§432:1-403  Nonprofit medical, hospitalindemnity associations; tax exemption.  Every association or societyorganized and operating under this article solely as a nonprofit medicalindemnity or hospital service association or society or both shall be, from thetime of such organization, exempt from every state, county and municipal tax,except unemployment compensation tax.  Nothing in this section shall be deemedto exempt the association or society from liability to withhold the taxespayable by its employees and to pay the same to the proper collection officers,and to keep such records, and make such returns and reports, as may be requiredin the case of other corporations, associations or societies similarly exemptedfrom such taxes. [L 1987, c 347, pt of §2]