§431:4-202 Increase of capital. (a) A domestic stock insurer may increase its capital stock by complying with section 414-281 and section 431:4-120. The increase in capital shall be effective upon the payment of the increased capital in full in cash.
(b) If the increased capital stock is to be distributed as stock dividend, the increased capital stock may be fully paid in out of any available surplus funds as is provided in section 431:4-204, and the payment shall be effected by a transfer on the insurer's books from its surplus account to its capital account. [L 1987, c 347, pt of §2; am L 1989, c 207, §4; am L 2002, c 40, §69]
Section: Previous 431-4-122 431-4-123 431-4-124 431-4-125 431-4-126 431-4-127 431-4-201 431-4-202 431-4-203 431-4-204 431-4-205 431-4-206 431-4-207 431-4-208 431-4-209 NextLast modified: October 27, 2016