Section 403-F:10 – Members’ Share of Assets on Voluntary Dissolution.
403-F:10 Members’ Share of Assets on Voluntary Dissolution. – I. Upon any voluntary dissolution of a domestic mutual insurance holding company, its assets remaining after discharge of its indebtedness, if any, and expenses of administration, shall be distributed to existing persons who were its members at any time within the 3-year period preceding the […]
Section 403-F:11 – Application of Holding Company Statutes and Regulations.
403-F:11 Application of Holding Company Statutes and Regulations. – Each reorganized subsidiary insurance company shall be subject to the applicable laws of this state relating to insurance holding company systems. A mutual insurance holding company shall not be subject to provisions of this title or rules adopted thereunder with respect to the writing of […]
Section 403-F:12 – Converting Mutual Insurance Holding Company.
403-F:12 Converting Mutual Insurance Holding Company. – A mutual insurance holding company may convert to a stock holding company by complying with the procedures set forth in RSA 403-B, with the mutual insurance holding company to be treated as the "insurer" and with its members to be treated as "eligible policyholders" for purposes of […]
Section 403-F:13 – Rulemaking.
403-F:13 Rulemaking. – The commissioner shall adopt rules, pursuant to RSA 541-A, as may be necessary for the administration of this chapter. Source. 2000, 247:1, eff. June 8, 2000.
Section 403-F:6 – Issuance of Shares to Officers, Directors, and Employees.
403-F:6 Issuance of Shares to Officers, Directors, and Employees. – A number of shares or options to purchase shares equal in the aggregate to 5 percent of the outstanding voting shares of the capital stock of one corporate member of the mutual insurance holding company system selected by the mutual insurance holding company may […]
Section 403-F:7 – Applicability of General Corporation Statutes.
403-F:7 Applicability of General Corporation Statutes. – A mutual insurance holding company organized under this chapter shall be subject to only those provisions of the laws relating to corporations in general that are not inconsistent with the provisions of title XXXVII, the insurance code. Source. 2000, 247:1, eff. June 8, 2000.
Section 403-F:8 – Merger.
403-F:8 Merger. – Subject to applicable requirements of this chapter, a mutual insurance holding company may merge or consolidate with a mutual insurance holding company licensed pursuant to this chapter or any similar entity organized pursuant to the laws of any other state. Source. 2000, 247:1, eff. June 8, 2000.
Section 403-F:9 – Membership.
403-F:9 Membership. – I. Membership in a mutual insurance holding company shall be determined in accordance with the mutual insurance holding company’s articles of incorporation and bylaws and shall be based upon each member holding a policy of insurance with a subsidiary insurance company. Group certificate holders may also be members of the mutual […]
Section 403-F:1 – Authorization.
403-F:1 Authorization. – A mutual insurance company organized under the laws of this state may reorganize by converting to a stock insurance company and forming a mutual insurance holding company, upon compliance with the provisions of this chapter. Source. 2000, 247:1, eff. June 8, 2000.
Section 403-F:2 – Definitions.
403-F:2 Definitions. – In this chapter: I. " Commissioner " means the insurance commissioner. II. " Eligible policyholder " means, with respect to a mutual fire or casualty insurance company, a policyholder of the insurer on the date of adoption of the plan of reorganization by the board of directors pursuant to RSA 403-F:4, […]