N.H. Rev. Stat. § 401-B:11 — NH Code / Title XXXVII / Chapter 401-B / Section 11
401-B:11 Sanctions.
Status: in_force

I. Any insurer failing, without just cause, to file any registration statement as required in this chapter shall be required, after notice and hearing, to pay a penalty of $2,500 for each day's delay, to be recovered by the commissioner. The commissioner may reduce the penalty if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer. II. Every director or officer of an insurance holding company system who knowingly violates, participates in, or assents to, or who knowingly shall permit any of the officers or agents of the insurer to engage in transactions or make investments which have not been properly reported or submitted pursuant to RSA 401-B:4, I; RSA 401-B:5, I(b) and II or which violate this chapter, shall pay, in individual capacity, a civil forfeiture of not more than $2,500 per violation, after notice and hearing before the commissioner. In determining the amount of the civil forfeiture, the commissioner shall take into account the appropriateness of the forfeiture with respect to the gravity of the violation, the history of previous violations, and such other matters as justice may require. III. Whenever it appears to the commissioner that any insurer subject to this chapter or any director, officer, employee, or agent thereof has engaged in any transaction or entered into a contract which is subject to RSA 401-B:5 and which would not have been approved had the approval been requested, the commissioner may order the insurer to cease and desist immediately any further activity under that transaction or contract. After notice and hearing the commissioner may also order the insurer to void any contracts and restore the status quo if the action is in the best interest of the policyholders, creditors, or the public. IV. Whenever it appears to the commissioner that any insurer or any director, officer, employee, or agent thereof has committed a willful violation of this chapter, the commissioner may cause criminal proceedings to be instituted pursuant to RSA 400-A:16, V by the court for the county in which the principal office of the insurer is located of if the insurer has no office in this state, then by the Merrimack County superior court against the insurer or the responsible director, officer, employee, or agent thereof. Any insurer which willfully violates this chapter may be fined pursuant to RSA 651:2, IV. Any individual who willfully violates this chapter may be fined in his or her individual capacity pursuant to RSA 651:2, IV or be imprisoned for not more than one to 3 years or both. V. Any officer, director, or employee of an insurance holding company system who willfully and knowingly subscribes to or makes or causes to be made any false statements or false reports or false filings with the intent to deceive the commissioner in the performance of his or her duties under this chapter, upon conviction shall be imprisoned for not more than one to 3 years or fined pursuant to RSA 651:2, IV or both. Any fines imposed shall be paid by the officer, director, or employee in his or her individual capacity. VI. Whenever it appears to the commissioner that any person has committed a violation of RSA 401-B:3 and which prevents the full understanding of the enterprise risk to the insurer by affiliates or by the insurance holding company system, the violation may serve as an independent basis for disapproving dividends or distributions and for placing the insurer under an order of supervision in accordance with RSA 402-C.