§431:4-324  Dividends.  (a)  Thedirectors of a domestic mutual insurer may from time to time apportion and payto its members dividends only out of that part of its surplus which is inexcess of its required minimum surplus.

(b)  The dividends shall be paid or credited topolicyholders according to such reasonable classification of its policies asthe directors may in their discretion from time to time establish.  No dividendshall be paid which unfairly discriminates between policies within the same classification.

(c)  No dividend, otherwise earned, shall bemade contingent upon the payment of renewal premium on any policy. [L 1987, c347, pt of §2]