§431:4-204 Dividends to stockholders. (a) No domestic stock insurer shall pay any cash dividend to stockholders except out of that part of its available surplus funds which is derived from any realized net profits.
(b) Such an insurer may pay a stock dividend out of any available surplus funds.
(c) No dividend shall be declared or paid which would reduce the insurer's surplus to an amount less than the minimum required for the classes of insurance thereafter to be transacted.
(d) The commissioner may revoke the certificate of authority of any insurer violating this section. [L 1987, c 347, pt of §2]
Section: Previous 431-4-124 431-4-125 431-4-126 431-4-127 431-4-201 431-4-202 431-4-203 431-4-204 431-4-205 431-4-206 431-4-207 431-4-208 431-4-209 431-4-210 431-4-211 NextLast modified: October 27, 2016