§431:4-322 Applies to all policies. The commissioner shall not authorize a domestic mutual insurer so to extinguish the contingent liability of any of its members or in any of its policies to be issued, unless it qualifies to and does extinguish such liability of all its members and in all policies for all classes of insurance transacted by it. Except that, if required by the laws of another state in which the insurer is transacting insurance as an authorized insurer, the insurer may issue policies providing for the contingent liability of such of its members as may acquire such policies in such state, and need not extinguish the contingent liability applicable to policies theretofore in force in the state. [L 1987, c 347, pt of §2]
Section: Previous 431-4-315 431-4-316 431-4-317 431-4-318 431-4-319 431-4-320 431-4-321 431-4-322 431-4-323 431-4-324 431-4-325 431-4-326 431-4-401 431-4-402 431-4-403 NextLast modified: October 27, 2016