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



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



(c)  The bond shall provide that it is not
subject to cancellation unless sixty days' advance notice in writing of intent
to cancel is given to both the attorney and the commissioner. [L 1987, c 347,
pt of §2]