§431:4-307  Mutual accident and health orsickness insurer.  (a)  When applying for a certificate of authority, adomestic mutual accident and health or sickness insurer shall:

(1)  Have at least five hundred applications from atleast five hundred persons for individual accident and health or sicknessinsurance providing not more than $1,000 of accidental death benefit and notmore than $25 of weekly indemnity for each applicant;

(2)  Have collected from each applicant the properpremium for one year, and have so received from all applicants premiumsaggregating at least $25,000; and

(3)  Have a surplus over all liabilities, as atcompletion of issuance of the insurance contracts so applied for, amounting tonot less than $450,000.

(b)  In lieu of the applications, premiums, andsurplus, it is required to have a surplus amounting to not less than $675,000over all liabilities. [L 1987, c 347, pt of §2 as superseded by c 348, §9; am L2002, c 155, §10]