§431:4-109  Permit issued or denied. 
(a)  The commissioner shall expeditiously examine the application for a
solicitation permit and make any investigation relative thereto deemed
necessary.



(b)  The commissioner shall give notice to the
applicant that the commissioner will issue a solicitation permit, stating the
terms to be contained therein, if the commissioner finds:



(1)  The application is complete;



(2)  The documents therewith filed are equitable in
terms and proper in form;



(3)  The agreements made or proposed are equitable to
present and future shareholders, subscribers, members, or policyholders; and



(4)  None of the persons named in the application as
being associated or to be associated with the formation of the insurer or
corporation is untrustworthy.



(c)  After such notice, the commissioner shall
issue to the applicant a solicitation permit upon the applicant's filing of the
following:



(1)  The bond required by section 431:4-110; and



(2)  The articles of incorporation of the incorporated
insurer or other corporation with the department of commerce and consumer
affairs and upon presentation of evidence of such filing to the commissioner.



(d)  If the commissioner denies the application
for a solicitation permit, the commissioner shall give notice to the applicant
that the permit will not be granted, state the grounds therefor, and refund to
the applicant all sums so deposited except the application fee. [L 1987, c 347,
pt of §2]