§431:4-116  Expense pending completion.



  (a)(1)  The incorporators of any insurer shall be jointly
and severally liable for its debts or liabilities until it has secured a
certificate of authority.



(2)  The incorporators of a corporation other than an
insurer or the persons proposing to form a reciprocal insurer shall be jointly
and severally liable for its debts or liabilities until it has completed its
organization.



(b)  Any portion of funds received on account
of stock subscriptions which is allowed under the solicitation permit, may be
applied concurrently toward the payment of promotion and organization expenses
incurred. [L 1987, c 347, pt of §2]