Section 411:3 Mutual Companies. - New Hampshire Statutes

No such certificate shall be issued to such a corporation organized on the mutual plan until at least 500 persons have subscribed in the aggregate for at least $500,000 of insurance upon their lives and shall each have paid in one full annual premium in cash upon the insurance applied for, nor until it shall have deposited with the commissioner at least $200,000 in the securities required by law.

Source. 1913, 42:2. 1917, 20:1. PL 278:3. RL 328:3. RSA 411:3. 1969, 283:10, eff. June 25, 1969.