§431:4-325  Nonparticipating policies. (a)  If its bylaws so provide, a domestic mutual insurer may issue policies notentitled to participate in the insurer's savings and earnings, provided it isauthorized to issue policies without contingent liability to assessment.

(b)  Such insurer shall not issue in this Stateboth participating and nonparticipating policies for the same class of risks,unless the right or absence of right to participate is reasonably related tothe premium charge or the special character of the risks assumed. [L 1987, c347, pt of §2]