reglab/housing_qa huggingface dataset:
NH Rev Stat § 401-B:7 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 401-B - Insurance Holding Companies|Section 401-B:7 - Supervisory Colleges.

    401-B:7 Supervisory Colleges. –||I. Power of Commissioner. With respect to any insurer registered under RSA 401-B:4, and in accordance with paragraph III, the commissioner shall also have the power to participate in a supervisory college for any domestic insurer that is part of an insurance holding company system with international operations in order to determine compliance by the insurer with this chapter. The powers of the commissioner with respect to supervisory colleges include, but are not limited to, the following:||(a) Initiating the establishment of a supervisory college;||(b) Clarifying the membership and participation of other supervisors in the supervisory college;||(c) Clarifying the functions of the supervisory college and the role of other regulators, including the establishment of a group-wide supervisor;||(d) Coordinating the ongoing activities of the supervisory college, including planning meetings, supervisory activities, and processes for information sharing; and||(e) Establishing a crisis management plan.||II. Expenses. Each registered insurer subject to this section shall be liable for and shall pay the reasonable expenses of the commissioner's participation in a supervisory college in accordance with paragraph III, including reasonable travel expenses. For purposes of this section, a supervisory college may be convened as either a temporary or permanent forum for communication and cooperation between the regulators charged with the supervision of the insurer or its affiliates, and the commissioner may establish a regular assessment to the insurer for the payment of these expenses.||III. Supervisory College. In order to assess the business strategy, financial position, legal and regulatory position, risk exposure, risk management and governance processes, and as part of the examination of individual insurers in accordance with RSA 401-B:6, the commissioner may participate in a supervisory college with other regulators charged with supervision of the insurer or its affiliates, including other state, federal, and international regulatory agencies. The commissioner may enter into agreements in accordance with RSA 401-B:8, III providing the basis for cooperation between the commissioner and the other regulatory agencies, and the activities of the supervisory college. Nothing in this section shall delegate to the supervisory college the authority of the commissioner to regulate or supervise the insurer or its affiliates within its jurisdiction.|||Source. 2013, 152:1, eff. Jan. 1, 2014.|
NH Rev Stat § 401-B:9 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 401-B - Insurance Holding Companies|Section 401-B:9 - Rules and Orders.

    401-B:9 Rules and Orders. –||The commissioner may, upon notice and opportunity for all interested persons to be heard, issue such rules and orders as shall be necessary to carry out the provisions of this chapter. To assist in the review of any transaction, or to otherwise determine compliance with this chapter, the commissioner may retain, without appropriation under RSA 9 and without qualifying as a department expenditure under RSA 4:15, attorneys, appraisers, independent actuaries, independent certified public accountants, or other professionals and specialists, the cost of which shall be borne by the company subject to such review. The company shall pay the retained professional or specialists directly for their costs. The commissioner shall conduct oversight of such independent reviewers in a manner that is consistent with standards for the use of independent reviewers established by the National Association of Insurance Commissioners in its Financial Condition Examiners Handbook and Market Regulation Handbook and shall ensure that costs are reasonable for the work performed.|||Source. 2013, 152:1. 2017, 218:6, eff. July 10, 2017.|
NH Rev Stat § 401-B:12 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 401-B - Insurance Holding Companies|Section 401-B:12 - Receivership.

    401-B:12 Receivership. –||Whenever it appears to the commissioner that any person has committed a violation of this chapter which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders, or the public, the commissioner may proceed as provided in RSA 402-C to take possession of the property of such domestic insurer and to conduct its business.|||Source. 2013, 152:1, eff. Jan. 1, 2014.|
NH Rev Stat § 401-B:13 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 401-B - Insurance Holding Companies|Section 401-B:13 - Recovery.

    401-B:13 Recovery. –||I. If an order for liquidation or rehabilitation of a domestic insurer has been entered, the receiver appointed under the order shall have a right to recover on behalf of the insurer:||(a) From any parent corporation or holding company or person or affiliate who otherwise controlled the insurer, the amount of distributions (other than distributions of shares of the same class of stock) paid by the insurer on its capital stock; or||(b) Any payment in the form of a bonus, termination settlement, or extraordinary lump sum salary adjustment made by the insurer or its subsidiary to a director, officer or employee, where the distribution or payment pursuant to subparagraphs (a) or (b) is made at any time during the one year preceding the petition for liquidation, conservation or rehabilitation, as the case may be, subject to the limitations of paragraphs II-IV.||II. No distribution shall be recoverable if the parent or affiliate shows that when paid the distribution was lawful and reasonable, and that the insurer did not know and could not reasonably have known that the distribution might adversely affect the ability of the insurer to fulfill its contractual obligations.||III. Any person who was a parent corporation or holding company or a person who otherwise controlled the insurer or affiliate at the time the distributions were paid shall be liable up to the amount of distributions or payments under paragraph I which the person received. Any person who otherwise controlled the insurer at the time the distributions were declared shall be liable up to the amount of distributions that would have been received if they had been paid immediately. If 2 or more persons are liable with respect to the same distributions, they shall be jointly and severally liable.||IV. The maximum amount recoverable under this section shall be the amount needed in excess of all other available assets of the impaired or insolvent insurer to pay the contractual obligations of the impaired or insolvent insurer and to reimburse any guaranty funds.||V. To the extent that any person liable under paragraph III is insolvent or otherwise fails to pay claims due from it, its parent corporation or holding company or person who otherwise controlled it at the time the distribution was paid shall be jointly and severally liable for any resulting deficiency in the amount recovered from the parent corporation or holding company or person who otherwise controlled it.|||Source. 2013, 152:1, eff. Jan. 1, 2014.|
NH Rev Stat § 401-B:14 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 401-B - Insurance Holding Companies|Section 401-B:14 - Revocation, Suspension, or Nonrenewal of Insurer's License.

    401-B:14 Revocation, Suspension, or Nonrenewal of Insurer's License. –||Whenever it appears to the commissioner that any person has committed a violation of this chapter which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the commissioner may, after giving notice and opportunity to be heard, suspend, revoke or refuse to renew the insurer's license or authority to do business in this state for such period as the commissioner finds is required for the protection of policyholders or the public. Any such determination shall be accompanied by specific findings of fact and conclusions of law.|||Source. 2013, 152:1, eff. Jan. 1, 2014.|
NH Rev Stat § 401-B:15 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 401-B - Insurance Holding Companies|Section 401-B:15 - Appeal.

    401-B:15 Appeal. –||I. Judicial Review, Mandamus. Any person aggrieved by any act, determination, rule, regulation, or order of any other action of the commissioner pursuant to this chapter may appeal in accordance with RSA 541. The court shall conduct its review without a jury and by trial de novo, except that if all parties, including the commissioner, so stipulate, the review shall be confined to the record. Portions of the record may be introduced by stipulation into evidence in a trial de novo as to those parties so stipulating.||II. The filing of an appeal pursuant to this section shall stay the application of any rule, regulation, order, or other action by the commissioner to the appealing party unless the court, after giving the party notice and an opportunity to be heard, determines that a stay would be detrimental to the interest of policyholders, shareholders, creditors or the public.||III. Any person aggrieved by any failure of the commissioner to act or make a determination required by this chapter may petition the Merrimack county superior court for a writ of mandamus or a peremptory mandamus directing the commissioner to act or make a determination.|||Source. 2013, 152:1, eff. Jan. 1, 2014.|
NH Rev Stat § 401-B:16 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 401-B - Insurance Holding Companies|Section 401-B:16 - Time Limits for Agency Action.

    401-B:16 Time Limits for Agency Action. –||The time limits specified in this chapter for the commissioner to act on any holding company application, petition, or request and the provisions in this chapter under which an application, petition, or request may or may not be deemed to be approved when the commissioner does not act after a specified period of time shall control, and RSA 541-A:29 and RSA 541-A:29-a shall not apply.|||Source. 2018, 279:21, eff. Jan. 1, 2019.|
NH Rev Stat § 401-C:1 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 401-C - Own Risk and Solvency Assessment|Section 401-C:1 - Purpose and Scope.

    401-C:1 Purpose and Scope. –||I. The purpose of this chapter is to provide the requirements for maintaining a risk management framework and completing Own Risk and Solvency Assessment (ORSA) and provide guidance and instructions for filing an ORSA summary report with the insurance commissioner of this state.||II. The requirements of this chapter shall apply to all insurers domiciled in this state unless exempt pursuant to RSA 401-C:6.||III. The general court finds and declares that the ORSA summary report will contain confidential and sensitive information related to an insurer or insurance group's identification of risks material and relevant to the insurer or insurance group filing the report. This information will include proprietary and trade secret information that has the potential for harm and competitive disadvantage to the insurer or insurance group if the information is made public. It is the intent of this chapter that the ORSA summary report shall be a confidential document filed with the commissioner, that the ORSA summary report will be shared only as stated in this chapter and to assist the commissioner in the performance of his or her duties, and that in no event shall the ORSA summary report be subject to public disclosure.|||Source. 2013, 152:2, eff. Jan. 1, 2015.|
NH Rev Stat § 401-C:2 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 401-C - Own Risk and Solvency Assessment|Section 401-C:2 - Definitions.

    401-C:2 Definitions. –||In this chapter:||I. For the purpose of conducting an ORSA, "insurance group" means those insurers and affiliates included within an insurance holding company system as defined in RSA 401-B.||II. "Insurer" shall have the same meaning as set forth in RSA 401-C:2, except that it shall not include agencies, authorities, or instrumentalities of the United States, its possessions and territories, the Commonwealth of Puerto Rico, the District of Columbia, or a state or political subdivision of a state.||III. "Own risk and solvency assessment" or "ORSA" means a confidential internal assessment, appropriate to the nature, scale, and complexity of an insurer or insurance group, conducted by that insurer or insurance group of the material and relevant risks associated with the insurer or insurance group's current business plan, and the sufficiency of capital resources to support those risks.||IV. "ORSA guidance manual" means the current version of the Own Risk and Solvency Assessment Guidance Manual developed and adopted by the National Association of Insurance Commissioners (NAIC) and as amended from time to time. A change in the ORSA guidance manual shall be effective on the January 1 following the calendar year in which the changes have been adopted by the NAIC.||V. "ORSA summary report" means a confidential high-level summary of an insurer or insurance group's ORSA.|||Source. 2013, 152:2, eff. Jan. 1, 2015.|
NH Rev Stat § 401-C:3 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 401-C - Own Risk and Solvency Assessment|Section 401-C:3 - Risk Management Framework.

    401-C:3 Risk Management Framework. –||An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting on its material and relevant risks. This requirement may be satisfied if the insurance group of which the insurer is a member maintains a risk management framework applicable to the operations of the insurer.|||Source. 2013, 152:2, eff. Jan. 1, 2015.|
NH Rev Stat § 401-C:4 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 401-C - Own Risk and Solvency Assessment|Section 401-C:4 - ORSA Requirement.

    401-C:4 ORSA Requirement. –||Subject to RSA 401-C:6, an insurer, or the insurance group of which the insurer is a member, shall regularly conduct an ORSA consistent with a process comparable to the ORSA guidance manual. The ORSA shall be conducted no less than annually but also at any time when there are significant changes to the risk profile of the insurer or the insurance group of which the insurer is a member.|||Source. 2013, 152:2, eff. Jan. 1, 2015.|
NH Rev Stat § 401-C:5 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 401-C - Own Risk and Solvency Assessment|Section 401-C:5 - ORSA Summary Report.

    401-C:5 ORSA Summary Report. –||I. Upon the commissioner's request, and no more than once each year, an insurer shall submit to the commissioner an ORSA summary report or any combination of reports that together contain the information described in the ORSA guidance manual, applicable to the insurer and/or the insurance group of which it is a member. Notwithstanding any request from the commissioner, if the insurer is a member of an insurance group, the insurer shall submit the report or reports required by this section if the commissioner is the lead state commissioner of the insurance group as determined by the procedures within the Financial Analysis Handbook adopted by the National Association of Insurance Commissioners.||II. The report shall include a signature of the insurer or insurance group's chief risk officer or other executive having responsibility for the oversight of the insurer's enterprise risk management process attesting to the best of his or her belief and knowledge that the insurer applies the enterprise risk management process described in the ORSA summary report and that a copy of the report has been provided to the insurer's board of directors or the appropriate committee thereof.||III. An insurer may comply with paragraph I by providing the most recent and substantially similar reports provided by the insurer or another member of an insurance group of which the insurer is a member to the commissioner of another state or to a supervisor or regulator of a foreign jurisdiction, if that report provides information that is comparable to the information described in the ORSA guidance manual. Any such report in a language other than English shall be accompanied by a translation of that report into the English language.|||Source. 2013, 152:2, eff. Jan. 1, 2015.|
NH Rev Stat § 401-C:7 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 401-C - Own Risk and Solvency Assessment|Section 401-C:7 - Contents of ORSA Summary Report.

    401-C:7 Contents of ORSA Summary Report. –||I. The ORSA summary report shall be prepared consistent with the ORSA guidance manual subject to the requirements of paragraph II. Documentation and supporting information shall be maintained and made available upon examination or upon request of the commissioner.||II. The review of the ORSA summary report, and any additional requests for information, shall be made using similar procedures currently used in the analysis and examination of multi-state or global insurers and insurance groups. To assist in the review of ORSA summary reports, the commissioner may retain, without appropriation under RSA 9 and without qualifying as a department expenditure under RSA 4:15, attorneys, appraisers, independent actuaries, independent certified public accountants, or other professionals and specialists, the cost of which shall be borne by the company subject to such review. The company shall pay the retained professional or specialists directly for their costs. The commissioner shall conduct oversight of such independent reviewers in a manner that is consistent with standards for the use of independent reviewers established by the National Association of Insurance Commissioners in its Financial Condition Examiners Handbook and Market Regulation Handbook and shall ensure that costs are reasonable for the work performed. The amount paid by the company under this paragraph in any fiscal year shall be applied as a nontransferable credit against the company's administrative fee under RSA 400-A:39 in the subsequent fiscal year and shall carry forward in future fiscal years as applicable.|||Source. 2013, 152:2. 2017, 218:7, eff. July 10, 2017.|
NH Rev Stat § 401-C:9 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 401-C - Own Risk and Solvency Assessment|Section 401-C:9 - Sanctions.

    401-C:9 Sanctions. –||Any insurer failing, without just cause, to timely file the ORSA summary report 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 and the penalty so recovered shall be paid into the general revenue fund of this state. 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.|||Source. 2013, 152:2, eff. Jan. 1, 2015.|
NH Rev Stat § 401-C:10 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 401-C - Own Risk and Solvency Assessment|Section 401-C:10 - Severability Clause.

    401-C:10 Severability Clause. –||If any provision of this chapter, or the application thereof to any person or circumstance, is held invalid, such invalidity shall not affect other provisions or applications of the chapter which can be given effect without the invalid provisions or applications, and to that end the provisions of this chapter are severable.|||Source. 2013, 152:2, eff. Jan. 1, 2015.|
NH Rev Stat § 401-D:1 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 401-D - Corporate Governance Annual Disclosure Act|Section 401-D:1 - Purpose and Scope.

    401-D:1 Purpose and Scope. –||I. The purpose of this chapter is to:||(a) Provide the insurance commissioner with a summary of an insurer or insurance group's corporate governance structure, policies and practices to permit the commissioner to gain and maintain an understanding of the insurer's corporate governance framework.||(b) Outline the requirements for completing a corporate governance annual disclosure with the insurance commissioner.||(c) Provide for the confidential treatment of the corporate governance annual disclosure and related information that will contain confidential and sensitive information related to an insurer or insurance group's internal operations and proprietary and trade secret information which, if made public, could potentially cause the insurer or insurance group competitive harm or disadvantage.||II. Nothing in this chapter shall be construed to prescribe or impose corporate governance standards and internal procedures beyond that which is required under applicable state corporate law. Nothing in this chapter shall be construed to limit the commissioner's authority, or the rights or obligations of third parties, under RSA 400-A:37.||III. The requirements of this chapter shall apply to all insurers domiciled in this state.|||Source. 2016, 316:1, eff. Jan. 1, 2017. 2018, 36:1, eff. May 15, 2018.|
NH Rev Stat § 401-D:2 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 401-D - Corporate Governance Annual Disclosure Act|Section 401-D:2 - Definitions.

    401-D:2 Definitions. –||In this chapter:||I. "Commissioner" means the insurance commissioner.||II. "Corporate governance annual disclosure" or "CGAD" means a confidential report filed by the insurer or insurance group made in accordance with the requirements of this chapter.||III. "Insurance group" means those insurers and affiliates included with an insurance holding company system as defined in RSA 401-B.||IV. "Insurer" shall have the same meaning as set forth in RSA 401-B:3-a, I(b) except that it shall not include agencies, authorities, or instrumentalities of the United States, its possessions and territories, the Commonwealth of Puerto Rico, the District of Columbia, or a state or political subdivision of a state.||V. "NAIC" means the National Association of Insurance Commissioners.||VI. "ORSA summary report" means the report filed in accordance with RSA 401-C.|||Source. 2016, 316:1, eff. Jan. 1, 2017.|