403-B:2 Definitions. –
In this chapter:
I. "Commissioner" means the insurance commissioner.
II. "Conversion value" means the amount of the insurer's policyholder surplus, determined in accordance with those accounting procedures and practices prescribed by the National Association of Insurance Commissioners and by the commissioner, brought current to the date of adoption by the board of directors of the plan of conversion.
III. "Eligible policyholder" means, with respect to a mutual fire or casualty insurance company, a policyholder of the insurer on the date of adoption of the plan of conversion by the board of directors pursuant to RSA 403-B:3, I or, with respect to a mutual life insurance company, such policyholders defined in the plan of conversion approved by the commissioner.
IV. "Net premiums" means gross premiums paid by a policyholder to the insurer, less return premiums and dividends paid.