™Your Policy Risk Impact Agent
116 chapters · 1,704 sections in this title.
RSA 403-B:1 Application of Chapter
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A mutual insurance company organized under the laws of this state, other than an assessment mutual, may convert into a stock insurance company upon compliance with the provisions of this chapter.
RSA 403-B:2 Definitions
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In this chapter: I. "Commissioner" means the insurance commissioner. II. "Conversion value" means the amount of the insurer's policyholder surplus, determined in accordance with those accounting procedures and practices prescribed by the National Association of Insurance Commissi…
RSA 403-B:3 Procedure for Conversion
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I. An insurer may apply to the commissioner for conversion pursuant to this chapter by filing with the commissioner a plan of conversion adopted by 2/3 of the entire board of directors, which shall contain the following: (a) The proposed articles of incorporation and bylaws to be…
RSA 403-B:4 Distribution of Conversion Value
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The insurer shall follow the following conversion methodology: I. Each eligible policyholder of a mutual fire or casualty insurance company shall have the right to purchase securities of the stock insurance company into which the insurer is to be converted, based upon such policy…
