§431:4-411  Attorney's bond.  (a) Concurrently with the filing of the declaration provided for in section431:4-409, the attorney of a domestic reciprocal shall file with thecommissioner a bond in favor of this State.  The bond shall be executed by the attorneyand by an authorized corporate surety, and shall be subject to thecommissioner's approval.

(b)  The bond shall be in the sum of $25,000conditioned that the attorney will faithfully account, before a notary public,in a sworn affidavit, for all moneys and other property of the insurer cominginto the attorney's hands, and that the attorney will not withdraw orappropriate for the attorney's own use from the funds of the insurer any moneysor property to which the attorney is not entitled under the power of attorney.

(c)  The bond shall provide that it is notsubject to cancellation unless sixty days' advance notice in writing of intentto cancel is given to both the attorney and the commissioner. [L 1987, c 347,pt of §2]