ARTICLE 4

DOMESTICINSURERS

 

PART I. ORGANIZATION, POWERS AND SALE OF SECURITIES OF

DOMESTICINSURERS

 

§431:4-101  Definitions.  As used inthis article:

(1)  Surplus funds means the excess of the insurer'sassets over its liabilities, including its capital stock as a liability.

(2)  Available surplus means the excess over theminimum amount of surplus required for the classes of insurance the insurer isauthorized to transact.

(3)  Equity security means any stock or similarsecurity; any security convertible, with or without consideration, into such asecurity, or carrying any warrant or right to subscribe to or purchase such asecurity; any such warrant or right; or any security which the commissioner bysuch rules and regulations as the commissioner may prescribe in the publicinterest or for the protection of investors designate as an equity security. [L1987, c 347, pt of §2]