§431:6-102  Merged, reorganized
institutions.  In applying the earnings test set forth in section 431:6-101
to any such institution, whether or not in legal existence during the whole of
such five years next preceding the date of investment by the insurer, which has
at any time during the five-year period acquired substantially all of the
assets of any other institution or institutions by purchase, merger,
consolidation, or otherwise, or has been reorganized pursuant to the bankruptcy
law, the earnings of the predecessor or constituent institutions, or of the
institution so reorganized, available for the interest and dividends for such
portion of the five-year period as may have preceded the acquisition, or the
reorganization, may be included in the earnings of the issuing, assuming, or
guaranteeing institution for such portion of such period as may be determined
in accordance with adjusted or pro forma consolidated earnings statements
covering such portion of such period and giving effect to all stock or shares
outstanding, and all fixed charges existing, immediately after the acquisition,
or the reorganization. [L 1987, c 347, pt of §2]