§431:4-313  Directors.  (a)  No individual shall be a director of a domestic mutual insurer by reason of the individual's holding public office (i.e. ex officio).

     (b)  An individual is disqualified from being or acting as a director if such person:

     (1)  Is adjudged as a bankrupt;

     (2)  Took the benefit of any insolvency law; or

     (3)  Made a general assignment for the benefit of creditors. [L 1987, c 347, pt of §2]