§431:4-102 Types of insurers permitted. An insurer formed in this State shall be either:
(1) An incorporated stock insurer,
(2) An incorporated mutual insurer which charges for and collects in advance cash premiums in an amount adequate to maintain full legal reserves and to fully meet and discharge all of its obligations and liabilities under its policies without assessments or calls upon its members for additional premium, except as provided in this article relative to the contingent liability of its members, or
(3) A reciprocal insurer, with respective powers, duties and restrictions as provided in this article. [L 1987, c 347, pt of §2]
Section: Previous 431-3a-402 431-3a-403 431-3a-501 431-3a-502 431-3a-503 431-3a-504 431-4-101 431-4-102 431-4-103 431-4-104 431-4-105 431-4-106 431-4-106.5 431-4-107 431-4-108 NextLast modified: October 27, 2016