reglab/statecodes huggingface dataset:
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-D - New Hampshire Life and Health Insurance Guaranty Association › Section 404-D:5 - Definitions.

404-D:5 Definitions. –
As used in this chapter:
I. "Account" means any of the 3 accounts created under RSA 404-D:6.
II. "Association" means the New Hampshire life and health insurance guaranty association created under RSA 404-D:6.
III. "Commissioner" means the commissioner of insurance.
IV. "Contractual obligation" means any obligation under covered policies.
V. "Covered policy" means any policy or contract within the scope of RSA 404-D:3.
VI. "Impaired insurer" means:
(a) An insurer which after the effective date of this chapter, is declared insolvent and placed under a final order of liquidation, rehabilitation, or conservation by a court of competent jurisdiction, or
(b) An insurer deemed by the commissioner after the effective date of this chapter to be unable to fulfill its contractual obligations.
VII. "Member insurer" means any person authorized to transact in this state any kind of insurance to which this chapter applies under RSA 404-D:3.
VIII. "Premiums" means direct gross insurance premiums and annuity considerations written on covered policies, less return premiums and considerations thereon and dividends paid or credited to policyholders on such direct business. "Premiums" do not include premiums and considerations on contracts between insurers and reinsurers. As used in RSA 404-D:9, "premiums" are those for the calendar year preceding the determination of impairment.
IX. "Person" means any individual, corporation, partnership, association or voluntary organization.
X. "Resident" means any person who resides in this state at the time the impairment is determined and to whom contractual obligations are owed.
Source.
1971, 509:1, eff. Sept. 4, 1971.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-D - New Hampshire Life and Health Insurance Guaranty Association › Section 404-D:6 - Creation of the Association.

404-D:6 Creation of the Association. –
I. There is created a nonprofit legal entity to be known as the New Hampshire life and health insurance guaranty association. All member insurers shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under the plan of operation established and approved under RSA 404-D:10 and shall exercise its powers through a board of directors established under RSA 404-D:7. For purposes of administration and assessment, the association shall maintain 3 accounts:
(a) The health insurance account;
(b) The life insurance account; and
(c) The annuity account.
II. The association shall come under the immediate supervision of the commissioner and shall be subject to the applicable provisions of the insurance laws of this state.
Source.
1971, 509:1, eff. Sept. 4, 1971.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-D - New Hampshire Life and Health Insurance Guaranty Association › Section 404-D:7 - Board of Directors.

404-D:7 Board of Directors. –
I. The board of directors of the association shall consist of not less than 5 nor more than 9 members serving terms as established in the plan of operation. The members of the board shall be selected by member insurers subject to the approval of the commissioner. Vacancies on the board shall be filled for the remaining period of the term in the manner described in the plan of operation. To select the initial board of directors, and initially organize the association, the commissioner shall give notice to all member insurers of the time and place of the organizational meeting. In determining voting rights at the organizational meeting each member insurer shall be entitled to one vote in person or by proxy. If the board of directors is not selected within 60 days after notice of the organizational meeting, the commissioner may appoint the initial members.
II. In approving selections or in appointing members to the board, the commissioner shall consider, among other things, whether all member insurers are fairly represented.
III. Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board of directors but members of the board shall not otherwise be compensated by the association for their services.
Source.
1971, 509:1, eff. Sept. 4, 1971.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-D - New Hampshire Life and Health Insurance Guaranty Association › Section 404-D:10 - Plan of Operation.

404-D:10 Plan of Operation. –
I. A plan of operation shall be established as follows:
(a) The association shall submit to the commissioner a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the association. The plan of operation and any amendments thereto shall become effective upon approval in writing by the commissioner.
(b) If the association fails to submit a suitable plan of operation within 180 days following the effective date of this chapter or if at any time thereafter the association fails to submit suitable amendments to the plan, the commissioner shall, after notice and hearing, adopt and promulgate such reasonable rules as are necessary or advisable to effectuate the provisions of this chapter. Such rules shall continue in force until modified by the commissioner or superseded by a plan submitted by the association and approved by the commissioner.
II. All member insurers shall comply with the plan of operation.
III. The plan of operation shall, in addition to requirements enumerated elsewhere in this chapter:
(a) Establish procedures for handling the assets of the association.
(b) Establish the amount and method of reimbursing members of the board of directors under RSA 404-D:7.
(c) Establish regular places and times for meetings of the board of directors.
(d) Establish procedures for records to be kept of all financial transactions of the association, its agents, and the board of directors.
(e) Establish the procedures whereby selections for the board of directors will be made and submitted to the commissioner.
(f) Establish any additional procedures for assessments under RSA 404-D:9.
(g) Contain additional provisions necessary or proper for the execution of the powers and duties of the association.
IV. The plan of operation may provide that any or all powers and duties of the association, except those under RSA 404-D:8, XI(c) and RSA 404-D:9, are delegated to a corporation, association, or other organization which performs or will perform functions similar to those of this association, or its equivalent, in 2 or more states. Such a corporation, association, or organization shall be reimbursed for any payments made on behalf of the association and shall be paid for its performance of any function of the association. A delegation under this paragraph shall take effect only with the approval of both the board of directors and the commissioner, and may be made only to a corporation, association, or organization which extends protection not substantially less favorable and effective than that provided by this chapter.
Source.
1971, 509:1, eff. Sept. 4, 1971.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-D - New Hampshire Life and Health Insurance Guaranty Association › Section 404-D:11 - Duties and Powers of the Commissioner.

404-D:11 Duties and Powers of the Commissioner. –
In addition to the duties and powers enumerated elsewhere in this chapter,
I. The commissioner shall:
(a) Notify the board of directors of the existence of an impaired insurer not later than 3 days after a determination of impairment is made or he receives notice of impairment.
(b) Upon request of the board of directors, provide the association with a statement of the premiums in the appropriate states for each member insurer.
(c) When an impairment is declared and the amount of the impairment is determined, serve a demand upon the impaired insurer to make good the impairment within a reasonable time. Notice to the impaired insurer shall constitute notice to its shareholders, if any. The failure of the insurer to promptly comply with such demand shall not excuse the association from the performance of its powers and duties under this chapter.
(d) In any liquidation or rehabilitation proceeding involving a domestic insurer, be appointed as the liquidator or rehabilitator. If a foreign or alien member insurer is subject to a liquidation proceeding in its domiciliary jurisdiction or state of entry, the commissioner may be appointed conservator.
II. The commissioner may suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any member insurer which fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative the commissioner may levy a forfeiture on any member insurer which fails to pay an assessment when due. Such forfeiture shall not exceed 5 percent of the unpaid assessment per month, but no forfeiture shall be less than $100 per month.
III. Any action of the board of directors or the association may be appealed to the commissioner by any member insurer if such appeal is taken within 30 days of the action being appealed. Any final action or order of the commissioner shall be subject to judicial review pursuant to RSA 541.
IV. The liquidator, rehabilitator, or conservator or any impaired insurer may notify all interested persons of the effect of this chapter.
Source.
1971, 509:1, eff. Sept. 4, 1971.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-D - New Hampshire Life and Health Insurance Guaranty Association › Section 404-D:12 - Prevention of Impairments.

404-D:12 Prevention of Impairments. –
To aid in the detection and prevention of insurer impairments, the commissioner shall be notified when:
I. The board of directors shall, upon majority vote, notify the commissioner of any information indicating any member insurer may be unable or potentially unable to fulfill its contractual obligations.
II. The board of directors may, upon majority vote, request that the commissioner order an examination of any member insurer which the board in good faith believes may be unable or potentially unable to fulfill its contractual obligations. The commissioner may conduct such examination. The examination may be conducted as a national association of insurance commissioners examination or may be conducted by such persons as the commissioner designates. The cost of such examination shall be paid by the association and the examination report shall be treated as are other examination reports. In no event shall such examination report be released to the board of directors of the association prior to its release to the public, but this shall not excuse the commissioner from his obligation to comply with paragraph III. The commissioner shall notify the board of directors when the examination is completed. The request for an examination shall be kept on file by the commissioner but it shall not be open to public inspection prior to the release of the examination report to the public and shall be released at that time only if the examination discloses that the examined insurer is unable or potentially unable to meet its contractual obligations.
III. The commissioner shall report to the board of directors when he has reasonable cause to believe that any member or licensed insurer may be unable or potentially unable to fulfill its contractual obligations.
IV. The board of directors may, upon majority vote, make reports and recommendations to the commissioner upon any matter germane to the solvency, liquidation, rehabilitation or conservation of any member insurer. Such reports and recommendations shall not be subject to RSA 91-A.
V. The board of directors may, upon majority vote, make recommendations to the commissioner for the detection and prevention of insurer impairments.
VI. The board of directors shall, at the conclusion of any insurer impairment in which the association carried out its duties under this chapter or exercised any of its powers under this chapter, prepare a report on the history and causes of such impairment, based on the information available to the association, and submit such report to the commissioner.
Source.
1971, 509:1, eff. Sept. 4, 1971.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-D - New Hampshire Life and Health Insurance Guaranty Association › Section 404-D:13 - Appointment of Association Nominee.

404-D:13 Appointment of Association Nominee. –
The association may recommend a natural person to serve as a special deputy to act for the commissioner and under his supervision in the liquidation, rehabilitation, or conservation, of any member insurer.
Source.
1971, 509:1, eff. Sept. 4, 1971.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-D - New Hampshire Life and Health Insurance Guaranty Association › Section 404-D:15 - Examination of the Association; Annual Report.

404-D:15 Examination of the Association;  Annual Report. –
The association shall be subject to examination and regulation by the commissioner. The board of directors shall submit to the commissioner, not later than May 1 of each year, a financial report for the preceding calendar year in a form approved by the commissioner and a report of its activities during the preceding calendar year.
Source.
1971, 509:1, eff. Sept. 4, 1971.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-D - New Hampshire Life and Health Insurance Guaranty Association › Section 404-D:16 - Tax Exemptions.

404-D:16 Tax Exemptions. –
The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real property.
Source.
1971, 509:1, eff. Sept. 4, 1971.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-D - New Hampshire Life and Health Insurance Guaranty Association › Section 404-D:17 - Immunity.

404-D:17 Immunity. –
There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer or its agents or employees, the association or its agents or employees, members of the board of directors, or the commissioner or his representatives, for any action taken by them in the performance of their powers and duties under this chapter.
Source.
1971, 509:1, eff. Sept. 4, 1971.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-D - New Hampshire Life and Health Insurance Guaranty Association › Section 404-D:18 - Stay of Proceedings; Reopening Default Judgments.

404-D:18 Stay of Proceedings;  Reopening Default Judgments. –
All proceedings in which the impaired insurer is a party in any court in this state shall be stayed 60 days from the date an order of liquidation, rehabilitation, or conservation is final to permit proper legal action by the association on any matters germane to its powers or duties. As to a judgment under any decision, order, verdict, or finding based on default the association may apply to have such judgment set aside by the same court that made such judgment and shall be permitted to defend against such suit on the merits.
Source.
1971, 509:1, eff. Sept. 4, 1971.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-F - Risk-Based Capital (Rbc) for Insurers › Section 404-F:1 - Definitions.

404-F:1 Definitions. –
In this chapter:
I. "Adjusted RBC report" means an RBC report which has been adjusted by the commissioner in accordance with RSA 404-F:2, V.
II. "Corrective order" means an order issued by the commissioner specifying corrective actions which the commissioner has determined are required.
III. "Domestic insurer" means any insurance company domiciled in this state.
IV. "Foreign insurer" means any insurance company which is licensed to do business in this state under title XXXVII but is not domiciled in this state.
IV-a. "Health organization" means a health maintenance organization, limited health service organization, dental or vision plan, health service corporation, or other managed care organization licensed under title XXXVII.
V. "NAIC" means the National Association of Insurance Commissioners.
VI. "Life and/or health insurer" means any insurance company licensed under title XXXVII writing life, accident and health insurance or a licensed property and casualty insurer writing only accident and health insurance.
VII. "Property and casualty insurer" means any insurance company licensed under title XXXVII but shall not include monoline mortgage guaranty insurers, financial guaranty insurers, and title insurers.
VIII. "Negative trend" means, with respect to a life and/or health insurer, negative trend over a period of time, as determined in accordance with the "trend test calculation" included in the RBC instructions.
IX. "RBC instructions" means the RBC report including risk-based capital instructions adopted by the NAIC, as such RBC instructions may be amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC.
X. "RBC level" means an insurer's company action level RBC, regulatory action level RBC, authorized control level RBC, or mandatory control level RBC where:
(a) "Company action level RBC" means, with respect to any insurer, the product of 2.0 and its authorized control level RBC;
(b) "Regulatory action level RBC" means the product of 1.5 and its authorized control level RBC;
(c) "Authorized control level RBC" means the number determined under the risk-based capital formula in accordance with the RBC instructions;
(d) "Mandatory control level RBC" means the product of .70 and the authorized control level RBC.
XI. "RBC plan" means a comprehensive financial plan containing the elements specified in RSA 404-F:3, II. If the commissioner rejects the RBC plan, and it is revised by the insurer, with or without the commissioner's recommendation, the plan shall be called the "revised RBC plan."
XII. "RBC report" means the report required in RSA 404-F:2.
XIII. "Total adjusted capital" means the sum of:
(a) An insurer's statutory capital and surplus as determined in accordance with statutory accounting applicable to the annual financial statements required to be filed; and
(b) Such other items, if any, as the RBC instructions may provide.
Source.
1995, 113:1. 2000, 207:1, 2, eff. July 29, 2000. 2018, 177:1, eff. Aug. 7, 2018.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-F - Risk-Based Capital (Rbc) for Insurers › Section 404-F:5 - Authorized Control Level Event.

404-F:5 Authorized Control Level Event. –
I. "Authorized control level event" means any of the following events:
(a) The filing of an RBC report by the insurer which indicates that the insurer's total adjusted capital is greater than or equal to its mandatory control level RBC but less than its authorized control level RBC;
(b) The notification by the commissioner to the insurer of an adjusted RBC report that indicates the event in subparagraph (a), provided the insurer does not challenge the adjusted RBC report under RSA 404-F:7;
(c) If, pursuant to RSA 404-F:7, the insurer challenges an adjusted RBC report that indicates the event in subparagraph (a), notification by the commissioner to the insurer that the commissioner has, after a hearing, rejected the insurer's challenge;
(d) The failure of the insurer to respond, in a manner satisfactory to the commissioner, to a corrective order, provided the insurer has not challenged the corrective order under RSA 404-F:7; or
(e) If the insurer has challenged a corrective order under RSA 404-F:7 and the commissioner has, after a hearing, rejected the challenge or modified the corrective order, the failure of the insurer to respond, in a manner satisfactory to the commissioner, to the corrective order subsequent to rejection or modification by the commissioner.
II. In the event of an authorized control level event with respect to an insurer, the commissioner shall:
(a) Take such actions as are required under RSA 404-F:4 regarding an insurer with respect to which a regulatory action level event has occurred; or
(b) If the commissioner deems it to be in the best interests of the policyholders and creditors of the insurer and of the public, take such actions as are necessary to cause the insurer to be placed under regulatory control under RSA 402-C. In the event the commissioner takes such actions, the authorized control level event shall be deemed sufficient grounds for the commissioner to take action under RSA 402-C, and the commissioner shall have the rights, powers, and duties with respect to the insurer as are set forth in RSA 402-C. In the event the commissioner takes actions under this paragraph pursuant to an adjusted RBC report, the insurer shall be entitled to such protections as are afforded to insurers under the provisions of RSA 402-C:11-14 pertaining to summary proceedings.
Source.
1995, 113:1, eff. July 15, 1995.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-F - Risk-Based Capital (Rbc) for Insurers › Section 404-F:6 - Mandatory Control Level Event.

404-F:6 Mandatory Control Level Event. –
I. "Mandatory control level event" means any of the following events:
(a) The filing of an RBC report which indicates that the insurer's total adjusted capital is less than its mandatory control level RBC;
(b) Notification by the commissioner to the insurer of an adjusted RBC report that indicates the event in subparagraph (a), provided the insurer does not challenge the adjusted RBC report under RSA 404-F:7; or
(c) If, pursuant to RSA 404-F:7, the insurer challenges an adjusted RBC report that indicates the event in subparagraph (a), notification by the commissioner to the insurer that the commissioner has, after a hearing, rejected the insurer's challenge.
II. In the event of a mandatory control level event:
(a) With respect to a life and/or health insurer or health organization, the commissioner shall take such actions as are necessary to place the insurer under regulatory control under RSA 402-C. In that event, the mandatory control level event shall be deemed sufficient grounds for the commissioner to take action under RSA 402-C, and the commissioner shall have the rights, powers, and duties with respect to the insurer as are set forth in RSA 402-C. If the commissioner takes actions pursuant to an adjusted RBC report, the insurer shall be entitled to the protections of RSA 402-C:11-14 pertaining to summary proceedings. Notwithstanding any of the foregoing, the commissioner may forego action for up to 90 days after the mandatory control level event if the commissioner finds there is a reasonable expectation that the mandatory control level event may be eliminated within the 90-day period.
(b) With respect to a property and casualty insurer, the commissioner shall take such actions as are necessary to place the insurer under regulatory control under RSA 402-C, or, in the case of an insurer which is writing no business and which is running-off its existing business, may allow the insurer to continue its runoff under the supervision of the commissioner. In either event, the mandatory control level event shall be deemed sufficient grounds for the commissioner to take action under RSA 402-C and the commissioner shall have the rights, powers, and duties with respect to the insurer as are set forth in RSA 402-C. If the commissioner takes actions pursuant to an adjusted RBC report, the insurer shall be entitled to the protections of RSA 402-C:11-14 pertaining to summary proceedings. Notwithstanding any of the foregoing, the commissioner may forego action for up to 90 days after the mandatory control level event if the commissioner finds there is a reasonable expectation that the mandatory control level event may be eliminated within the 90-day period.
Source.
1995, 113:1. 2000, 207:4, eff. July 29, 2000. 2019, 183:5, eff. Sept. 8, 2019.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-F - Risk-Based Capital (Rbc) for Insurers › Section 404-F:7 - Hearings.

404-F:7 Hearings. –
Upon:
I. Notification to an insurer by the commissioner of an adjusted RBC report; or
II. Notification to an insurer by the commissioner that:
(a) The insurer's RBC plan or revised RBC plan is unsatisfactory; and
(b) Such notification constitutes a regulatory action level event with respect to such insurer; or
III. Notification to any insurer by the commissioner that the insurer has failed to adhere to its RBC plan or revised RBC plan and that such failure has a substantial adverse effect on the ability of the insurer to eliminate the company action level event with respect to the insurer in accordance with its RBC plan or revised RBC plan; or
IV. Notification to an insurer by the commissioner of a corrective order with respect to the insurer,
the insurer shall have the right to a confidential departmental hearing, on the record, at which the insurer may challenge any determination or action by the commissioner. The insurer shall notify the commissioner of its request for a hearing within 5 days after the notification by the commissioner under paragraph I, II, III, or IV. Upon receipt of the insurer's request for a hearing, the commissioner shall set a date for the hearing, which date shall be no less than 10 nor more than 30 days after the date of the insurer's request.
Source.
1995, 113:1, eff. July 15, 1995.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-F - Risk-Based Capital (Rbc) for Insurers › Section 404-F:9 - Supplemental Provisions; Rules; Exemption.

404-F:9 Supplemental Provisions;  Rules;  Exemption. –
I. The provisions of this chapter are supplemental to any other provisions of the laws of this state, and shall not preclude or limit any other powers or duties of the commissioner under such laws, including, but not limited to, RSA 402-C.
II. The commissioner may adopt reasonable rules, under RSA 541-A, necessary for the implementation of this chapter.
III. The commissioner may exempt from the application of this chapter any domestic property and casualty insurer which:
(a) Writes direct business only in this state;
(b) Writes direct annual premium of $2,000,000 or less; and
(c) Assumes no reinsurance in excess of 5 percent of direct premium written.
Source.
1995, 113:1, eff. July 15, 1995.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-F - Risk-Based Capital (Rbc) for Insurers › Section 404-F:10 - Foreign Insurers.

404-F:10 Foreign Insurers. –
I. Any foreign insurer shall, upon the written request of the commissioner, submit to the commissioner an RBC report as of the end of the calendar year just ended the later of:
(a) The date an RBC report would be required to be filed by a domestic insurer under this chapter; or
(b) Fifteen days after the request is received by the foreign insurer. Any foreign insurer shall, at the written request of the commissioner, promptly submit to the commissioner a copy of any RBC plan that is filed with the insurance commissioner of any other state.
II. In the event of a company action level event, regulatory action level event, or authorized control level event with respect to any foreign insurer as determined under the RBC statute applicable in the state of domicile of the insurer or, if no RBC statute is in force in that state, under the provisions of this chapter, if the insurance commissioner of the state of domicile of the foreign insurer fails to require the foreign insurer to file an RBC plan in the manner specified under that state's RBC statute, or, if no RBC statute is in force in that state, under RSA 404-F:3, the commissioner may require the foreign insurer to file an RBC plan with the commissioner. In such event, the failure of the foreign insurer to file an RBC plan with the commissioner shall be grounds to order the insurer to cease and desist from writing new insurance business in this state.
III. In the event of a mandatory control level event with respect to any foreign insurer, if no domiciliary receiver has been appointed with respect to the foreign insurer under the rehabilitation and liquidation statute applicable in the state of domicile of the foreign insurer, the commissioner may make application to the superior court permitted under RSA 402-C with respect to the liquidation of property of foreign insurers found in this state, and the occurrence of the mandatory control level event shall be considered adequate grounds for the application.
Source.
1995, 113:1, eff. July 15, 1995.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-F - Risk-Based Capital (Rbc) for Insurers › Section 404-F:11 - Immunity.

404-F:11 Immunity. –
There shall be no liability on the part of, and no cause of action shall arise against, the commissioner or the insurance department or its employees or agents for any action taken by them in the performance of their powers and duties under this chapter.
Source.
1995, 113:1, eff. July 15, 1995.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-F - Risk-Based Capital (Rbc) for Insurers › Section 404-F:12 - Severability Clause.

404-F:12 Severability Clause. –
If any provision of this chapter, or the application thereof to any person or circumstance, is held invalid, such determination shall not affect the provisions or applications of this chapter which can be given effect without the invalid provision or application, and to that end the provisions of this chapter are severable.
Source.
1995, 113:1, eff. July 15, 1995.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-F - Risk-Based Capital (Rbc) for Insurers › Section 404-F:13 - Notices.

404-F:13 Notices. –
All notices by the commissioner to an insurer which may result in regulatory action hereunder shall be effective upon dispatch if transmitted by registered or certified mail, or in the case of any other transmission shall be effective upon the insurer's receipt of such notice.
Source.
1995, 113:1, eff. July 15, 1995.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-F - Risk-Based Capital (Rbc) for Insurers › Section 404-F:14 - Phase-in Provision.

404-F:14 Phase-in Provision. –
I. For RBC reports required to be filed by life insurers with respect to 1993, the following requirements shall apply in lieu of the provisions of RSA 404-F:3, 4, 5, and 6:
(a) In the event of a company action level event with respect to a domestic insurer, the commissioner shall take no regulatory action hereunder.
(b) In the event of a regulatory action level event under RSA 404-F:4, I(a), (b), or (c) the commissioner shall take the actions required under RSA 404-F:3.
(c) In the event of a regulatory action level event under RSA 404-F:4, I(d), (e), (f), (g), (h), or (i) or an authorized control level event, the commissioner shall take the actions required under RSA 404-F:4 with respect to the insurer.
(d) In the event of a mandatory control level event with respect to an insurer, the commissioner shall take the actions required under RSA 404-F:5 with respect to the insurer.
II. For RBC reports required to be filed by property and casualty insurers with respect to 1994, the following requirements shall apply in lieu of the provision of RSA 404-F:3, 4, 5, and 6:
(a) In the event of a company action level event with respect to a domestic insurer, the commissioner shall take no regulatory action hereunder.
(b) In the event of a regulatory action level event under RSA 404-F:4, I(a), (b), or (c) the commissioner shall take the actions required under RSA 404-F:3.
(c) In the event of a regulatory action level event under RSA 404-F:4, I(d), (e), (f), (g), (h), or (i) or an authorized control level event, the commissioner shall take the actions required under RSA 404-F:4 with respect to the insurer.
(d) In the event of a mandatory control level event with respect to an insurer, the commissioner shall take the actions required under RSA 404-F:5 with respect to the insurer.
III. For RBC reports required to be filed by health organizations with respect to 1999, the following requirements shall apply in lieu of the provisions of RSA 404-F:3, 4, 5, and 6:
(a) In the event of a company action level event with respect to a health organization, the commissioner shall take no regulatory action hereunder.
(b) In the event of a regulatory action level event under RSA 404-F:4, I, (a), (b), or (c) the commissioner shall take the actions required under RSA 404-F:3.
(c) In the event of a regulatory action level event under RSA 404-F:4, I, (d), (e), (f), (g), (h), or (i) or an authorized control level event, the commissioner shall take the actions required under RSA 404-F:4 with respect to the health organization.
(d) In the event of a mandatory control level event with respect to an insurer, the commissioner shall take the actions required under RSA 404-F:5 with respect to the health organization.
Source.
1995, 113:1. 2000, 207:5, eff. July 29, 2000.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:1 - Purpose of Provisions.

404-G:1 Purpose of Provisions. –
The purposes of this chapter are to:
I. Protect the citizens of this state who participate in the individual health insurance market by providing a mechanism to equitably distribute the excessive risk sometimes associated with this market and to promote market stability.
II. Authorize the creation of a nonprofit, voluntary organization which shall be known as the New Hampshire individual health plan benefit association, "the association" or "the New Hampshire health plan", to promote the purposes and carry out the requirements of this chapter under the oversight by the commissioner.
III. Support the affordability and accessibility of health insurance in the state's individual market.
IV. Establish one or more individual health insurance market mandatory risk sharing plans as a mechanism to distribute the risks associated within the nongroup, individual market.
V. Support the New Hampshire granite advantage health care program established in RSA 126-AA or any successor program.
VI. Establish an assessment mechanism to fund the association's programs as defined in RSA 404-G:2, IX and the association's support of the New Hampshire granite advantage health care program established in RSA 126-AA or any successor program.
Source.
1998, 340:6. 2001, 295:4. 2010, 243:2. 2016, 13:7, eff. Apr. 5, 2016. 2018, 342:15, eff. Dec. 31, 2018. 2023, 92:1, eff. Jan. 1, 2024.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:1-a - Repealed by 2023, 92:8, I, eff. Jan. 1, 2024.

404-G:1-a Repealed by 2023, 92:8, I, eff. Jan. 1, 2024. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:3 - Association's Powers and Duties.

404-G:3 Association's Powers and Duties. –
I. The association shall be a not-for-profit, voluntary corporation formed under RSA 292 and shall possess all powers as derive from that status and such additional powers and duties as are approved by the commissioner or as specified in this chapter.
II. The board of directors of the association shall have the following general powers:
(a) Enter into contracts and retain such vendors or administrators, with or without a competitive bidding process in the discretion of the board of directors, as necessary or proper to administer the plan of operation.
(b) Sue or be sued, including taking any legal action necessary or proper for the recovery of any assessments for, on behalf of, or against members of the association, assessable entities, or other participating person.
(c) Retain appropriate legal, actuarial, and other persons as necessary to provide technical assistance in the operation of the plan, policy development, and other program design and in any other function within the authority of the plan of operation.
(d) Borrow money and/or establish reserve funds to carry out the plan of operation and protect against unexpected or unforeseeable expenses and losses.
(e) Adopt bylaws, which may be amended from time to time, to establish additional procedural and governance provisions of the association, which provisions shall not be inconsistent with the provisions of this chapter.
(f) Perform any other functions within the authority of the association as may be necessary or proper to carry out the plan of operation.
III. The board of directors of the association shall have the following duties:
(a) Fulfill the plan of operation as approved by the commissioner.
(b) Determine and collect assessments from assessable entities as provided in RSA 404-G:5-a and in the plan of operation.
(c) Disburse assessment payments, as provided in the plan of operation for the high risk pool.
IV. Neither the association nor its employees or agents shall be liable for any obligations of the plan. No member or employee of the association shall be liable, and no cause of action of any nature may arise against them, for any act or omission related to the performance of their powers and duties under this chapter unless such act or omission constitutes willful or wanton misconduct. The association may provide in its bylaws or rules for indemnification of, and legal representation for, its members, employees, and agents.
Source.
1998, 340:6. 2001, 295:7. 2010, 243:5, eff. July 1, 2010. 2023, 92:2, eff. Jan. 1, 2024.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:4-a - Repealed by 2023, 92:1, II, eff. Jan. 1, 2024.

404-G:4-a Repealed by 2023, 92:1, II, eff. Jan. 1, 2024. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:5 - Plan of Operation.

404-G:5 Plan of Operation. –
The board of directors of the association shall adopt a plan of operation which shall provide for the implementation of each program authorized or required under this chapter or under other statutory provisions referring to this chapter. The plan of operation shall be approved by the commissioner prior to implementation and may be amended from time to time with the approval of the commissioner. The plan of operation shall provide substantially the following:
I. Description of each program's objectives including a description of how the association anticipates fulfilling those objectives.
II. Description of how the program will be funded including a description regarding how assessments will be calculated, collected, and distributed, how any excess assessment revenue will be addressed, and the establishment of any reserve funds.
III. Administrative matters. The plan of operation shall further provide for all of the following:
(a) Responsibility for the handling and accounting of funds and other assets of the association.
(b) The financial and other records required to be kept, including the annual report to be submitted to the commissioner.
(c) Compliance with this chapter and any other applicable laws and regulations, including without limitation the terms of any federal waiver or other grant that may fund, in whole or in party, any of the association's programs.
(d) Such other administrative provisions as are necessary or proper for the execution of the powers and duties of the association.
Source.
1998, 340:6. 2001, 295:9, eff. July 1, 2001. 2023, 92:3, eff. Jan. 1, 2024.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:5-b - Repealed by 2023, 92:8, III, eff. Jan. 1, 2024.

404-G:5-b Repealed by 2023, 92:8, III, eff. Jan. 1, 2024. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:5-c - Repealed by 2023, 92:8, IV, eff. Jan. 1, 2024.

404-G:5-c Repealed by 2023, 92:8, IV, eff. Jan. 1, 2024. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:5-d - Repealed by 2023, 92:8, V, eff. Jan. 1, 2024.

404-G:5-d Repealed by 2023, 92:8, V, eff. Jan. 1, 2024. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:5-e - Repealed by 2023, 92:8, VI, eff. Jan. 1, 2024.

404-G:5-e Repealed by 2023, 92:8, VI, eff. Jan. 1, 2024. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:5-f - Repealed by 2023, 92:8, VII, eff. Jan. 1, 2024.

404-G:5-f Repealed by 2023, 92:8, VII, eff. Jan. 1, 2024. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:5-g - Repealed by 2023, 92:8, VIII, eff. Jan. 1, 2024.

404-G:5-g Repealed by 2023, 92:8, VIII, eff. Jan. 1, 2024. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:6 - Commissioner's Powers and Duties.

404-G:6 Commissioner's Powers and Duties. –
In addition to duties and powers enumerated elsewhere in this chapter:
I. The commissioner shall upon request of the board of directors of the association, serve a demand upon the assessable entity to pay an assessment within a reasonable time; the failure of the assessable entity to promptly comply with such demand shall not excuse the association from the performance of its powers and duties under this chapter.
II. The commissioner may suspend or revoke, after notice and hearing, the certificate of authority to transact insurance business in this state of any assessable entity which fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative, the commissioner may levy a forfeiture on any assessable entity which fails to pay an assessment when due. Such forfeiture shall not exceed 5 percent of the unpaid assessment per month, but no forfeiture shall be less than $100 per month. Any amounts so collected shall be credited to the assessment fund administered by the association.
III. Any action of the board of directors or the association may be appealed to the commissioner by any assessable entity if the appeal is taken within 30 days of the final action being appealed. If an assessable entity is appealing an assessment, the amount assessed shall be paid to the association and available to meet association obligations during the pendency of an appeal. If the appeal on the assessment is upheld, the amount paid in error or excess shall be returned to the assessable entity from available funds of the association. Any final action or order of the commissioner shall be subject to judicial review, pursuant to RSA 541.
IV. The commissioner may adopt rules as necessary to carry out the purposes of this chapter.
V. The powers of the commissioner enumerated in this chapter shall be in addition to those established under RSA 404-C.
Source.
1998, 340:6. 2008, 375:6, eff. July 1, 2008. 2023, 92:4, eff. Jan. 1, 2024.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:7 - Examination and Annual Report.

404-G:7 Examination and Annual Report. –
The association shall be subject to examination by the commissioner. The cost of any such examination shall be borne by the association. The board of directors shall submit to the commissioner each year, not later than 180 days after the association's fiscal year, a financial report in a form approved by the commissioner and a report of its activities during the preceding fiscal year. The report shall list the association membership base, provide a count of covered lives by member, identify changes in association membership and covered lives, describe the collection of assessments and user fees, list payment delinquencies, detail progress made in the fulfillment of the plans of operation, and contain such other related information as the commissioner may require. The association's fiscal year shall be the calendar year.
Source.
1998, 340:6. 2001, 295:11, eff. July 1, 2001. 2023, 92:4, eff. Jan. 1, 2024.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:8 - Tax Exemption.

404-G:8 Tax Exemption. –
The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real property.
Source.
1998, 340:6, eff. Aug. 25, 1998.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:9 - Immunity for Members and Employees.

404-G:9 Immunity for Members and Employees. –
There shall be no liability on the part of and no cause of action of any nature shall arise against any member or its agents or employees, the association or its agents or employees, members of the board of directors, or the commissioner or the commissioner's representatives, for any action or omission by them in the performance of their powers and duties under this chapter.
Source.
1998, 340:6, eff. Aug. 25, 1998. 2023, 92:5, eff. Jan. 1, 2024.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:10 - Severability.

404-G:10 Severability. –
If any provisions of this chapter or the application thereof to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of the chapter which can be given effect without the invalid provisions or applications, and to this end the provisions of this chapter are severable.
Source.
1998, 340:6, eff. Aug. 25, 1998.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:11 - Termination of Activities and Dissolution.

404-G:11 Termination of Activities and Dissolution. –
In the event one or more programs administered by the association are terminated, the association shall undertake the winding down and cessation of the program or programs, and the dissolution of the association if no programs remain, as follows:
I. The board of directors of the association shall prepare and submit to the commissioner for approval, a plan of termination which shall be an amendment to the plans of operation described in RSA 404-G:5. The plan of termination shall provide for such administrative measures as are necessary or desirable to terminate the program or programs, and such provisions shall not be inconsistent with this section.
II. Following the approval of the plan of termination by the commissioner, the association shall take such actions as are necessary and desirable to wind down its affairs under this chapter in accordance with the plan of termination. The association shall retain all of its powers and duties, including, but not limited to, its power to establish and collect regular and special assessments under RSA 404-G:5-a, and the immunity provided by RSA 404-G:9 and the bylaws of the association. Any excess funds remaining after the satisfaction of all of the association's liabilities shall be used for the program and for the association's reasonable costs for collecting its share of the remainder amount.
III. When the association has completed the winding down of its affairs under this chapter and satisfied in full all of its liabilities, then it shall submit to the commissioner for approval a plan of dissolution. Upon approval of the plan of dissolution, the association shall file a certificate of dissolution with the secretary of state, whereupon the association shall cease to exist.
Source.
2013, 200:1. 2016, 13:11, eff. Apr. 5, 2016. 2023, 92:6, eff. Jan. 1, 2024.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-G - Individual Health Insurance Market › Section 404-G:12 - Repealed by 2023, 92:8, IX, eff. Jan. 1, 2024.

404-G:12 Repealed by 2023, 92:8, IX, eff. Jan. 1, 2024. –