§431:4-313  Directors.  (a)  Noindividual shall be a director of a domestic mutual insurer by reason of theindividual's holding public office (i.e. ex officio).

(b)  An individual is disqualified from beingor acting as a director if such person:

(1)  Is adjudged as a bankrupt;

(2)  Took the benefit of any insolvency law; or

(3)  Made a general assignment for the benefit ofcreditors. [L 1987, c 347, pt of §2]