§431:4-202  Increase of capital.  (a)  A
domestic stock insurer may increase its capital stock by complying with section
414-281 and section 431:4-120.  The increase in capital shall be effective upon
the payment of the increased capital in full in cash.



(b)  If the increased capital stock is to be
distributed as stock dividend, the increased capital stock may be fully paid in
out of any available surplus funds as is provided in section 431:4-204, and the
payment shall be effected by a transfer on the insurer's books from its surplus
account to its capital account. [L 1987, c 347, pt of §2; am L 1989, c 207, §4;
am L 2002, c 40, §69]