Live Free or Die Legal
This website is not an official source of law. This website does not provide legal advice. For official legal materials, verify against the relevant court, legislature, agency, or other official source. Legal information may be incomplete, outdated, or incorrectly processed. Consult a qualified attorney for advice about a specific legal matter.

This RSA section is an unofficial mirror, is not legal advice, and may be incomplete, outdated, or incorrectly processed.

RSA 403-F:9 · Membership

Title
XXXVII: INSURANCE
Chapter
403-F · MUTUAL INSURANCE HOLDING COMPANIES
Status
current
Official source linked
Yes
Official source Copy section link

403-F:9 Membership. –

Copy link
I.

Membership in a mutual insurance holding company shall be determined in accordance with the mutual insurance holding company's articles of incorporation and bylaws and shall be based upon each member holding a policy of insurance with a subsidiary insurance company. Group certificate holders may also be members of the mutual insurance holding company if specified in the bylaws.

Copy link
II.

No member of a mutual insurance holding company may transfer membership or any right arising therefrom.

Copy link
III.

A member of a mutual insurance holding company is not, as such, personally liable for the acts, debts, liabilities, or obligations of the company and may not be assessed by the directors of such company.

Copy link
IV.

A membership interest in a mutual insurance holding company shall not constitute a security, as defined in RSA 421-B:1-102(53). Source. 2000, 247:1. 2015, 273:15, eff. Jan. 1, 2016.

Copy link

Source note

Source. 2000, 247:1. 2015, 273:15, eff. Jan. 1, 2016.

Source history

  • 2000, 247:1
  • 2015, 273:15, eff. Jan. 1, 2016