§431:4-325 Nonparticipating policies. (a) If its bylaws so provide, a domestic mutual insurer may issue policies not entitled to participate in the insurer's savings and earnings, provided it is authorized to issue policies without contingent liability to assessment.
(b) Such insurer shall not issue in this State both participating and nonparticipating policies for the same class of risks, unless the right or absence of right to participate is reasonably related to the premium charge or the special character of the risks assumed. [L 1987, c 347, pt of §2]
Section: Previous 431-4-318 431-4-319 431-4-320 431-4-321 431-4-322 431-4-323 431-4-324 431-4-325 431-4-326 431-4-401 431-4-402 431-4-403 431-4-404 431-4-405 431-4-406 NextLast modified: October 27, 2016