reglab/housing_qa huggingface dataset:
NH Rev Stat § 402-C:19 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 402-C - Insurers Rehabilitation and Liquidation|Section 402-C:19 - Termination of Rehabilitation.

    402-C:19 Termination of Rehabilitation. –||I. Transformation to Liquidation. Whenever he believes that further attempts to rehabilitate an insurer would substantially increase the risk of loss to creditors, policyholders, or the public, or would be futile, the rehabilitator may petition the court for an order of liquidation. A petition under this subsection shall have the same effect as a petition under RSA 402-C:20. The court shall permit the directors to defend against the petition and shall order payment from the estate of the insurer of such costs and other expenses of defense as justice requires.||II. Order to Return to Company. The rehabilitator may at any time petition the court for an order terminating rehabilitation of an insurer. If the court finds that rehabilitation has been accomplished and that grounds for rehabilitation under RSA 402-C:15 no longer exist, it shall order that the insurer be restored to possession of its property and the control of its business. The court may also make that finding and issue that order at any time upon its own motion.|||Source. 1969, 272:1, eff. June 23, 1969.|
NH Rev Stat § 402-C:20 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 402-C - Insurers Rehabilitation and Liquidation|Section 402-C:20 - Grounds for Liquidation.

    402-C:20 Grounds for Liquidation. –||The commissioner may apply by verified petition to the superior court for Merrimack county or for the county in which the principal office of the insurer is located for an order directing him to liquidate a domestic insurer or an alien insurer domiciled in this state on any one or more of the following grounds:||I. Any ground on which he may apply for an order of rehabilitation under RSA 402-C:15 whenever he believes that attempts to rehabilitate the insurer would substantially increase the risk of loss to its creditors, its policyholders or the public, or would be futile, or that rehabilitation would serve no useful purpose;||II. That the insurer is or is about to become insolvent;||III. That the insurer is engaging in a systematic practice of reaching settlements with and obtaining releases from policyholders or third party claimants and then unreasonably delaying payment of or failing to pay the agreed upon settlements;||IV. That the insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors or the public;||V. That the insurer has not transacted the business of insurance during the previous 12 months or has transacted only a token insurance business during that period, although authorized to do so throughout that period, or that more than 12 months after incorporation it has failed to become authorized to do an insurance business;||VI. That within the previous 12 months the insurer has systematically attempted to compromise with its creditors on the ground that it is financially unable to pay its claims in full;||VII. That the insurer has commenced, or within the previous year has attempted to commence, voluntary liquidation otherwise than under the insurance laws of this state;||VIII. That the insurer has concealed records or assets from the commissioner or improperly removed them from the jurisdiction;||IX. That the insurer does not satisfy the requirements that would be applicable if it were seeking initial authorization to do an insurance business in this state, except for:||(a) Requirements that are intended to apply only at the time the initial authorization to do business is obtained, and not thereafter; and||(b) Requirements that are expressly made inapplicable by the laws establishing the requirements;||X. That the holders of 2/3 of the shares entitled to vote, or 2/3 of the members or policyholders entitled to vote in an insurer controlled by its members or policyholders, have consented to a petition.|||Source. 1969, 272:1, eff. June 23, 1969.|
NH Rev Stat § 402-C:22 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 402-C - Insurers Rehabilitation and Liquidation|Section 402-C:22 - Continuance of Coverage.

    402-C:22 Continuance of Coverage. –||I. All insurance policies issued by the insurer shall continue in force:||(a) For a period of 30 days from the date of entry of the liquidation order;||(b) Until the normal expiration of the policy coverage;||(c) Until the insured has replaced the insurance coverage with equivalent insurance in another insurer; or||(d) Until the liquidator has effected a transfer of the policy obligation pursuant to RSA 402-C:25, VIII; whichever time is less.||II. If the coverage continued under this section is replaced by insurance that is not equivalent, the coverage continued under this section shall be excess coverage over the replacement policy to the extent of the deficiency. Claims arising during the continuation of coverage shall be treated as if they arose immediately before the petition for liquidation. Coverage under this section shall not satisfy any legal obligation of the insured to carry insurance protection, whether the obligation is created by law or by contract.|||Source. 1969, 272:1. 1991, 96:6, eff. Jan. 1, 1992.|
NH Rev Stat § 402-C:23 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 402-C - Insurers Rehabilitation and Liquidation|Section 402-C:23 - Dissolution of Insurer.

    402-C:23 Dissolution of Insurer. –||The commissioner may petition for an order dissolving the corporate existence of a domestic insurer or the United States branch of an alien insurer domiciled in this state at the time he applies for a liquidation order. If the court issues a liquidation order, it also shall order dissolution if the commissioner has petitioned for it. The court shall order dissolution of the corporation upon petition by the commissioner at any time after a liquidation order has been granted. If the dissolution has not previously occurred, it shall be effected by operation of law upon the discharge of the liquidator.|||Source. 1969, 272:1, eff. June 23, 1969.|
NH Rev Stat § 402-C:24 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 402-C - Insurers Rehabilitation and Liquidation|Section 402-C:24 - Federal Receivership.

    402-C:24 Federal Receivership. –||I. Petition for Federal Receiver. Whenever in the commissioner's opinion, liquidation of a domestic insurer or an alien insurer domiciled in this state would be facilitated by a federal receivership, and when any ground exists upon which the commissioner might petition the court for an order of rehabilitation or liquidation under RSA 402-C:15 or 20, or if an order of rehabilitation or liquidation has already been entered, the commissioner may request another commissioner or other willing resident of another state to petition any appropriate federal district court for the appointment of a federal receiver. The commissioner may intervene in any such action to support or oppose the petition, and may accept appointment as the receiver if he is so designated. So much of this chapter shall apply to the receivership as can be made applicable and is appropriate. Upon motion of the commissioner, the courts of this state shall relinquish all jurisdiction over the insurer for purposes of rehabilitation or liquidation.||II. Compliance With Federal Requirements. If the commissioner is appointed receiver under this section, he shall comply with any requirements necessary to give him title to and control over the assets and affairs of the insurer.|||Source. 1969, 272:1, eff. June 23, 1969.|
NH Rev Stat § 402-C:26 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 402-C - Insurers Rehabilitation and Liquidation|Section 402-C:26 - Notice to Creditors and Others.

    402-C:26 Notice to Creditors and Others. –||I. Notice Required.||(a) General Requirements. The liquidator shall give notice of the liquidation order as soon as possible by first class mail and either by telegram or telephone to the insurance commissioner of each jurisdiction in which the insurer is licensed to do business, by first class mail within this state and by airmail outside this state to all insurance agents having a duty under RSA 402-C:27, and by first class mail within this state and by airmail outside this state at the last known address to all persons known or reasonably expected to have claims against the insurer, including all policyholders. He also shall publish notice in a newspaper of general statewide circulation or in Merrimack county, the last publication to be not less than 3 months before the earliest deadline specified in the notice under paragraph III.||(b) Special Requirements. Notice to agents shall inform them of their duties under RSA 402-C:27 and inform them what information they must communicate to insureds. Notice to policyholders shall include notice of impairment and termination of coverage under RSA 402-C:22. When it is applicable, notice to policyholders shall include 1) notice of withdrawal of the insurer from the defense of any case in which the insured is interested and 2) notice of the right to file a claim under RSA 402-C:40.||(c) Reports and Further Notice. Within 15 days of the date of entry of the order, the liquidator shall report to the court what notice has been given. The court may order such additional notice as it deems appropriate.||II. Notice Respecting Claims Filing. Notice to potential claimants under paragraph I shall require claimants to file with the liquidator their claims together with proper proofs thereof under RSA 402-C:38 on or before a date the liquidator specifies in the notice, which shall be no less than 6 months nor more than one year after entry of the order, except that the liquidator need not require persons claiming cash surrender values or other investment values in life insurance and annuities to file a claim. The liquidator may specify different dates for the filing of different kinds of claims.||III. Notice Conclusive. If notice is given in accordance with this section, the distribution of the assets of the insurer under this chapter shall be conclusive with respect to all claimants, whether or not they received notice.|||Source. 1969, 272:1. 1975, 348:16, eff. Aug. 6, 1975.|
NH Rev Stat § 402-C:27 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 402-C - Insurers Rehabilitation and Liquidation|Section 402-C:27 - Duties of Agents.

    402-C:27 Duties of Agents. –||I. Written Notice. Every person who receives notice in the form prescribed in RSA 402-C:26 that an insurer which he represents as an independent agent is the subject of a liquidation order shall as soon as practicable give notice of the liquidation order. The notice shall be sent by first class mail to the last address contained in the agent's records to each policyholder or other person named in any policy issued through the agent by the company, if he has a record of the address of the policyholder or other person. A policy shall be deemed issued through an agent if the agent has a property interest in the expiration of the policy; or if the agent has had in his possession a copy of the declarations of the policy at any time during the life of the policy, except where the ownership of the expiration of the policy has been transferred to another. The written notice shall include the name and address of the insurer, the name and address of the agent, identification of the policy impaired and the nature of the impairment under RSA 402-C:22. Notice by a general agent satisfies the notice requirement for any agents under contract to him.||II. Sanctions. Any agent failing to give notice as required in paragraph I may be fined not more than $100 and may have his license suspended.||III. Oral Notice. So far as practicable, every insurance agent subject to paragraph I shall give immediate oral notice by telephone or otherwise, of the liquidation order to the same persons to whom he is obligated to give written notice. The oral notice shall include substantially the same information as the written notice.||IV. Unearned Premium Claims. It shall be the duty of each agent, subject to the provisions of this section, to prepare and file on forms prescribed by the liquidator or the association the claims for unearned premiums on behalf of the policyholders of the insolvent insurer for policies issued through said agent. Agents who fail to file valid claims of policyholders as required by this section shall be personally liable to the respective policyholders to whom the unearned premiums are due and owing by the insolvent insurer, but in no event shall the agent be liable to any individual policyholder for an amount more than said policyholder's unearned premium including unearned commission less the $50 deductible provision established under RSA 404-B:5, IV. Upon receipt of the unearned premium claims from the liquidator or the association, the agent shall promptly pay to each policyholder his just and proportionate share of said refund and in addition shall return to each policyholder the unearned commission due on each cancelled policy.|||Source. 1969, 272:1. 1975, 348:11, eff. Aug. 6, 1975.|
NH Rev Stat § 402-C:28 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 402-C - Insurers Rehabilitation and Liquidation|Section 402-C:28 - Actions by and Against Liquidator.

    402-C:28 Actions by and Against Liquidator. –||I. Termination of Actions Against Insurer by Order Appointing Liquidator. Upon issuance of any order appointing the commissioner liquidator of a domestic insurer or of an alien insurer domiciled in this state, all actions and all proceedings against the insurer whether in this state or elsewhere shall be abated and the liquidator shall not intervene in them, except as provided in this section. Whenever in the liquidator's judgment an action in this state has proceeded to a point where fairness or convenience would be served by its continuation to judgment, he may apply to the court for leave to defend or to be substituted for the insurer, and if the court gives him leave, the action shall not be abated. Whenever in the liquidator's judgment, protection of the estate of the insurer necessitates intervention in an action against the insurer that is pending outside this state, with approval of the court he may intervene in the action. The liquidator may defend any action in which he intervenes under this section at the expense of the estate of the insurer.||II. Statute of Limitations on Claims by Insurer. The liquidator may, within 2 years subsequent to the entry of an order for liquidation or within such further time as applicable law permits, institute an action or proceeding on behalf of the estate of the insurer upon any cause of action against which the period of limitation fixed by applicable law has not expired at the time of the filing of the petition upon which such order is entered. Where, by any agreement, a period of limitation is fixed for instituting a suit or proceeding upon any claim or for filing any claim, proof of claim, proof of loss, demand, notice or the like, or where in any proceeding, judicial or otherwise, a period of limitation is fixed, either in the proceeding or by applicable law, for taking any action, filing any claim or pleading or doing any act, and where in any such case the period had not expired at the date of the filing of the petition, the liquidator may, for the benefit of the estate, take any such action or do any such act, required of or permitted to the insurer, within a period of 60 days subsequent to the entry of an order for liquidation, or within such further period as is permitted by the agreement, or in the proceeding or by applicable law, or within such further period as is shown to the satisfaction of the court not to be unfairly prejudicial to the other party.||III. Statutes of Limitations on Claims Against Insurer. The time between the filing of a petition for liquidation against an insurer and the denial of the petition shall not be considered to be a part of the time within which any action may be commenced against the insurer. Any action against the insurer that might have been commenced when the petition was filed may be commenced for at least 60 days after the petition is denied.|||Source. 1969, 272:1, eff. June 23, 1969.|
NH Rev Stat § 402-C:31 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 402-C - Insurers Rehabilitation and Liquidation|Section 402-C:31 - Fraudulent Transfers After Petition.

    402-C:31 Fraudulent Transfers After Petition. –||I. Effect of Petition: Real Property. After a petition for rehabilitation or liquidation, a transfer of any of the real property of the insurer made to a person acting in good faith shall be valid against the receiver if made for a present fair equivalent value or, if not made for a present fair equivalent value, then to the extent of the present consideration actually paid therefor, for which amount the transferee shall have a lien on the property so transferred. The recording of a copy of the petition for or order of rehabilitation or liquidation with the register of deeds in the county where any real property in question is located is constructive notice of the commencement of a proceeding in rehabilitation or liquidation. The exercise by a court of the United States or any state of jurisdiction to authorize or effect a judicial sale of real property of the insurer within any county in any state shall not be impaired by the pendency of such a proceeding unless the copy is recorded in the county prior to the consummation of the judicial sale.||II. Effect of Petition: Personal Property. After a petition for rehabilitation or liquidation and before either the receiver takes possession of the property of the insurer or an order of rehabilitation or liquidation is granted:||(a) A transfer of any of the property of the insurer, other than real property, made to a person acting in good faith shall be valid against the receiver if made for a present fair equivalent value or, if not made for a present fair equivalent value, then to the extent of the present consideration actually paid therefor, for which amount the transferee shall have a lien on the property so transferred.||(b) A person indebted to the insurer or holding property of the insurer may, if acting in good faith, pay the indebtedness or deliver the property or any part thereof to the insurer or upon his order, with the same effect as if the petition were not pending.||(c) A person having actual knowledge of the pending rehabilitation or liquidation shall be deemed not to act in good faith unless he has reasonable cause to believe that the petition is not well founded.||(d) A person asserting the validity of a transfer under this section shall have the burden of proof. Except as elsewhere provided in this section, no transfer by or in behalf of the insurer after the date of the petition for liquidation by any person other than the liquidator shall be valid against the liquidator.||III. Negotiability. Nothing in this chapter shall impair the negotiability of currency or negotiable instruments.|||Source. 1969, 272:1, eff. June 23, 1969.|
NH Rev Stat § 402-C:33 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 402-C - Insurers Rehabilitation and Liquidation|Section 402-C:33 - Claims of Holders of Void or Voidable Rights.

    402-C:33 Claims of Holders of Void or Voidable Rights. –||I. Disallowance for Failure to Surrender Property. No claims of a creditor who has received or acquired a preference, lien, conveyance, transfer, assignment or encumbrance, voidable under this chapter, shall be allowed unless he surrenders the preference, lien, conveyance, transfer, assignment or encumbrance. If the avoidance is effected by a proceeding in which a final judgment has been entered, the claim shall not be allowed unless the money is paid or the property is delivered to the liquidator within 30 days from the date of the entering of the final judgment, except that the court having jurisdiction over the liquidation may allow further time if there is an appeal or other continuation of the proceeding.||II. Time for Filing. A claim allowable under paragraph I by reason of the avoidance, whether voluntary or involuntary, of a preference lien, conveyance, transfer, assignment or encumbrance may be filed as an excused late filing under RSA 402-C:37 if filed within 30 days from the date of the avoidance or within the further time allowed by the court under paragraph I.|||Source. 1969, 272:1, eff. June 23, 1969.|
NH Rev Stat § 402-C:34 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 402-C - Insurers Rehabilitation and Liquidation|Section 402-C:34 - Setoffs.

    402-C:34 Setoffs. –||I. Setoffs Allowed in General. Mutual debts or mutual credits between the insurer and another person in connection with any action or proceeding under this chapter shall be set off and the balance only shall be allowed or paid, except as provided in paragraph II.||II. Exceptions. No setoff shall be allowed in favor of any person where:||(a) The obligation of the insurer to the person would not at the date of the filing of a petition for liquidation entitle him to share as a claimant in the assets of the insurer;||(b) The obligation of the insurer to the person was purchased by or transferred to the person with a view to its being used as a setoff;||(c) The obligation of the person is to pay an assessment levied against the members or subscribers of the insurer, or is to pay a balance upon a subscription to the capital stock of the insurer, or is in any other way in the nature of a capital contribution; or||(d) [Repealed.]|||Source. 1969, 272:1. 2003, 218:1, 2, 4, eff. Aug. 30, 2003.|
NH Rev Stat § 402-C:36 (2021)
2021 New Hampshire Revised Statutes|Title XXXVII - Insurance|Title 402-C - Insurers Rehabilitation and Liquidation|Section 402-C:36 - Liability of Insurer.

    402-C:36 Liability of Insurer. –||The amount recoverable by the liquidator from a reinsurer shall not be reduced as a result of delinquency proceedings regardless of whether the reinsurance contract provides, in substance, that in the event of the insolvency of the ceding insurer, the reinsurance shall be payable by the assuming insurer on the basis of the claims allowed against the ceding insurer in the insolvency proceedings, under contract or contracts reinsured without diminution because of the insolvency of the ceding insurer. Such payments shall be made directly to the ceding insurer or to its domiciliary liquidator or receiver except:||I. Where the contract specifically provides another payee of such reinsurance in the event of the insolvency of the ceding insurer; or||II. Where the assuming insurer with the consent of the direct insured or insured has assumed such policy obligations of the ceding insurer as direct obligations of the assuming insurer to the payees under such policies and in substitution for the obligations of the ceding insurer to such payees.|||Source. 1969, 272:1. 2003, 218:3. 2005, 248:4, eff. Sept. 12, 2005.|