§432:1-403  Nonprofit medical, hospital
indemnity associations; tax exemption.  Every association or society
organized and operating under this article solely as a nonprofit medical
indemnity or hospital service association or society or both shall be, from the
time of such organization, exempt from every state, county and municipal tax,
except unemployment compensation tax.  Nothing in this section shall be deemed
to exempt the association or society from liability to withhold the taxes
payable 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 required
in the case of other corporations, associations or societies similarly exempted
from such taxes. [L 1987, c 347, pt of §2]