§431:4-322  Applies to all policies. The commissioner shall not authorize a domestic mutual insurer so to extinguishthe contingent liability of any of its members or in any of its policies to beissued, unless it qualifies to and does extinguish such liability of all itsmembers and in all policies for all classes of insurance transacted by it. Except that, if required by the laws of another state in which the insurer istransacting insurance as an authorized insurer, the insurer may issue policiesproviding for the contingent liability of such of its members as may acquiresuch policies in such state, and need not extinguish the contingent liabilityapplicable to policies theretofore in force in the state. [L 1987, c 347, pt of§2]