New Hampshire Revised Statutes 405:4 – Mutual Insurance Company
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Terms Used In New Hampshire Revised Statutes 405:4
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
No such mutual insurance company shall be licensed to do business in the state unless it shall possess $800,000 of surplus to policyholders invested as provided in N.H. Rev. Stat. § 405:2, nor unless its assets equal its outstanding liabilities, including reinsurance, to be estimated as in the case of joint stock insurance companies, and including also the amount of its guaranteed capital.