§431:4-326  Members' share of assets. (a)  Upon the liquidation of a domestic mutual insurer, its assets remainingafter discharge of its indebtedness and policy obligations shall be distributedto its members who were members within the thirty-six months prior to the lasttermination of its certificate of authority.

(b)  The distributive share of each membershall be in the proportion that the aggregate premiums earned by the insurer onthe policies of the member during the combined periods of the member'smembership, bear to the aggregate of all premiums so earned on the policies ofall members.  If a life insurer, the insurer shall make a reasonableclassification of its life insurance policies so held by the members and aformula, based upon such classification, for determining the equitabledistributive share of each such member.  The classification and formula shallbe subject to the commissioner's approval. [L 1987, c 347, pt of §2]