§431:4-409  Application for authority;
declaration required.  (a)  When applying for a certificate of authority,
the original subscribers and the proposed attorney shall fulfill the
requirements of section 431:3-212, and execute and file with the commissioner a
declaration setting forth:



(1)  The name of the insurer, in compliance with
section 431:3-202(b) and section 431:4-104(d)(1);



(2)  The location of the insurer's principal office,
which shall be the same as that of the attorney;



(3)  The classes of insurance proposed to be
transacted;



(4)  The names and addresses of the original
subscribers;



(5)  The designation and appointment of the proposed
attorney and a copy of the power of attorney;



(6)  The names and addresses of the officers and
directors of the attorney if a corporation, or of its members if a partnership;



(7)  The powers of the subscribers' advisory committee
and the names and terms of office of the members thereof;



(8)  That all moneys paid to the reciprocal, after
deducting therefrom any sum payable to the attorney, shall be held by the
attorney-in-fact in the name of the reciprocal insurer for the purposes
specified in the subscribers' agreement;



(9)  A copy of the subscribers' agreement;



(10)  A statement that each of the original subscribers
has in good faith applied for insurance of the class proposed to be transacted,
and that the insurer has received from each such subscriber the full premium or
premium deposit required for the policy applied for, for a term of not less
than twelve months at the rate theretofore filed with and approved by the
commissioner;



(11)  A statement of the financial condition of the
insurer, and a schedule of its assets; and



(12)  A copy of each policy, endorsement, and
application form it then proposes to issue or use.



(b)  Such declaration shall be acknowledged by
each subscriber and by the attorney before any officer authorized to take
acknowledgements of deeds. [L 1987, c 347, pt of §2]