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



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



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



(3)  Have a surplus over all liabilities, as at
completion of issuance of the insurance contracts so applied for, amounting to
not less than $450,000.



(b)  In lieu of the applications, premiums, and
surplus, it is required to have a surplus amounting to not less than $675,000
over all liabilities. [L 1987, c 347, pt of §2 as superseded by c 348, §9; am L
2002, c 155, §10]