reglab/statecodes huggingface dataset:
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-H - New Hampshire Insurance Guaranty Association Act of 2004 › Section 404-H:1 - Title.

404-H:1 Title. –
This chapter shall be known and may be cited as the New Hampshire Insurance Guaranty Association Act of 2004.
Source.
2004, 197:1, eff. Aug. 6, 2004.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-H - New Hampshire Insurance Guaranty Association Act of 2004 › Section 404-H:2 - Purpose.

404-H:2 Purpose. –
The purpose of this chapter is to provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment and to the extent provided in this chapter minimize financial loss to claimants or policyholders because of the insolvency of an insurer, and to permit an association to assess the cost of such protection among insurers.
Source.
2004, 197:1, eff. Aug. 6, 2004.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-H - New Hampshire Insurance Guaranty Association Act of 2004 › Section 404-H:3 - Scope.

404-H:3 Scope. –
This chapter shall apply to insurers with orders of liquidation with findings of insolvency that are first entered after the effective date of this chapter and shall apply to all kinds of direct insurance, but shall not be applicable to the following:
I. Life, annuity, health, or disability insurance;
II. Mortgage guaranty, financial guaranty, or other forms of insurance offering protection against investment risks;
III. Fidelity or surety bonds, or any other bonding obligations;
IV. Credit insurance, vendors' single interest insurance, or collateral protection insurance or other forms of any similar insurance protecting the interests of a creditor arising out of a creditor-debtor transaction;
V. Insurance of warranties or service contracts including insurance that provides for the repair, replacement, or service of goods or property, indemnification for repair, replacement or service for the operational or structural failure of goods or property due to a defect of materials, workmanship, or normal wear and tear, or provides reimbursement for the liability incurred by the issuer of agreements or service contracts that provide such benefits;
VI. Title insurance;
VII. Ocean marine insurance;
VIII. Any transaction or combination of transactions between a person, including affiliates of such person, and an insurer, including affiliates of such insurer, which involves the transfer of investment or credit risk unaccompanied by transfer of insurance risk; or
IX. Any insurance provided by or guaranteed by government.
Source.
2004, 197:1, eff. Aug. 6, 2004.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-H - New Hampshire Insurance Guaranty Association Act of 2004 › Section 404-H:4 - Construction.

404-H:4 Construction. –
This chapter shall be liberally construed to effect the purpose under RSA 404-H:2 which shall constitute an aid and guide to interpretation.
Source.
2004, 197:1, eff. Aug. 6, 2004.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-H - New Hampshire Insurance Guaranty Association Act of 2004 › Section 404-H:6 - Creation of the Association.

404-H:6 Creation of the Association. –
There is created a nonprofit unincorporated legal entity to be known as the New Hampshire Insurance Guaranty Association, that shall be the same association created under RSA 404-B:6. All insurers defined as member insurers in RSA 404-H:5, XI 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 a plan of operation established and approved under RSA 404-H:9 and shall exercise its powers through a board of directors established under RSA 404-H:7. For purposes of administration and assessment, the association shall be divided into 3 separate accounts:
I. The workers' compensation insurance account;
II. The automobile insurance account; and
III. The account of all other insurance to which this chapter applies.
Source.
2004, 197:1, eff. Aug. 6, 2004.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-H - New Hampshire Insurance Guaranty Association Act of 2004 › Section 404-H:7 - Board of Directors.

404-H:7 Board of Directors. –
I. The board of directors of the association shall consist of not less than 5 nor more than 9 persons 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 by a majority vote of the remaining board members subject to the approval of the commissioner
.
If no members are selected within 60 days after the effective date of this chapter, the commissioner may appoint the initial members of the board of directors.
II. In approving selections 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.
Source.
2004, 197:1, eff. Aug. 6, 2004.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-H - New Hampshire Insurance Guaranty Association Act of 2004 › Section 404-H:10 - Duties and Powers of the Commissioner.

404-H:10 Duties and Powers of the Commissioner. –
I. The commissioner shall:
(a) Forward to the association a copy of any complaint seeking an order of liquidation with a finding of insolvency against a member company at the same time such complaint is filed with a court of competent jurisdiction.
(b) Notify the association of the existence of an insolvent insurer not later than 3 days after the commissioner receives notice of the determination of the insolvency.
(c) Upon request of the board of directors, provide the association with a statement of the net direct written premiums of each member insurer.
II. The commissioner may:
(a) 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 fine on any member insurer which fails to pay an assessment when due. Such fine shall be paid to the association and shall not exceed 5 percent of the unpaid assessment per month, except that no fine shall be less than $100 per month.
(b) Revoke the designation of any servicing facility if the commissioner finds claims are being handled unsatisfactorily.
III. Any final action or order of the commissioner under this chapter shall be subject to judicial review in a court of competent jurisdiction.
Source.
2004, 197:1, eff. Aug. 6, 2004.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-H - New Hampshire Insurance Guaranty Association Act of 2004 › Section 404-H:12 - Exhaustion of Other Coverage.

404-H:12 Exhaustion of Other Coverage. –
I. Any person having a claim against an insurer under any provision in an insurance policy other than a policy of an insolvent insurer, including but not limited to the provisions of uninsured motorist coverage of any policy, shall be required to exhaust first his or her right under such policy. Any amount payable on a covered claim under this chapter shall be reduced by the amount of any recovery under such insurance policy.
II. Any person having a claim which may be recovered under more than one insurance guaranty association or its equivalent shall seek recovery first from the association of the place of residence of the insured except that if it is a first party claim for damage to property with a permanent location, he or she shall seek recovery first from the association of the location of the property, and if it is a workers' compensation claim, he or she shall seek recovery first from the association of the residence of the claimant. Any amount payable as a covered claim under this chapter shall be reduced by the amount of recovery from any other insurance guaranty association or its equivalent.
Source.
2004, 197:1, eff. Aug. 6, 2004.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-H - New Hampshire Insurance Guaranty Association Act of 2004 › Section 404-H:13 - Prevention of Insolvencies.

404-H:13 Prevention of Insolvencies. –
To aid in the detection and prevention of insurer insolvencies:
I. 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 considered public documents.
II. The board of directors may, at the conclusion of any insurer insolvency in which the association was obligated to pay covered claims, prepare a report on the history and causes of such insolvency, based on the information available to the association, and submit such report to the commissioner.
III. The board of directors may, upon majority vote, make recommendations to the commissioner on matters generally related to improving or enhancing regulation for solvency.
Source.
2004, 197:1, eff. Aug. 6, 2004.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-H - New Hampshire Insurance Guaranty Association Act of 2004 › Section 404-H:14 - Examination of the Association.

404-H:14 Examination of the Association. –
The association shall be subject to examination and regulation by the commissioner. The board of directors shall submit, not later than March 30 of each year, a financial report for the preceding calendar year in a form approved by the commissioner.
Source.
2004, 197:1, eff. Aug. 6, 2004.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-H - New Hampshire Insurance Guaranty Association Act of 2004 › Section 404-H:15 - Tax Exemption.

404-H:15 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 or personal property.
Source.
2004, 197:1, eff. Aug. 6, 2004.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-H - New Hampshire Insurance Guaranty Association Act of 2004 › Section 404-H:16 - Recognition of Assessments in Rates.

404-H:16 Recognition of Assessments in Rates. –
I. The rates and premiums charged for insurance policies to which this chapter applies may include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer less any amounts returned to the member insurer by the association. Such rates may not be deemed excessive because they contain an amount reasonably calculated to recoup assessments paid by the member insurer. Alternatively, the member insurer may recoup assessments by collecting a surcharge on premiums charged for insurance policies to which this chapter applies instead of recouping the assessments through its rates and premiums.
II. The amount of any surcharge may be separately stated on either a billing or policy declaration sent to an insured.
III. Member insurers who collect surcharges in excess of assessments owed for an insolvent insurer shall remit the excess to the association as an additional assessment within 30 days after the association has determined the amount of the excess recoupment and given notice to the member of that amount. The excess shall be applied to reduce future assessment charges in the appropriate accounts.
IV. A member insurer may omit collection of the surcharge from its insureds when the expense of collecting the surcharge would exceed the amount of the surcharge. However, nothing in this section shall relieve the member insurer of its obligation to remit the amount of surcharge otherwise collectible.
V. Amounts recouped through surcharge shall be considered premiums for all purposes, including the computation of gross premium tax.
Source.
2004, 197:1, eff. Aug. 6, 2004.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-H - New Hampshire Insurance Guaranty Association Act of 2004 › Section 404-H:17 - Immunity.

404-H: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, the association or its agents or employees, the board of directors, or any person serving as a representative of any director, or the commissioner or his or her representatives for any action taken or any failure to act by them in the performance of their powers and duties under this chapter.
Source.
2004, 197:1, eff. Aug. 6, 2004.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-H - New Hampshire Insurance Guaranty Association Act of 2004 › Section 404-H:18 - Stay of Proceedings.

404-H:18 Stay of Proceedings. –
All proceedings in which the insolvent insurer is a party or is obligated to defend a party in any court in this state shall, subject to waiver by the association in specific cases, be stayed for 6 months and such additional time thereafter as may be determined by the court from the date the insolvency is determined or an ancillary proceeding is instituted in this state, whichever is later.
Source.
2004, 197:1, eff. Aug. 6, 2004.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-H - New Hampshire Insurance Guaranty Association Act of 2004 › Section 404-H:19 - Termination of the Association.

404-H:19 Termination of the Association. –
The commissioner may by order terminate the operation of the association as to any kind of insurance with respect to which the commissioner has found, after notice and hearing, that there is in effect a statutory plan of the United States government to avoid excessive delay or financial loss to claimants or policyholders because of insurer insolvency. Such order for termination shall continue the operation of this chapter with respect to prior insurer insolvencies not covered by such plan. The order shall also provide for a proportionate distribution of the assets of the association to insurers which will cease to be members of the association on the effective date of the order.
Source.
2004, 197:1, eff. Aug. 6, 2004.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 404-H - New Hampshire Insurance Guaranty Association Act of 2004 › Section 404-H:20 - Advertising.

404-H:20 Advertising. –
No person shall make, publish or circulate, or cause to be made, published or circulated, any statement which uses the existence of the association for the purpose of sale, solicitation or inducement to purchase any form of insurance within the scope of this chapter, provided this section shall not apply to the distribution of any publication approved by the commissioner and describing the general purposes and current limitations of this chapter.
Source.
2004, 197:1, eff. Aug. 6, 2004.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:1 - Requirement.

405:1 Requirement. –
No insurance company not organized under the laws of this state shall do insurance business within the state unless it has obtained a license from the insurance commissioner authorizing it to do so.
Source.
GL 174:22. 1889, 86:1. PS 169:1. PL 275:1. RL 325:1.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:2 - Stock Company.

405:2 Stock Company. –
No such stock insurance company shall be licensed to do business in the state unless it shall possess a paid-up capital of $800,000, invested in securities readily convertible into cash,
1/2 at least of which are not loans secured by real estate; nor unless it shall possess, in addition to such capital, assets equal in amount to all its outstanding liabilities, estimating 50 percent of premiums received on unexpired fire risks running one year or less from date of policy, and a pro rata amount of all premiums received on unexpired risks running more than one year from date of policy, and on marine risks 50 percent of the amount of premiums written on policies upon yearly risks, and upon risks covering more than one passage not terminated, and the full amount of premiums written on policies of all other marine risks not terminated as a liability.
Source.
1870, 1:1. 1875, 38:1. 1876, 11:1. GL 174:1. PS 169:2. 1907, 10:1; 37:1. 1921, 128:1. PL 275:2. RL 325:2. 1947, 182:5. RSA 405:2. 1969, 283:5, eff. June 25, 1969.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:3 - Life Insurance Company.

405:3 Life Insurance Company. –
If it is a life insurance company the premium reserve on life risks, based on the actuaries' table of mortality, with interest at 4 percent, shall be treated as a liability.
Source.
1870, 1:1. 1875, 38:1. 1876, 11:1. GL 174:1. PS 169:2. PL 275:3. RL 325:3.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:4 - Mutual Insurance Company.

405:4 Mutual Insurance Company. –
No such mutual insurance company shall be licensed to do business in the state unless it shall possess $800,000 of surplus to policyholders invested as provided in RSA 405:2, nor unless its assets equal its outstanding liabilities, including reinsurance, to be estimated as in the case of joint stock insurance companies, and including also the amount of its guaranteed capital.
Source.
1870, 1:1. 1875, 38:1. 1876, 11:1. GL 174:1. PS 169:3. PL 275:4. RL 325:4. RSA 405:4. 1969, 283:6, eff. June 25, 1969.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:6 - Non-assessable Policies.

405:6 Non-assessable Policies. –
Any mutual fire or casualty insurance company now or hereafter admitted to transact business in this state may issue non-assessable policies in compliance with the requirements of RSA 402:2, except that the deposit required by said section may be made in the home state of such admitted company in cash or securities legal for investments by such companies in such home state. Any deposit required for the purposes specified in this section shall be inclusive of any deposit required by any other state, provided that such deposit is for the benefit of all policyholders in the United States.
Source.
1941, 122:2. RL 325:6.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:7 - Net Assets.

405:7 Net Assets. –
The term net assets, as used herein, shall be taken to mean the funds of an insurance company available for the payment of its obligations in this state, including, in the case of a mutual company, its deposit notes or other contingent funds, its subscription fund and premium notes absolutely due, and also including uncollected and deferred premiums not more than 3 months due, on policies actually in force, after deducting from such funds all unpaid losses and claims, and claims for losses, and all other debts and liabilities inclusive of policy liability and exclusive of capital.
Source.
1919, 23:1. PL 275:6. RL 325:7.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:8 - Mill Mutuals.

405:8 Mill Mutuals. –
Mutual fire or mutual employer's liability insurance companies incorporated under the laws of other states, which insure only factories or mills or property connected with such factories or mills, may be admitted to this state upon complying with the conditions set forth herein, and shall comply with all the requirements hereof, except that, in lieu of all other taxation upon premiums in this state, such companies shall annually pay a tax at the rate of 2 percent on gross premiums in force on risks in this state after deducting the unabsorbed portion of such premium computed at the rate of return actually made on annual policies expiring during the year by said insurance companies.
Source.
1913, 90:1. PL 275:7. RL 325:8.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:9 - Returns.

405:9 Returns. –
Such companies shall, on or before March 1, make a return, under oath, to the commissioner, showing the gross premiums in force on risks in this state on December 31 previous and the unabsorbed portion of such premiums computed at the rate of return actually made on annual policies expiring during the year by said companies.
Source.
1913, 90:1. PL 275:8. 1929, 13:1. RL 325:9.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:10 - Service of Process Through Insurance Commissioner.

405:10 Service of Process Through Insurance Commissioner. –
No such joint stock or mutual insurance company, nor its agents, shall do business in this state until it has filed with the commissioner a written stipulation, agreeing that legal process affecting the company, served on the commissioner for the time being, shall have the same effect as if served personally on the company within the state. Service of such process shall be made by leaving a copy of the process in the hands of the commissioner or in his office and paying to the commissioner a fee as prescribed by RSA 400-A:29.
Source.
1870, 1:1. 1875, 38:1. 1876, 11:1. GL 174:1. PS 169:4. PL 275:9. 1933, 32:1. RL 325:10. RSA 405:10. 1971, 244:2, eff. Aug. 17, 1971.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:11 - Preliminary Statements.

405:11 Preliminary Statements. –
Before a license is granted to a company it shall file with the commissioner a certified copy of its charter and by-laws and a full statement, under oath, of its president and secretary, showing the financial standing and condition of the company, in accordance with blanks furnished by the commissioner, except in cases where the company has already filed such papers, and shall otherwise comply with all laws relating to such companies.
Source.
GL 174:2. 1889, 86:1. PS 169:5. PL 275:10. RL 325:11.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:11-a - Prohibitions.

405:11-a Prohibitions. –
I. No foreign insurer which is directly or indirectly owned or controlled in whole or in substantial part by any government or governmental agency shall be authorized to transact insurance in this state. Membership in a mutual insurer or subscribership in a reciprocal insurer or ownership of stock in an insurer by the alien property custodian or similar official of the United States or ownership of stock or other security which does not have voting rights with respect to the management of the insurer or supervision of an insurer by public authority shall not be deemed to be an ownership or control of the insurer for the purposes of this section.
II. The commissioner shall not grant or continue authority to transact insurance in this state as to any insurer or proposed insurer that management of which is found by the commissioner after investigation or upon reliable information to be incompetent or dishonest or untrustworthy or of unfavorable business repute or so lacking in insurance company managerial experience in operations of the kind proposed in this state as to make such operation, currently or prospectively, hazardous to or contrary to the best interests of, the insurance-buying or investing public of this state, or which the commissioner has good reason to believe is affiliated directly or indirectly through ownership, control, reinsurance transactions, or other business relations with any person or persons of unfavorable business repute or whose business operations are or have been marked, to the injury of insurers, stockholders, policyholders, creditors, or the public, by illegality, or by manipulation of assets or of accounts or of reinsurance or by bad faith.
Source.
2008, 18:13, eff. July 11, 2008.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:12 - Licenses.

405:12 Licenses. –
I. If the foregoing provisions are complied with and the commissioner is satisfied that the company (a) has the requisite capital and assets; (b) is a safe, reliable company, entitled to confidence; and (c) is consistent with the NAIC's Uniform Certificate of Authority Application process and standards, the commissioner shall grant a license to it to do insurance business by authorized agents within the state, subject to the laws of the state, until June 14 thereafter. Annually thereafter, on June 14, such license may be renewed so long as the company shall comply with the requirements of the law, NAIC guidelines, and the commissioner shall regard it as safe, reliable and entitled to confidence, and so long as the company continues to conduct a meaningful insurance business, as determined by the commissioner, within New Hampshire.
II. Every insurance company shall conduct its business in the legal name of the insurer as it appears on the insurer's application filed with the NAIC for a company code number. If an insurer is part of a group of affiliated insurers, the group name may appear in addition to the name of the individual insuring company, but the group name shall not be used in lieu of the legal name of the individual company.
(a) All insurance policies and contracts, and any endorsements or amendments separately issued and intended to be attached to such policies or contracts, shall identify the legal name, as set forth in paragraph II, of the insurer that is directly assuming the obligations under the policy or contract. Inclusion of the legal name of the insurer in a policy jacket, declaration, or other similar cover page issued with the policy, contract, or endorsement shall be deemed to be in compliance with this requirement.
(b) Identification of the insuring company on any advertisement or promotional materials shall be governed by the laws or rules related to the advertisements, misrepresentations in sale of insurance, and misrepresentation in insurance transactions.
Source.
GL 174:2. 1889, 86:1. PS 169:6. PL 275:11. RL 325:12. RSA 405:12. 1973, 74:3. 1977, 232:5. 1983, 371:3. 2009, 215:2, eff. Jan. 1, 2010. 2021, 207:2, Pt. VI, Sec. 2, eff. Oct. 9, 2021.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:13 - Revocation or Restriction of License.

405:13 Revocation or Restriction of License. –
Such license may be revoked or restricted at any time by the commissioner for the causes and in the manner prescribed by law.
Source.
GL 174:2. 1889, 86:1. PS 169:6. PL 275:12. RL 325:13. RSA 405:13. 1975, 229:2, eff. Aug. 2, 1975.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:14 - Notice of Revocation.

405:14 Notice of Revocation. –
If, in the opinion of the commissioner, the affairs of a foreign company so licensed are in an unsound or failing condition he shall revoke its license and all licenses that have been granted to its agents, by giving written notice of the revocation to the company and publishing a like notice in the newspaper published in Concord having the largest circulation in the state, and in the like newspaper published in Manchester.
Source.
1870, 1:5. GL 171:6. PS 169:6. PL 275:13. RL 325:14.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:14-a - New License Required for Changed Conditions.

405:14-a New License Required for Changed Conditions. –
The commissioner shall require a company licensed under this chapter to apply for a license in accordance with this chapter, if after notifying the company and after holding a hearing if requested, the commissioner finds that the company has undergone a substantial change in finances or managerial control since its last application for a license. The current license shall expire upon approval of the new application of the company or 30 days after the decision of the commissioner that a substantial change has occurred, whichever is sooner.
Source.
1975, 313:2, eff. Aug. 6, 1975.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:15 - Definition; Agent.

405:15 Definition;  Agent. –
An insurance producer license to act as an agent shall be issued to any eligible person or business entity pursuant to the provisions of RSA 402-J.
Source.
1915, 32:1. 1919, 18:1. PL 275:17. RL 325:18. 2000, 315:10, eff. Jan. 1, 2001.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:17-a - Repealed by 2000, 315:26, XIV, eff. Jan. 1, 2001.

405:17-a Repealed by 2000, 315:26, XIV, eff. Jan. 1, 2001. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:17-b - Insuring Through Producers.

405:17-b Insuring Through Producers. –
I. Foreign insurance or surety companies, although authorized to transact business within this state, shall only make, write, place, or cause to be made, written, or placed, policies or contracts of insurance or suretyship which are to be effective within this state through producers who are licensed and properly appointed to transact business in this state pursuant to RSA 402-J.
II. Foreign insurance or surety companies shall maintain books, records, and documents sufficient to demonstrate compliance with the provisions of paragraph I as provided in RSA 400-B.
Source.
1985, 179:4. 2000, 315:11. 2001, 95:4. 2009, 178:4, eff. Sept. 11, 2009.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:17-c - Insurance Referrals.

405:17-c Insurance Referrals. –
Notwithstanding other provisions of this title, a person who has not complied with all applicable state insurance licensing and appointment laws and regulations may refer a party to a person who has complied with all applicable state insurance licensing and appointment laws and regulations, if the person making such referral is compensated for such referral in an amount that does not exceed a nominal amount and such amount is not based on or related to the party's purchase of insurance.
Source.
2000, 313:2, eff. Aug. 20, 2000.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:20, 405:21 - Repealed by 1967, 237:3, eff. Aug. 22, 1967.

405:20, 405:21 Repealed by 1967, 237:3, eff. Aug. 22, 1967. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:24-a - Definitions.

405:24-a Definitions. –
In this subdivision:
I. "Admitted insurer" means an insurer licensed to do an insurance business in this state.
II. "Alien insurer" means an insurance company formed according to the laws of a foreign country.
III. "Capital," as used in the financial requirements of RSA 405:24, means funds paid in for stock or other evidence of ownership.
IV. "Eligible surplus lines insurer" means an unadmitted insurer with which a surplus lines licensee may place surplus lines insurance pursuant to RSA 405:24.
V. "Foreign insurer" means an insurance company selling policies in a state other than the state in which they are incorporated or domiciled.
VI. "Insurer" means any person, corporation, association, partnership, and reciprocal exchange, interinsurer, Lloyds insurer, insurance exchange syndicate, and any other legal entity engaged in the of business of insurance.
VII. "Nonadmitted" or "unadmitted" means an insurer not licensed to do business in this state.
VIII. "Person" means any natural person or other entity, including, but not limited to, individuals, partnerships, associations, trusts, or corporations.
IX. "Policy" or "contract" means any contract of insurance, including but not limited to indemnity, fidelity, or suretyship.
X. "Surplus," as used in the financial requirements of RSA 405:24, means funds over and above liabilities and capital of the company for the protection of policyholders.
XI. "Surplus lines insurance" means property and casualty insurance in this state on properties, risks or exposures, located or performed in this state, permitted to be placed through a surplus lines licensee with an unadmitted insurer eligible to accept such insurance, pursuant to RSA 405:24.
XII. "Surplus lines licensee" means an individual, firm, or corporation licensed under RSA 405:24 to place insurance on properties, risks, or exposures located or to be performed in this state with unadmitted insurers eligible to accept such insurance.
XIII. "Type of insurance" means coverage afforded under the particular policy that is being placed.
Source.
2019, 14:1, eff. July 9, 2019.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:25 - Monthly Statements.

405:25 Monthly Statements. –
Every such licensee shall, on or before the tenth day of each month, execute and file with the commissioner, a statement under oath covering all insurance policies and contracts of insurance or suretyship procured by him under his said license during the calendar month next preceding, giving the name of the company issuing each of said policies, the name and residence of the insured and the amount, term and premium of each policy and contract and the kind of property or risk insured thereby, and that he was unable to procure in companies admitted to do business in the state the amount of insurance necessary to protect said property or risk.
Source.
1911, 168:2. PL 275:21. RL 325:26. 1947, 173:2, eff. June 4, 1947.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:26 - Companies Excluded.

405:26 Companies Excluded. –
Such licensee shall not offer any portion of such insurance to any company which has not been approved by the insurance commissioner and does not possess and maintain a surplus to policyholders of at least $500,000 or to any company which has within the preceding 24 months been in an impaired condition.
Source.
1911, 168:2. PL 275:22. RL 325:27. RSA 405:26. 1969, 283:8, eff. June 25, 1969.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:27 - Unlicensed Persons.

405:27 Unlicensed Persons. –
No person, unless he shall be so licensed, shall act or aid in any manner in placing policies and contracts of insurance or suretyship to be effective in this state, or other than his own, in any company which is not duly authorized to transact business in this state. No foreign insurance company or other insurer shall issue any policy for which the requirements of this subdivision are not met.
Source.
1911, 168:2. PL 275:23. RL 325:28. 1947, 173:3. RSA 405:27. 1983, 473:13, eff. Sept. 3, 1983.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:28 - Accounts; Reports.

405:28 Accounts;  Reports. –
Each person so licensed shall keep a separate account of the business done under the license, a certified copy of which account he shall forthwith file with the commissioner, showing the exact amount of such insurance placed for any person, firm or corporation, the gross premium charged thereon, the companies in which the same is placed, the date of the policies and the term thereof; and he shall also file a report in the same detail of all such policies cancelled and the gross return premium thereon.
Source.
1911, 168:3. PL 275:24. RL 325:29.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:29 - Annual Statement; Tax.

405:29 Annual Statement;  Tax. –
I. Each licensed producer shall file with the commissioner, not later than January 31st of each year, a sworn statement of the gross premiums charged for insurance procured or placed and the gross return premiums on such insurance cancelled under such license during the year ending on December 31 next preceding, and at the time of filing such statement shall pay to the state treasurer a sum equal to 3 percent of such gross premiums less such return premiums reported.
II. Any producer failing to file the report or failing to remit the proper tax within the time period for filing shall pay a penalty contingent upon the number of days that have passed since the due date. For late payments received 1-30 days after the due date, the penalty fee shall be 3 percent of the amount of tax due. For late payments received 31-60 days after the due date, the penalty fee shall be 6 percent of the amount of tax due. For late payments received more than 60 days after the due date, the penalty fee shall be 12 percent of the amount of tax due.
III. Each producer filing under this section shall be subject to the provisions of RSA 400-A:32-a.
Source.
1911, 168:4. PL 275:25. RL 325:30. 2008, 154:2. 2010, 13:4, eff. July 1, 2010. 2019, 179:3, eff. Jan. 1, 2020.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:29-a - Annual Statement; Tax; Insurance Transactions on Multi-State Risks.

405:29-a Annual Statement;  Tax;  Insurance Transactions on Multi-State Risks. –
For each licensed producer of unlicensed surplus lines companies reporting multi-state transactions, the provisions of RSA 405-B shall apply.
Source.
2011, 191:1, eff. Aug. 13, 2011.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:30 - Investigation.

405:30 Investigation. –
The commissioner shall have authority at all times to investigate any alleged violations of this subdivision, and should he find any to exist he shall report the same to the attorney-general, who shall take proceedings to collect all fees and taxes which may be due from said licensee.
Source.
1911, 168:5. PL 275:26. RL 325:31.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:31 - Penalty.

405:31 Penalty. –
Any person who violates or fails to comply with any of the provisions of this subdivision shall be subject to a fine not more than $2,500 or have any license suspended or revoked or shall both be fined and have any license suspended or revoked.
Source.
1911, 168:5. PL 275:27. RL 325:32. RSA 405:31. 1973, 530:55. 1983, 473:14, eff. Sept. 3, 1983.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:34 - Brokers; Producer License.

405:34 Brokers;  Producer License. –
An insurance producer license to act as a broker shall be issued to any eligible person or business entity pursuant to the provisions of RSA 402-J.
Source.
1915, 63:4. 1917, 23:1. PL 275:29. RL 325:35. 2000, 315:13, eff. Jan. 1, 2001.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:37-a - Repealed by 2000, 315:26, XX, eff. Jan. 1, 2001.

405:37-a Repealed by 2000, 315:26, XX, eff. Jan. 1, 2001. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:39 - Repealed by 2000, 315:26, XXI, eff. Jan. 1, 2001.

405:39 Repealed by 2000, 315:26, XXI, eff. Jan. 1, 2001. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:40 - Repealed by 2000, 315:26, XXII, eff. Jan. 1, 2001.

405:40 Repealed by 2000, 315:26, XXII, eff. Jan. 1, 2001. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:41 - Repealed by 2000, 315:26, XXIII, eff. Jan. 1, 2001.

405:41 Repealed by 2000, 315:26, XXIII, eff. Jan. 1, 2001. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:42 - Repealed by 2000, 315:26, XXIV, eff. Jan. 1, 2001.

405:42 Repealed by 2000, 315:26, XXIV, eff. Jan. 1, 2001. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:43 - Effect of Broker's Knowledge.

405:43 Effect of Broker's Knowledge. –
Companies issuing policies through their agents on applications from brokers shall be charged with the broker's knowledge of facts to the same extent as if he were their agent.
Source.
1915, 63:3. PL 275:38. RL 325:43.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:44 - Repealed by 2000, 315:26, XXV, eff. Jan. 1, 2001.

405:44 Repealed by 2000, 315:26, XXV, eff. Jan. 1, 2001. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:44-a - Consultants; Producer; License Required.

405:44-a Consultants;  Producer;  License Required. –
I. No person, corporation, partnership or association shall engage in any of the following acts without holding a valid producer license pursuant to RSA 402-J and complying with the provisions of RSA 405:44-a through RSA 405:44-g:
(a) Place on any advertisements, cards, signs, circulars or letterheads, or elsewhere, or in any other way or manner by which public announcements are made, use the title "insurance consultant," "insurance adviser," "insurance specialist," "insurance counselor," "insurance analyst," "policyholders' advisor," "policyholders' counselor," or any other similar title, or any title, word or combination of words indicating that the person, corporation, partnership or association gives, or is engaged in the business of giving, advice, counsel, recommendation or information to holders of policies of insurance or annuity or pure endowment contracts; or
(b) For a fee received or to be received, offer to examine, or examine or aid in examining, any policy of insurance for any annuity or pure endowment contract for the purpose of giving, or give or offer to give, any advice, counsel, recommendation or information in respect to the terms, conditions, benefits, coverage or premium of any such policy or contract, or in respect to the expediency or advisability of altering, changing, exchanging, converting, replacing, surrendering, continuing, renewing or rejecting any such policy or contract, or of accepting or procuring any such policy or contract from any company.
II. The term "fee" as used in this section means compensation paid by a person served by any person required to be licensed under RSA 402-J. Fee shall not be construed to mean the commission paid to a licensed insurance producer by an insurer.
Source.
1986, 58:1. 2000, 315:14. 2001, 95:3. 2008, 212:2, eff. June 16, 2008.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:44-b - Consultants; Application for License; Standards; Fee; Revocation; Suspension; Hearing.

405:44-b Consultants;  Application for License;  Standards;  Fee;  Revocation;  Suspension;  Hearing. –
I. The commissioner may, upon receipt of a fee pursuant to RSA 400-A:29, issue to any person who has attained the age of 18 or to any corporation, partnership or association a producer's license to act as an insurance consultant. The applicant for the license shall apply for such license pursuant to the provisions of RSA 402-J.
II, III. [Repealed.]
IV. The commissioner may at any time, for cause shown and after a hearing, due notice of which has been given, revoke the license or suspend it for a period not exceeding the unexpired term of the license. The commissioner may, for cause shown and after a hearing, due notice of which has been given, revoke the license while so suspended, and shall notify the licensee in writing of such revocation or suspension, and shall publish a notice of such revocation or suspension in such manner as he may deem necessary for the protection of the public.
V. The commissioner may at any time require such information as he deems necessary as to the business methods, policies and transactions of a licensee under this section. Any person, corporation, partnership or association who fails or refuses to furnish the commissioner, in such form as he may require, any such information within 10 days after receiving a written request therefor shall be subject to suspension or revocation of his license or an administrative fine of not more than $2,500, or both a fine and suspension or revocation.
Source.
1986, 58:1. 2000, 315:15, 26, XXVI. 2008, 18:15, eff. July 11, 2008.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:44-c - Appeal.

405:44-c Appeal. –
Any person, corporation, partnership or association aggrieved by the action of the commissioner in revoking, suspending or refusing to grant or reissue a license may file an appeal in accordance with the provisions of RSA 541.
Source.
1986, 58:1, eff. July 1, 1986.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:44-d - Unenforceable Contracts or Agreements.

405:44-d Unenforceable Contracts or Agreements. –
Any contract or agreement with an insurance consultant shall not be enforceable by him unless it is in writing and executed, in duplicate, by the person to be charged or by his legal representative, or unless one of such duplicates is delivered to, or retained by, such person when it is signed by him, or unless it plainly specifies the amount of the fee paid or payable by such person and the services to be rendered by such insurance consultant, or unless it is in a form currently approved by the commissioner.
Source.
1986, 58:1, eff. July 1, 1986.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 405 - Foreign Insurance Companies and Their Agents › Section 405:44-e - Required Acknowledgments.

405:44-e Required Acknowledgments. –
An insurance consultant who furnishes any advice or counsel as such consultant, makes any recommendation or gives any information except under the terms of a previously executed written contract conforming to RSA 405:44-d and in full force and effect shall, in every case, give to the recipient a statement in writing, signed by him, in a form currently approved by the commissioner, specifying the advice, counsel, recommendation or information given, and a receipt, in a form currently approved by the commissioner, for the fee paid to him or a statement, in a form currently approved by the commissioner, of the fee to be received by him. Any person, corporation, partnership or association who violates any provision of this section shall be subject to suspension or revocation of his or its license or an administrative fine of not more than $2,500, or both a fine and suspension or revocation.
Source.
1986, 58:1, eff. July 1, 1986.