Current as of: 2009 Any corporation organized under the authority of any other state or country, and engaged in the business of casualty insurance upon the assessment plan, whether a mutual or joint stock company, which does not contract to pay living policyholders or members any fixed benefit save for bodily injury or physical disability from any cause, shall, upon filing with the insurance commissioner copies, statements, and agreements, and upon payment of fees and taxes as required of foreign insurance companies, be licensed by the commissioner to do business in this state, upon furnishing, in addition to other requirements, a certificate, under oath of its president and secretary, that it is paying, and for the 12 months then next preceding has paid, the maximum amount named in its policies or certificates in full and that an assessment upon its policyholders or members will produce a sum at least equal to the maximum policy or certificate written by the corporation, evidence that it has accumulated and maintains as a trust for the benefit of policy or certificate holders only, a fund equal at least to the amount which one assessment call upon said certificate or policyholders would produce, and of not less than $10,000, invested as provided in RSA 405:2, and a certificate from the proper authority of its home state or country that corporations of this state, engaged in the business of casualty insurance on the assessment plan, are legally entitled to do business in such state or country. ________________________________________________________________________
New Hampshire Laws: Life Insurance
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