoption by the board of directors of the plan of conversion.

Copy link

III.

"Eligible policyholder" means, with respect to a mutual fire or casualty insurance company, a policyholder of the insurer on the date of adoption of the plan of conversion by the board of directors pursuant to RSA 403-B:3, I or, with respect to a mutual life insurance company, such policyholders defined in the plan of conversion approved by the commissioner.

Copy link

IV.

"Net premiums" means gross premiums paid by a policyholder to the insurer, less return premiums and dividends paid. Source. 1992, 288:16, eff. May 18, 1992.

Copy link