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.
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 […]
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 […]
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 […]
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.
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, […]
403-F:3 Formation of a Mutual Insurance Holding Company. – I. A mutual insurance company may reorganize as a mutual insurance holding company system consisting of a mutual insurance holding company and a subsidiary insurance company. The reorganization may be effected by the organization of one or more companies, amendment or restatement of the articles […]
403-F:4 Plan of Reorganization. – I. A plan of reorganization shall include the following provisions: (a) A description of the structure of the mutual insurance holding company system. (b) A description of the qualifications for membership in and the rights of members of the mutual insurance holding company. (c) A description of the corporate […]
403-F:5 Hearing; Approval. – I. Within 60 days after receipt of a complete plan of reorganization, the commissioner shall hold a public hearing to allow public comment on the plan of reorganization. The commissioner shall give written notice of the hearing to the mutual insurer not less than 30 days before the hearing. Within […]
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 […]
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.
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.
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 […]
