§431:4-102  Types of insurers permitted. 
An insurer formed in this State shall be either:



(1)  An incorporated stock insurer,



(2)  An incorporated mutual insurer which charges for
and collects in advance cash premiums in an amount adequate to maintain full
legal reserves and to fully meet and discharge all of its obligations and
liabilities under its policies without assessments or calls upon its members
for additional premium, except as provided in this article relative to the
contingent liability of its members, or



(3)  A reciprocal insurer, with respective powers,
duties and restrictions as provided in this article. [L 1987, c 347, pt of §2]