§431:4-313  Directors.  (a)  No
individual shall be a director of a domestic mutual insurer by reason of the
individual's holding public office (i.e. ex officio).



(b)  An individual is disqualified from being
or 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 of
creditors. [L 1987, c 347, pt of §2]