reglab/housing_qa huggingface dataset:
NH Rev Stat § 403-B:4 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-B - Conversion of Mutual Insurers|Section 403-B:4 - Distribution of Conversion Value.

    403-B:4 Distribution of Conversion Value. –||The insurer shall follow the following conversion methodology:||I. Each eligible policyholder of a mutual fire or casualty insurance company shall have the right to purchase securities of the stock insurance company into which the insurer is to be converted, based upon such policyholder's proportionate amount of the conversion value determined by dividing the net premium paid by each eligible policyholder to the insurer with respect to the 3-year period immediately preceding the date of adoption of the resolution by the board of directors approving the plan of conversion by the total net premiums received by the insurer from eligible policyholders with respect to that period.||II. Each eligible policyholder of a mutual life insurance company shall have the right to purchase securities of the stock insurance company into which the insurer is to be converted based upon such policyholder's proportionate amount of the conversion value determinable under a fair formula approved by the commissioner.||III. The stock offering shall provide that eligible policyholders have the first right to purchase the stock at its stated value. Shares remaining unsold or not subscribed for may be offered to the general public, including the insurer's directors, officers, agents or employees, provided, however, that the price of shares offered to the general public shall be greater than or equal to the price of shares offered to eligible policyholders.||IV. The above distribution method shall constitute full payment and discharge of the policyholder's proportionate conversion value, but this provision shall not be held to prohibit the stock insurance company from including in the plan of conversion provisions for the distribution of any other valuable consideration to policyholders. Notwithstanding any other provision of law, the policyholders shall have no other rights with respect to the conversion of the insurer after the effective date of the conversion under this chapter.|||Source. 1992, 288:16, eff. May 18, 1992.|
NH Rev Stat § 403-B:5 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-B - Conversion of Mutual Insurers|Section 403-B:5 - Compensation.

    403-B:5 Compensation. –||No director, officer or other employee of the insurer shall receive any fee, commission or other valuable consideration whatsoever, other than regular salary and compensation, for in any manner aiding, promoting or assisting in the conversion.|||Source. 1992, 288:16, eff. May 18, 1992.|
NH Rev Stat § 403-B:6 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-B - Conversion of Mutual Insurers|Section 403-B:6 - Issuance of New Certificate of Authority.

    403-B:6 Issuance of New Certificate of Authority. –||After approval by the secretary of state of the articles of incorporation and certification by the insurer that the conversion has been effected, the commissioner shall issue a new certificate of authority to the insurer as a stock insurance company, effective as of the effective date of the conversion. The conversion shall be deemed to have been completed and the insurer shall become a domestic stock insurance company on such effective date, unless the plan of conversion shall have been terminated by the board of directors with the concurrence of the commissioner prior to such effective date. The stock insurance company shall be a continuation of the insurer and deemed to have been organized at the time the insurer was formed. The conversion shall not eliminate or change any of the insurer's rights and obligations existing prior to the date of conversion except as provided by this chapter. The stock insurance company, after conversion, shall exercise all the rights and powers and perform all the duties conferred or imposed by law upon insurers writing the classes of insurance written by it.|||Source. 1992, 288:16, eff. May 18, 1992.|
NH Rev Stat § 403-B:7 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-B - Conversion of Mutual Insurers|Section 403-B:7 - Officers and Directors.

    403-B:7 Officers and Directors. –||The directors and officers of the insurer shall serve until the directors and officers of the stock insurance company have been duly elected and qualified pursuant to the articles of incorporation and bylaws of the stock insurance company.|||Source. 1992, 288:16, eff. May 18, 1992.|
NH Rev Stat § 403-B:8 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-B - Conversion of Mutual Insurers|Section 403-B:8 - Judicial Review.

    403-B:8 Judicial Review. –||Any person aggrieved by any order or decision of the commissioner pursuant to this chapter may appeal from such decision in accordance with the provisions of RSA 541.|||Source. 1992, 288:16, eff. May 18, 1992.|
NH Rev Stat § 403-B:9 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-B - Conversion of Mutual Insurers|Section 403-B:9 - Rules.

    403-B:9 Rules. –||The commissioner may adopt rules, pursuant to RSA 541-A, as may be necessary for the administration of this chapter.|||Source. 1992, 288:16. 2002, 207:47, eff. July 15, 2002.|
NH Rev Stat § 403-C:1 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-C - Disclosure of Material Transactions|Section 403-C:1 - Report.

    403-C:1 Report. –||I. Every insurer domiciled in this state shall file a report with the commissioner disclosing material acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance agreements unless such acquisitions and dispositions of assets or material nonrenewals, cancellations or revisions of ceded reinsurance agreements have been submitted to the commissioner for review, approval, or information purposes pursuant to other provisions of the insurance code, laws, rules, or other requirements.||II. The report required in paragraph I is due within 15 days after the end of the calendar month in which any of the transactions specified in paragraph I occurs.||III. One complete copy of the report, including any exhibits or other attachments, shall be filed with:||(a) The insurance department of the insurer's state of domicile; and||(b) The National Association of Insurance Commissioners.||IV. All reports obtained by or disclosed to the commissioner pursuant to this chapter shall be given confidential treatment and shall not be subject to subpoena and shall not be made public by the commissioner, the National Association of Insurance Commissioners, or any other person, except to insurance departments of other states, without the prior written consent of the insurer to which it pertains unless the commissioner, after giving the insurer who would be affected notice and an opportunity to be heard, determines that the interest of policyholders, shareholders, or the public will be served by the publication, in which event the commissioner may publish all or any part in the manner the commissioner may deem appropriate.|||Source. 1995, 146:1, eff. Jan. 1, 1996.|
NH Rev Stat § 403-C:2 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-C - Disclosure of Material Transactions|Section 403-C:2 - Acquisitions and Dispositions of Assets.

    403-C:2 Acquisitions and Dispositions of Assets. –||I. No acquisitions or dispositions of assets need be reported pursuant to RSA 403-C:1 if the acquisitions or dispositions are not material. For purposes of this chapter, a material acquisition (or the aggregate of any series of related acquisitions during any 30-day period) or disposition (or the aggregate of any series of related dispositions during any 30-day period) is one that is nonrecurring and not in the ordinary course of business and involves more than 5 percent of the reporting insurer's total admitted assets as reported in its most recent statutory statement filed with the insurance department of the insurer's state of domicile.||II. (a) Asset acquisitions subject to this chapter include every purchase, lease, exchange, merger, consolidation, succession, or other acquisition other than the construction or development of real property by or for the reporting insurer or the acquisition of materials for such purpose.||(b) Asset dispositions subject to this chapter include every sale, lease, exchange, merger, consolidation, mortgage, hypothecation, assignment (whether for the benefit of creditors or otherwise), abandonment, destruction, or other disposition.||III. (a) The following information is required to be disclosed in any report of a material acquisition or disposition of assets:||(1) Date of the transaction.||(2) Manner of acquisition or disposition.||(3) Description of the assets involved.||(4) Nature and amount of the consideration given or received.||(5) Purpose of, or reason for, the transaction.||(6) Manner by which the amount of consideration was determined.||(7) Gain or loss recognized or realized as a result of the transaction.||(8) Name of each person from whom the assets were acquired or to whom they were disposed.||(b) Insurers are required to report material acquisitions and dispositions on a nonconsolidated basis unless the insurer is part of a consolidated group of insurers which utilizes a pooling arrangement or 100 percent reinsurance agreement that affects the solvency and integrity of the insurer's reserves and the insurer ceded substantially all of its direct and assumed business to the pool. An insurer is deemed to have ceded substantially all of its direct and assumed business to a pool if the insurer has less than $1,000,000 total direct plus assumed written premiums during a calendar year that are not subject to a pooling arrangement and the net income of the business not subject to the pooling arrangement represents less than 5 percent of the insurer's capital and surplus.|||Source. 1995, 146:1, eff. Jan. 1, 1996.|
NH Rev Stat § 403-E:1 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-E - Charitable Gift Annuities Exemption|Section 403-E:1 - Definitions.

    403-E:1 Definitions. –||In this chapter:||I. "American Council on Gift Annuities" means the organization which on the effective date of this chapter has its principal place of business in Indianapolis, Indiana, and which advises charitable organizations and promulgates recommended standards regarding the provision of charitable gift annuities.||II. "Charitable gift annuity" means a transfer of cash or other property by a donor to a charitable organization in return for an annuity payable over one or 2 lives, under which the actuarial value of the annuity is less than the value of the cash or other property transferred and the difference in value constitutes a charitable deduction for federal tax purposes.||III. "Charitable organization" means an entity described by:||(a) Section 501(c) (3), Internal Revenue Code of 1986 (26 U.S.C. section 501(c) (3)); or||(b) Section 170(c), Internal Revenue Code of 1986 (26 U.S.C. section 170(c)).||IV. "Director" means the director of charitable trusts, serving pursuant to RSA 7:20.||V. "Qualified charitable gift annuity" means a charitable gift annuity described by section 501(m)(5), Internal Revenue Code of 1986 (26 U.S.C. section 501(m)(5)), and section 514(c)(5), Internal Revenue Code of 1986 (26 U.S.C. 514(c)(5)), that is issued by a charitable organization that on the date of the annuity agreement:||(a) Has a minimum of $300,000 in unrestricted cash, cash equivalents, or publicly traded securities, exclusive of the assets funding the annuity agreement;||(b) Has been in continuous operation for at least 3 years or is a successor or affiliate of a charitable organization that has been in continuous operation for at least 3 years;||(c) Issues charitable gift annuities with payout ratios no greater than recommended by the American Council on Gift Annuities at the time of issuance;||(d) Retains 100 percent of the contribution made in exchange for each charitable gift annuity, increased by earnings on the contribution and decreased by annuity payments and expenses properly allocated to the annuity, until the annuity is terminated; and||(e) Invests contributions made in exchange for charitable gift annuities solely in conformance with article 9 of RSA 564-B, general standards of prudent investment.|||Source. 1999, 68:1. 2004, 130:5, eff. Oct. 1, 2004.|
NH Rev Stat § 403-E:2 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-E - Charitable Gift Annuities Exemption|Section 403-E:2 - Qualified Charitable Gift Annuity is Not Insurance.

    403-E:2 Qualified Charitable Gift Annuity is Not Insurance. –||I. The issuance of a qualified charitable gift annuity does not constitute engaging in the business of insurance in this state.||II. A charitable gift annuity issued before the effective date of this chapter shall be deemed to be a qualified charitable gift annuity for purposes of this chapter, and the issuance of that charitable gift annuity shall not constitute engaging in the business of insurance in this state, if the charitable organization issuing such annuity has given notice to the director pursuant to RSA 403-E:3, II(a).|||Source. 1999, 68:1, eff. May 28, 1999.|
NH Rev Stat § 403-E:3 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-E - Charitable Gift Annuities Exemption|Section 403-E:3 - Disclosures; Notification; Recertification.

    403-E:3 Disclosures;  Notification;  Recertification. –||I. (a) When entering into an agreement for a qualified charitable gift annuity, the charitable organization shall disclose to the donor in writing in the annuity agreement that a qualified charitable gift annuity is not insurance under the laws of this state and is not subject to regulation by the insurance department or protected by an insurance guaranty association. The following information shall also be similarly disclosed:||(1) The value of the property being transferred.||(2) The amount of the annuity to be paid.||(3) The manner in which, and the intervals at which, the payment is to be made.||(4) The date that payments are to begin.||(b) The disclosures required by this paragraph shall appear on the first page of the annuity agreement in a print size no smaller than that employed in the annuity agreement generally.||II. (a) A charitable organization that issues qualified charitable gift annuities shall notify the director in writing by the later of 90 days after the effective date of this chapter or the date on which it enters into the organization's first qualified charitable gift annuity agreement. The notice shall:||(1) Be signed by an officer or director of the organization;||(2) Identify the organization; and||(3) Certify that:||(A) The organization is a charitable organization; and||(B) The annuities issued by the organization shall be limited to qualified charitable gift annuities, as defined in RSA 403-E:1, V.||(b) Subsequently, each charitable organization that issues qualified charitable annuities shall, as part of its report submitted to the director pursuant to RSA 7:28, II and III, annually recertify that the annuities issued by the organization shall be limited to qualified charitable gift annuities, as defined in RSA 403-E:1, V.||(c) The organization shall not be required to submit additional information except to determine appropriate penalties that may be applicable under RSA 403-E:4.|||Source. 1999, 68:1, eff. May 28, 1999.|
NH Rev Stat § 403-E:4 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-E - Charitable Gift Annuities Exemption|Section 403-E:4 - Failure to Comply.

    403-E:4 Failure to Comply. –||The failure of a charitable organization to comply with the requirements imposed under RSA 403-E:3 of this chapter shall not prevent a charitable gift annuity that otherwise meets the requirements of this chapter from constituting a qualified charitable gift annuity. The director shall enforce performance of RSA 403-E:3 by sending a letter by certified mail, return receipt requested, demanding that the charitable organization comply with the requirements of RSA 403-E:3. The director may fine the charitable organization in an amount not to exceed $1,000 per qualified charitable gift annuity agreement issued until such time as the charitable organization complies with RSA 403-E:3.|||Source. 1999, 68:1, eff. May 28, 1999.|
NH Rev Stat § 403-E:5 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-E - Charitable Gift Annuities Exemption|Section 403-E:5 - Not Unfair or Deceptive Trade Practice.

    403-E:5 Not Unfair or Deceptive Trade Practice. –||The issuance of a qualified charitable gift annuity shall not constitute a violation of RSA 417.|||Source. 1999, 68:1, eff. May 28, 1999.|
NH Rev Stat § 403-F:1 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-F - Mutual Insurance Holding Companies|Section 403-F:1 - Authorization.

    403-F:1 Authorization. –||A mutual insurance company organized under the laws of this state may reorganize by converting to a stock insurance company and forming a mutual insurance holding company, upon compliance with the provisions of this chapter.|||Source. 2000, 247:1, eff. June 8, 2000.|
NH Rev Stat § 403-F:2 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-F - Mutual Insurance Holding Companies|Section 403-F:2 - Definitions.

    403-F:2 Definitions. –||In this chapter:||I. "Commissioner" means the insurance commissioner.||II. "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 reorganization by the board of directors pursuant to RSA 403-F:4, II or, with respect to a mutual life insurance company, such policyholders defined in the plan of reorganization approved by the commissioner.||III. "Mutual insurance holding company" means an incorporated entity without permanent capital stock that is organized under this chapter.||IV. "Subsidiary insurance company" means a stock insurance company, the majority of the voting shares of the capital stock of which are at all times owned, directly or through an intermediate holding company, by a mutual insurance holding company.||V. "Intermediate holding company" means a holding company which is a subsidiary of a mutual insurance holding company, and which directly or through a subsidiary intermediate holding company owns a majority of the voting shares of the capital stock of one or more subsidiary insurance companies.|||Source. 2000, 247:1, eff. June 8, 2000.|
NH Rev Stat § 403-F:3 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-F - Mutual Insurance Holding Companies|Section 403-F:3 - Formation of a Mutual Insurance Holding Company.

    403-F:3 Formation of a Mutual Insurance Holding Company. –||I. A mutual insurance company may reorganize as a mutual insurance holding company system consisting of a mutual insurance holding company and a subsidiary insurance company. The reorganization may be effected by the organization of one or more companies, amendment or restatement of the articles of incorporation and bylaws of one or more companies, transfer of assets and liabilities among 2 or more companies, issuance, acquisition or transfer of capital stock of one or more companies, or merger or consolidation of 2 or more companies. The mutual insurance holding company shall at all times own a majority of the voting shares and a majority in economic value of the capital stock of each controlled subsidiary and any intermediate stock holding company.||II. All of the initial shares of the capital stock of the insurance company which reorganized as a subsidiary insurance company shall be issued either to the mutual insurance holding company or to an intermediate holding company which is wholly owned by the mutual insurance holding company. This restriction shall not preclude the subsequent issuance of additional shares of stock by the subsidiary insurance company so long as the requirements of paragraph I are not violated. The membership interests of the policyholders of the subsidiary insurance company shall become membership interests in the mutual insurance holding company. Policyholders of the subsidiary insurance company which was formerly the mutual insurer shall be members of the mutual insurance holding company in accordance with the articles of incorporation and bylaws of the mutual insurance holding company.|||Source. 2000, 247:1, eff. June 8, 2000.|
NH Rev Stat § 403-F:6 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-F - Mutual Insurance Holding Companies|Section 403-F:6 - Issuance of Shares to Officers, Directors, and Employees.

    403-F:6 Issuance of Shares to Officers, Directors, and Employees. –||A number of shares or options to purchase shares equal in the aggregate to 5 percent of the outstanding voting shares of the capital stock of one corporate member of the mutual insurance holding company system selected by the mutual insurance holding company may be issued or sold to directors and officers as part of a plan of compensation, and such shares shall not be considered part of the majority shares to be owned by the mutual insurance company under RSA 403-F:3. A number of shares or options to purchase shares equal in the aggregate to an additional 5 percent of the outstanding voting shares of the capital stock of one corporate member of the mutual insurance holding company system selected by the mutual insurance holding company may be issued or sold to employees, which may not include any officer or director, as part of an employee stock dividend or benefit plan, and such shares shall not be considered part of the majority shares to be owned by the mutual insurance company under RSA 403-F:3. Prior to issuance of shares or options to purchase shares in excess of the authorized 5 percent to either officers and directors or employees, the commissioner may require a fairness opinion by an independent authority acceptable to the commissioner to assure that the long term interests of the shareholders and policyholders are adequately protected. The commissioner shall approve or disapprove the issuance of such shares within 30 days after receipt of the fairness opinion. Directors and officers shall be prohibited from purchasing shares of stock, whether or not part of a plan of compensation, for a period of 6 months following any initial public offering of such shares.|||Source. 2000, 247:1, eff. June 8, 2000.|
NH Rev Stat § 403-F:7 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-F - Mutual Insurance Holding Companies|Section 403-F:7 - Applicability of General Corporation Statutes.

    403-F:7 Applicability of General Corporation Statutes. –||A mutual insurance holding company organized under this chapter shall be subject to only those provisions of the laws relating to corporations in general that are not inconsistent with the provisions of title XXXVII, the insurance code.|||Source. 2000, 247:1, eff. June 8, 2000.|
NH Rev Stat § 403-F:8 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 403-F - Mutual Insurance Holding Companies|Section 403-F:8 - Merger.

    403-F:8 Merger. –||Subject to applicable requirements of this chapter, a mutual insurance holding company may merge or consolidate with a mutual insurance holding company licensed pursuant to this chapter or any similar entity organized pursuant to the laws of any other state.|||Source. 2000, 247:1, eff. June 8, 2000.|