reglab/statecodes huggingface dataset:
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411 - Domestic Life Insurance Companies › Section 411:4 - Annual Statement.

411:4 Annual Statement. –
The president or vice-president, and secretary or actuary, or a majority of the trustees or directors, of every life insurance company organized under the laws of this state, shall annually, on January 1, or within 60 days thereafter, prepare under oath and deposit in the office of the insurance commissioner, a statement of the condition of such company on December 31 of the preceding year, showing:
I. Name and where located, the names of the officers, the amount of capital stock, and amount of capital stock paid in.
II. The value of real estate owned by such company, the amount of cash on hand, the amount of cash deposited in banks or trust companies, giving names of depositaries, the amount of unreported and deferred premiums, the amount of stocks and bonds, giving names and amounts, with the par and market value of each kind, the amount of loans secured by first mortgage on real estate, the amount of all other loans, and how secured, with the rate of interest, the amount of premium notes on policies in force, the amount of notes given for unpaid stock, and how secured, the amount of interest due and unpaid, and all other assets.
III. The amount of losses due and unpaid, the amount of losses adjusted but not due, the amount of losses unadjusted, the amount of claims for losses resisted, the amount of money borrowed and the amount required to safely reinsure all outstanding risks according to the American Experience Table of Mortality, and 3
1/2 percent interest per annum, or the actuaries' combined experience table with the same rate of interest.
IV. The amount of cash premiums and premium notes received, the amount of interest received from all sources during the year, and the amount received from all other sources.
V. The amount paid for losses, the amount of dividends paid to policyholders and to stockholders, the amount of commissions and salaries paid to agents, the amount paid to officers for salaries, the amount paid for taxes, and the amount of all other payments and expenditures.
VI. The greatest amount insured on any one life, the amount deposited in other states and territories as security for policyholders therein, stating the amount in each state or territory, the amount of premiums received in this state during the year, the amount paid for losses in this state during the year, the whole number of policies issued during the year, with the amount of insurance effected thereby, and total amount of insurance at risk.
Source.
1913, 42:3. PL 278:4. RL 328:4.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411 - Domestic Life Insurance Companies › Section 411:5 - Additional Inquiries.

411:5 Additional Inquiries. –
The commissioner is authorized to amend the form of annual statement, and to propose such additional inquiries as he may think necessary to elicit a full exhibit of the standing of such companies.
Source.
1913, 42:3. PL 278:5. RL 328:5.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411 - Domestic Life Insurance Companies › Section 411:6 - Policy Reserves.

411:6 Policy Reserves. –
As soon as practicable after the filing of said annual statement the commissioner shall determine the reserves for all policies of each such company in force on December 31 immediately preceding, in accordance with the provisions of RSA 410.
Source.
1913, 424:4. PL 278:6. RL 328:6. RSA 411:6. 1963, 70:1, eff. July 9, 1963.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411 - Domestic Life Insurance Companies › Section 411:7 - Making Valuation.

411:7 Making Valuation. –
For the purpose of making such valuation the commissioner may employ a competent actuary, who shall be paid by the company for which the services are rendered; but nothing herein shall prevent any company from making said valuation herein contemplated, which may be received by the commissioner upon such proof as he may determine.
Source.
1913, 42:4. PL 278:7. RL 328:7.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411 - Domestic Life Insurance Companies › Section 411:8 - Security Deposit.

411:8 Security Deposit. –
The commissioner shall require a domestic insurance company to make a deposit in trust in an amount necessary, in the discretion of the commissioner for the protection of the company's policyholders, provided that the required deposit shall not exceed the greater of $1,000,000 or the amount of deposits required under RSA 402:73.
Source.
1913, 42:4. PL 278:8. 1933, 80:1. RL 328:8. RSA 411:8. 1963, 70:2. 1978, 11:5. 1987, 246:1, eff. May 18, 1987.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411 - Domestic Life Insurance Companies › Section 411:11 - Certificate.

411:11 Certificate. –
Upon receipt of a deposit in trust from any such company, as required or allowed by the laws of this state, the commissioner shall issue upon the request of such company a certificate which shall set forth the corporate name of the company, its principal office, that a deposit for the protection of all its policyholders has been duly made, the amount of securities so deposited and that it is authorized to transact the business of life insurance.
Source.
1913, 42:5. 1917, 20:3. PL 278:11. RL 328:11. RSA 411:11. 1963, 70:4. 1987, 246:2, eff. May 18, 1987.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411 - Domestic Life Insurance Companies › Section 411:12 - Noncompliance.

411:12 Noncompliance. –
Upon the failure of any company organized or doing business under this chapter to make the deposit required under RSA 411:8 the commissioner shall notify such company to issue no new policies until there shall have been compliance with said requirement.
Source.
1913, 42:6. PL 278:12. RL 328:12. RSA 411:12. 1987, 246:6, eff. May 18, 1987.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411 - Domestic Life Insurance Companies › Section 411:13 - Change of Securities, Etc.

411:13 Change of Securities, Etc. –
Any such company making a deposit in trust shall have the right at any time to change their securities on deposit by substituting for those withdrawn a like amount in other securities of the character described in RSA 411-A.
Source.
1913, 42:9. PL 278:13. RL 328:13. RSA 411:13. 1987, 246:3, eff. May 18, 1987.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411 - Domestic Life Insurance Companies › Section 411:14 - Collection of Interest.

411:14 Collection of Interest. –
The commissioner shall permit companies, having on deposit with him stocks or bonds as security, to collect the dividends or interest accruing on such deposits, delivering to their authorized agents, respectively, the coupons or other evidences of interest as the same become due; but upon default by any company to deposit additional security as called for by the commissioner, or pending any proceedings to close up or enjoin it, the commissioner shall collect the dividends and interest as they become due and add the same to the securities in his hands belonging to such company.
Source.
1913, 42:13. PL 278:14. RL 328:14.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411 - Domestic Life Insurance Companies › Section 411:15 - to 411:19 Repealed by 1978, 11:7, eff. July 1, 1978.

411:15 to 411:19 Repealed by 1978, 11:7, eff. July 1, 1978. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411 - Domestic Life Insurance Companies › Section 411:20 - to 411:27 Repealed by 1969, 272:3, eff. June 23, 1969.

411:20 to 411:27 Repealed by 1969, 272:3, eff. June 23, 1969. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411 - Domestic Life Insurance Companies › Section 411:28 - Acting Without Certificate.

411:28 Acting Without Certificate. –
Any such company, doing or attempting to do life insurance business without a certificate as provided for in this chapter, shall forfeit $ 100 for every day it continues to write new business in this state without such certificate.
Source.
1913, 42:14. PL 278:29. RL 328:27.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411 - Domestic Life Insurance Companies › Section 411:29 - Suits for Penalties.

411:29 Suits for Penalties. –
Suits to recover any of the penalties provided for in this chapter shall be instituted in the name of the state on relation of the attorney general, under the direction and by the authority of the commissioner. Said penalties shall be paid to the state.
Source.
1913, 42:15. PL 278:30. RL 328:28.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411 - Domestic Life Insurance Companies › Section 411:30 - Transfer of Risks, Etc.

411:30 Transfer of Risks, Etc. –
No such corporation shall transfer its risks, or any part thereof, to, or reinsure its risks, or any part thereof, except reinsurance effected in the ordinary course of business, in any insurance corporation, association or society which is not at the time of such transfer or reinsurance authorized to do business in this state.
Source.
1913, 42:19. 1919, 19:1. PL 278:31. RL 328:29.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411 - Domestic Life Insurance Companies › Section 411:31 - Change of Payee, Etc.

411:31 Change of Payee, Etc. –
The insured in any such corporation shall have the right at any time, with the consent of such corporation, to make a change in his payee or beneficiary without requiring the consent of such payee or beneficiary; provided, that such policy has not been assigned as security for debt or other legal consideration.
Source.
1913, 42:20. PL 278:32. RL 328:30.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411 - Domestic Life Insurance Companies › Section 411:32 - Negotiation of Insurance.

411:32 Negotiation of Insurance. –
No insurance shall be negotiated in this state by or on behalf of any such company except by agents or brokers who shall be qualified, appointed and licensed in accordance with the law.
Source.
1913, 42:22. 1917, 20:4. PL 278:33. RL 328:31.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411 - Domestic Life Insurance Companies › Section 411:33 - Application of Chapter.

411:33 Application of Chapter. –
Nothing in this chapter shall affect life insurance companies, associations or societies or accident insurance companies doing business on the assessment plan.
Source.
1913, 42:21. PL 278:34. RL 328:32.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:1 - Purpose and Construction of Chapter.

411-A:1 Purpose and Construction of Chapter. –
I. The purpose of this chapter is to protect the interest of insurers and the public, by providing standards for the investment of the assets of life insurance companies, which standards seek an appropriate balance of the following objectives: safety of principal, maximum appreciation and yield, stability of value, sufficient liquidity and reasonable diversification.
II. This chapter shall be liberally construed to achieve the objectives of paragraph I.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:2 - Scope of Chapter.

411-A:2 Scope of Chapter. –
Except as provided in RSA 411-A:36, this chapter applies to domestic life insurance companies only.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:3 - Eligible Investments.

411-A:3 Eligible Investments. –
I. Insurers shall invest in or lend their funds on the security of, and shall hold as invested assets, only eligible investments as prescribed in this chapter.
II. Any investment made or acquired by an insurer prior to July 1, 1978, which investment was permitted by statute at the time it was made, and which investment the insurer was legally entitled to possess on June 30, 1978, shall be deemed to be an eligible investment.
III. Eligibility of any investment made or acquired on or after July 1, 1978, shall be determined in accordance with the provisions of this chapter and shall be determined as of the date of its making or acquisition.
IV. Any investment limitation based upon the amount of the insurer's assets or particular funds shall relate to such assets or funds as shown by the insurer's annual statement as of the December 31 next preceding the date of acquisition of the investment by the insurer, or as shown by a current financial statement resulting from merger of another insurer, bulk reinsurance, or change in capitalization.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:4 - General Qualifications.

411-A:4 General Qualifications. –
I. Unless specifically authorized by a provision of this chapter, no security investment shall be eligible for acquisition, unless it is interest bearing or interest accruing or entitled to dividends or is otherwise income earning, is not then in default in any respect, and the insurer is entitled to receive for its exclusive account and benefit the interest or income accruing thereon. A debt security will be considered to be income earning where, although bearing no fixed or contingent interest, it is issued at a discount and contains a specific maturity date on which redemption is to be made at a stated value. Stocks will be considered income earning although dividends are currently not being paid. Nothing in this section shall prohibit the acquisition by an insurer of warrants, options or similar rights to acquire securities if the acquisition of such securities would then be permitted by the provisions of this chapter (other than RSA 411-A:30); or if such warrants, options or similar rights are acquired in connection with an investment otherwise permitted by this chapter.
II. Nothing in this chapter shall prohibit the acquisition by an insurer of other or additional securities or property if received as a dividend or as a lawful distribution of assets, or upon a debt or judgment, or under a lawful and bona fide agreement of bulk reinsurance, merger or consolidation, or if acquired by it through the exercise of warrants, options or similar rights to acquire securities received by it in accordance with this chapter. Nothing in this chapter shall prevent any insurer from entering into an agreement for the purpose of protecting the interests of the insurer in securities lawfully held by it, or for the purpose of reorganization of a corporation which issued securities so held, and from depositing such securities with a committee or depositaries appointed under such agreement, nor from accepting stock, bonds or other securities or other property which may be distributed pursuant to any such agreement, or to any plan of reorganization or arrangement; and no provision of this chapter shall prevent any insurer from acquiring or holding any property acquired in satisfaction of any debt previously contracted, or that shall be obtained by sale or foreclosure of any security held by it. Any security or property so acquired which is not otherwise an eligible investment under this chapter shall be disposed of pursuant to RSA 411-A:32 or 411-A:33.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:5 - Authorization; Record of Investments.

411-A:5 Authorization;  Record of Investments. –
An insurer shall not make any investment of loan, other than policy loans or annuity contract loans, unless the same is authorized or approved by the insurer's board of directors; provided however, that nothing in this chapter shall prohibit an insurer's board of directors from delegating its authority to make and acquire investments and loans. The insurer shall maintain a full record of each investment.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:6 - Diversification.

411-A:6 Diversification. –
I. An insurer shall not at any one time have any combination of investments in or loans upon the security of obligations, property or securities of any one municipal corporation, institution, person or corporation (other than its lawful subsidiary) aggregating over 10 percent of the insurer's assets. This shall not apply as to general obligations of, or obligations guaranteed by, the United States, its agencies or government sponsored enterprises, or of any state, or of Canada or any province thereof, or include policy loans made under RSA 411-A:27.
II. An insurer shall not invest in or hold at any one time more than 10 percent of the outstanding voting stock of any corporation, except as to voting rights of preferred stock during default of dividends. This does not apply as to stock of a subsidiary of the insurer acquired under RSA 411-A:13 or to controlling stock of an insurer acquired under RSA 411-A:12, II.
III. An insurer shall invest and have invested at any one time in aggregate amount not more than 10 percent of admitted assets in all stocks, investment in which is permitted under RSA 411-A:11, 411-A:12 and 411-A:14, and not more than 20 percent of its assets in stocks referred to in RSA 411-A:10. For the purposes of this paragraph stocks shall be valued at cost. This provision shall not apply to stock of controlled or subsidiary corporations or money market mutual funds.
IV. An insurer shall not at any one time have more than 50 percent of its assets invested in obligations secured by mortgages of real property, exclusive of that portion of such obligations guaranteed or insured by an agency or government sponsored enterprise of the United States government. For the purposes of this paragraph, mortgages shall be valued at book value.
Source.
1978, 11:1. 2009, 186:8, eff. Jan. 1, 2010.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:7 - Public Obligations.

411-A:7 Public Obligations. –
An insurer may invest in bonds or other evidences of indebtedness, not in default as to principal or interest, which are valid and legally authorized obligations issued, assumed or guaranteed by the United States or by any state thereof, or by Canada or any of the provinces thereof, or by any county, city, town, village, municipality or district therein or by any political subdivision thereof or by a public instrumentality of one or more of the foregoing, if, by statutory or other legal requirements applicable thereto, such obligations are payable, as to both principal and interest, from taxes levied or required to be levied upon all taxable property or all taxable income within the jurisdiction of such governmental unit, or from adequate special revenues pledged or otherwise appropriated or by law required to be provided for the purpose of such payment.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:8 - Obligations and Stock of Certain Federal and International Agencies.

411-A:8 Obligations and Stock of Certain Federal and International Agencies. –
An insurer may invest in obligations and stock which are stated, issued, assumed or guaranteed by the following agencies of the government of the United States:
I. Farm Loan Bank.
II. Commodity Credit Corporation.
III. Federal intermediate credit banks.
IV. Federal land banks.
V. Central Bank for Cooperatives.
VI. Federal home loan banks, and stock thereof.
VII. Federal National Mortgage Association, and stock thereof.
VIII. Government National Mortgage Association.
IX. International Bank for Reconstruction and Development.
X. Inter-American Development Bank.
XI. Asian Development Bank.
XI-a. African Development Bank.
XII. Federal Home Loan Mortgage Corporation.
XIII. Any other similar agency of, or participated in by, the government of the United States and of similar financial quality.
Source.
1978, 11:1. 1990, 21:2. 2009, 186:9, eff. Jan. 1, 2010.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:9 - Corporate Obligations.

411-A:9 Corporate Obligations. –
An insurer may invest in bonds, debentures, notes, mortgage-backed securities, asset-backed securities, and other evidences of indebtedness issued, assumed or guaranteed by any solvent institution created or existing under the laws of the United States or Canada or of any state, district, province or territory thereof, which are not in default as to principal or interest.
Source.
1978, 11:1. 2009, 186:10, eff. Jan. 1, 2010.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:10 - Preferred or Guaranteed Stock.

411-A:10 Preferred or Guaranteed Stock. –
An insurer may invest in preferred or guaranteed stocks or shares of any solvent institution existing under the laws of the United States or of Canada, or of any state or province thereof.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:11 - Common Stocks; Limited Partnerships.

411-A:11 Common Stocks;  Limited Partnerships. –
An insurer may invest in common stocks of any solvent institution organized and existing under the laws of the United States or Canada, or of any state or province thereof, if such institution has had net earnings available for dividends on such stock in at least 5 of the 7 fiscal years next preceding acquisition by the insurer. As used in this section the term "common stock" includes transferable certificates of participation in business trusts. An insurer may invest in or otherwise acquire and hold a limited partnership interest in any limited partnership formed pursuant to the laws of any state or the United States. No limited partnership interest shall be acquired under this section if the cost thereof would exceed 2 percent of the assets of such insurer nor if such cost, plus the book value on the date of such acquisition of all limited partnership interests then held by such insurer and acquired under this section, would exceed 10 percent of such assets.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:12 - Insurance Stocks.

411-A:12 Insurance Stocks. –
I. An insurer may, within the limitations set forth in RSA 401-B:2, invest in the stocks of any solvent insurance company formed under the laws of this or another state, provided that such stocks meet the applicable requirements of RSA 411-A:10 or 411-A:11.
II. With the commissioner's advance written consent an insurer may acquire and hold the controlling interest in the outstanding voting stock of a stock insurer formed under the laws of this or another state. The commissioner shall not give his consent if he finds that such acquisition would not be in the best interests of the insurers involved, or of their respective policyholders or stockholders, or that it would lessen competition in the insurance business.
III. An insurer may invest not more than 5 percent of its assets in the stock of any company owning or holding the stock of any life insurance company or companies.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:13 - Stock of Subsidiaries.

411-A:13 Stock of Subsidiaries. –
I. An insurer may, within the limitations set forth in RSA 401-B:2, invest in the stock of its subsidiary insurance corporation formed or acquired by it; or in the stock of its subsidiary business corporation or corporations formed and engaged solely in any one or more of the following businesses:
(a) Any business necessary and incidental to the convenient operation of the insurer's insurance business, or to the administration of any of its lawful affairs, or to the service or benefit of its policyholders;
(b) Any business providing actuarial, computer, data processing, accounting, claims, appraisal, collection, or similar services;
(c) Real estate management and development;
(d) Premium financing;
(e) Financing agents of the insurer;
(f) Acting as investment adviser or principal underwriter of an investment company or companies, registered as such under the Investment Company Act of 1940;
(g) Financial and investment counseling services;
(h) Administration of self-insurance plans;
(i) Administration of self-insured pension and similar plans, or the self-insured portions of such plans;
(j) Acting as administrative agent for a government instrumentality which is performing an insurance function;
(k) Securities broker-dealer;
(l) Escrow services;
(m) Trust services with respect to funds payable or paid by it under its insurance contracts.
II. For the purposes of this section a "subsidiary" is a corporation of which the insurer owns sufficient stock to give it effective control.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:14 - Mutual Funds.

411-A:14 Mutual Funds. –
An insurer may invest in the securities of any open-end or closed-end management type investment company or investment trust registered with the Federal Securities and Exchange Commission under the Investment Company Act of 1940 (15 U.S.C. section 80a-1 et seq.) as from time to time amended, if such investment company or trust has assets of not less than $25,000,000 as at date of investment by the insurer.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:15 - Trustees' or Receivers' Obligations.

411-A:15 Trustees' or Receivers' Obligations. –
An insurer may invest in certificates, notes or other obligations issued by trustees or receivers of any institution created or existing under the laws of the United States or of any state, district or territory thereof, which, or the assets of which, are being administered under the direction of any court having jurisdiction, if such obligation is adequately secured as to principal and interest.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:16 - Acceptances, Bills of Exchange.

411-A:16 Acceptances, Bills of Exchange. –
An insurer may invest in those bank and bankers' acceptances and other bills of exchange which are eligible for purchase in the open market by federal reserve banks.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:17 - Equipment Trust Certificates.

411-A:17 Equipment Trust Certificates. –
An insurer may invest in equipment trust obligations or certificates which are adequately secured, or in other adequately secured instruments evidencing an interest in transportation equipment wholly or in part within the United States or Canada and a right to receive determined portions of rental, purchase or other fixed obligatory payments for the use or purchase of such transportation equipment.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:18 - Bank Deposits.

411-A:18 Bank Deposits. –
An insurer may have any of its cash funds on deposit in checking or savings accounts, under certificates of deposit, or in any other form in solvent banks or trust companies.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:19 - Savings and Share Accounts.

411-A:19 Savings and Share Accounts. –
An insurer may invest in share or savings accounts of savings and loan or building and loan associations to the extent that the investment is insured by the Federal Savings and Loan Insurance Corporation or the Federal Deposit Insurance Corporation.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:20 - Hydrocarbon Production Payments.

411-A:20 Hydrocarbon Production Payments. –
An insurer may invest in production payments, or interests therein evidenced by trust certificates or other instruments, payable from oil, gas or other hydrocarbons in producing properties located in the United States or the adjacent continental shelf if an obligation secured by and payable from such production payment or interest therein would qualify for investment under RSA 411-A:9 as an obligation which is adequately secured and has investment qualities and characteristics wherein the speculative elements are not predominant. For purposes of this section "production payments" shall be deemed to mean right to oil, gas or other hydrocarbons in place or as produced which entitle the owner thereof to a specified fraction or percentage of production until a specified sum of money has been received.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:21 - Real Estate Mortgages.

411-A:21 Real Estate Mortgages. –
I. An insurer may invest in bonds or notes secured by mortgages or deeds of trust representing first liens upon unencumbered improved real property located in the United States or Canada, including leasehold estates having an unexpired term of not less than 21 years, inclusive of the term or terms which may be provided by enforceable options of renewal, subject to the following conditions:
(a) The amount loaned or the aggregate amount of bonds issued upon the security of a mortgage or deed of trust shall not at the time of the investment exceed 75 percent of the fair market value of the real estate, as such value has been determined by a qualified appraiser. An appraiser shall be presumed to be qualified if he or she is a member in good standing of the American Institute of Appraisers or any other similar professional organization.
(b) In applying the limitation under subparagraph (a), there may be excluded from the amount invested that portion of the investment which is guaranteed by the secretary of veterans' affairs pursuant to the Servicemen's Readjustment Act of 1944 (38 U.S.C. section 1801 et seq.), as amended, or insured by the United States secretary of housing and urban development or other United States or Canadian government agency.
(c) Insurance not less comprehensive than fire and extended coverage must be carried on the improvements on the real estate, in an amount not less than 75 percent of the insurable value of the improvements or the unpaid balance of the investment, whichever is the lesser amount, and the policy or policies evidencing such insurance shall be endorsed to show the interest of the lender.
(d) No mortgage loan upon a leasehold made or acquired by an insurer pursuant to this section shall permit amortization over a period exceeding 4/5 of the lease term remaining at the time of the loan.
II. For the purpose of this section real estate shall not be deemed to be encumbered by reason of the existence of taxes or assessments which are not delinquent, instruments creating or reserving mineral, oil or timber rights, rights-of-way, joint driveways, sewer rights, rights in walls, or by reason of building restrictions or other restrictive covenants, or when such real estate is subject to lease in whole or in part whereby rents or profits are reserved to the owner.
III. In addition to the foregoing and supplemental to RSA 411-A:30 an insurer may, to an aggregate amount not in excess of 5 percent of the assets of such insurer, make and hold loans upon real property, including leasehold estates therein, in any state of the United States, or in the District of Columbia or Puerto Rico, or in any province of the Dominion of Canada, notwithstanding the fact that such loans and the mortgages securing the same do not comply with the provisions of this section.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:22 - Purchase Money Mortgages.

411-A:22 Purchase Money Mortgages. –
An insurer may invest in purchase money mortgages or like securities, received by it upon the sale or exchange of real property theretofore owned by it, not subject to the limitations of RSA 411-A:21.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:23 - Real Estate.

411-A:23 Real Estate. –
I. Except as provided in RSA 411-A:25, an insurer may invest in real estate only if used for the purposes or acquired in the manner, and within the limits, as follows:
(a) The building in which it has its principal office, the land upon which the building stands, and such other real estate as may be requisite for the insurer's convenient accommodation in the transaction of its business. The amount so invested shall not aggregate more than 10 percent of the insurer's assets.
(b) Real estate acquired in satisfaction of loans, mortgages, liens, judgments, decrees or debts previously owing to the insurer in the due course of its business.
(c) Real estate acquired in part payment of the consideration on the sale of other real estate owned by it, if such transaction shall have effected a net reduction in the insurer's investments in real estate.
(d) Real estate acquired by gift or devise, or through merger, consolidation or bulk reinsurance of another insurer under this chapter.
(e) The seller's interest in real estate subject to an agreement of purchase or sale, but the sum invested in any such interest shall not exceed 2/3 of the fair market value of such parcel.
(f) Additional real estate and equipment incident thereto, if necessary or convenient for the purpose of enhancing the sale or other value of real estate previously acquired or held under this section. Such real estate and equipment, together with the real estate for the enhancement of which it was acquired, shall be included, for the purpose of applicable investment limits, and shall be subject to disposal under RSA 411-A:32 at the same time and under the same conditions as apply to such enhanced real estate.
(g) Improved real estate, or any interest therein, acquired or held by purchase, lease or otherwise, acquired as an investment for production of income, or acquired to be improved or developed for such investment purposes pursuant to an existing program therefor. The insurer may hold, mortgage, improve, develop, maintain, manage, lease, sell, convey and otherwise dispose of real estate acquired by it under this provision.
(h) Real estate acquired pursuant to an insurer's employee relocation program as permitted by RSA 402:28.
II. For the purposes of RSA 411-A:21 and this section, "improved" real estate means:
(a) Farmland used for tillage, crop or pasture;
(b) Real estate on which permanent improvements, or improvements under construction or in process of construction, suitable for residence, residential, recreational, institutional, commercial or industrial use, are situated; and
(c) Real estate to be developed for the use or uses set forth in the previous paragraph, on which improvements, or improvements under construction or in process of construction, such as streets, sidewalks, sewers and utilities which will become an integral part of such development, are situated or abut.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:24 - Housing Developments.

411-A:24 Housing Developments. –
To the extent and upon such conditions as may be authorized by the commissioner, an insurer may invest in stock and evidences of indebtedness of any housing company or redevelopment company organized under the private housing finance law of this or any other state, or of any corporation organized for the purpose of owning and operating any housing project under laws expressly designed to promote the provision of housing for persons of low and moderate income, or in the securities of any corporation organized under the laws of this or any other state for the purpose of owning, acquiring or holding real property or any interest therein as an investment for the production of income or to be developed or improved for such investment purpose, if all of the stock other than directors' qualifying shares of such housing company, redevelopment company or corporation has been or is to be originally issued to one or more insurers, whether domestic or foreign. Investments made pursuant to this section shall not be subject to the requirements of RSA 411-A:11.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:25 - Leased Property.

411-A:25 Leased Property. –
An insurer may invest in personal or real property owned either by the insurer or by a trustee, while under lease to a lessee.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:26 - Data Processing Systems.

411-A:26 Data Processing Systems. –
An insurer may purchase and hold electronic computers and mechanical machines and equipment constituting a data processing and accounting system, provided that the cost thereof shall be amortized in not more than 10 years, and provided further that the unamortized cost thereof shall not at any time exceed one percent of the insurer's admitted assets without the approval of the commissioner.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:27 - Policy Loans.

411-A:27 Policy Loans. –
An insurer may lend to a policyholder, upon pledge of the policy as collateral security, any sum not exceeding the cash surrender value of the policy; or may lend against pledge or assignment of any of its supplementary contracts or other contracts or obligations, so long as the loan is adequately secured by such pledge or assignment.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:28 - Collateral Loans.

411-A:28 Collateral Loans. –
An insurer may lend its funds upon the pledge of securities eligible for investment under this chapter. No such loan shall exceed the market value of such collateral pledged.
Source.
1978, 11:1. 2009, 186:11, eff. Jan. 1, 2010.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:30 - Miscellaneous Investments.

411-A:30 Miscellaneous Investments. –
I. An insurer may make loans or investments not otherwise expressly permitted under this chapter and may make loans or investments in amounts in excess of limits set forth in this chapter, in an aggregate amount not over 10 percent of the insurer's assets, if such loan or investment qualifies as a sound investment. No such loan or investment shall be represented by loans or investments expressly prohibited by statute or by regulation.
II. The insurer shall keep a record of all loans and investments made under this section.
Source.
1978, 11:1. 2009, 186:13, eff. Jan. 1, 2010.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:31 - Conversion and Incidental Rights.

411-A:31 Conversion and Incidental Rights. –
Nothing in this chapter shall be deemed to prohibit an insurer from making an investment otherwise authorized under this chapter, because the investment is convertible into other securities in which the insurer is not permitted to invest under this chapter, or because the insurer receives in connection with such investment stock warrants, whether or not detachable, stock options, stock, property interests or other assets of any kind. Anything so received by the insurer and in which the insurer is otherwise not authorized to invest shall be carried on its books at no value.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:32 - Time Limit for Disposal of Real Estate.

411-A:32 Time Limit for Disposal of Real Estate. –
I. Except as stated in paragraph II, or unless the insurer elects to hold the real estate as an investment under RSA 411-A:23, I(g):
(a) An insurer shall dispose of real estate acquired under RSA 411-A:23, I(a) within 5 years after it has ceased to be necessary for the convenient accommodation of the insurer in the transaction of its business.
(b) An insurer shall dispose of real estate acquired under RSA 411-A:23, I(b) through (e) within 5 years after the date of acquisition, unless used or to be used for the insurer's accommodation under RSA 411-A:23, I(a).
II. Upon satisfactory proof that the interests of the insurer will suffer materially by the forced sale thereof, the commissioner may by order grant a reasonable extension of the period, as specified in such order within which the insurer shall dispose of any particular parcel of such real estate. In the alternative, the insurer may continue to hold real estate beyond the limits provided in this section and include such real estate in the category of miscellaneous investments, pursuant to RSA 411-A:30.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:33 - Time Limit for Disposal of Other Ineligible Property and Securities.

411-A:33 Time Limit for Disposal of Other Ineligible Property and Securities. –
Any personal property or securities lawfully acquired by an insurer, which it could not otherwise have invested in or loaned its funds upon at the time of such acquisition, shall be disposed of within 5 years from date of acquisition, unless within such period the security has attained the standard of eligibility; except, that any security or personal property acquired under any agreement of bulk reinsurance, merger or consolidation may be retained for a longer period if so provided in the plan for such reinsurance, merger or consolidation as approved by the commissioner. The commissioner may by order grant, from time to time, reasonable extensions of the period, as specified in any such order, within which an insurer shall dispose of any such property or security. Nothing in this section shall be deemed to prohibit an insurer from holding property beyond the time limits provided, if such property is listed as a miscellaneous investment.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:34 - Failure to Dispose of Real Estate or Securities; Effect; Penalty.

411-A:34 Failure to Dispose of Real Estate or Securities;  Effect;  Penalty. –
I. Any real estate, personal property, or securities lawfully acquired and held by an insurer after expiration of the period for disposal thereof or any extension of such period granted by the commissioner as provided in RSA 411-A:32 and 411-A:33 shall not be allowed as an asset of the insurer, unless such real estate, personal property or securities are maintained by the insurer as miscellaneous investments.
II. The insurer shall forthwith dispose of any ineligible investment unlawfully acquired by it. If the insurer fails to dispose of the investment within a reasonable time, the commissioner may, upon hearing, suspend or revoke said insurer's certificate of authority or license for a period not to exceed 3 years, impose an administrative fine in lieu of such suspension or revocation, or take such other administrative action against the offending company as the commissioner, in his discretion, may determine.
Source.
1978, 11:1, eff. July 1, 1978.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 411-A - Regulation of Investments of Life Insurance Companies › Section 411-A:35 - Prohibited Investment and Investments Underwriting.

411-A:35 Prohibited Investment and Investments Underwriting. –
I. In addition to investments excluded pursuant to other provisions of this chapter, an insurer shall not invest in or lend its funds upon the security of:
(a) Issued shares of its own capital stock, except:
(1) For the purpose of mutualization; or
(2) For retirement; or
(3) Pursuant to a written plan for such investment or loan which plan shall be subject to the approval of the commissioner.
(b) Securities issued by any corporation or enterprise the controlling interest of which is, or will after such acquisition by the insurer be, held directly or indirectly by the insurer or any combination of the insurer and the insurer's directors, officers, subsidiaries, or controlling stockholders, and the spouses and children of any of the foregoing individuals. For purposes of this section, "controlling interest" shall be deemed to mean ownership of more than 50 percent of a corporation's stock. Investments in controlled insurance corporations or subsidiaries under RSA 411-A:12 and 411-A:13 are not subject to this provision.
(c) Any note or other evidence of indebtedness of any director, officer or controlling stockholder of the insurer or of the spouse or child of any of the foregoing except as to policy loans authorized under RSA 411-A:27 and except as to mortgage loans authorized under RSA 402:28.
II. No insurer shall underwrite or participate in the underwriting of an offering of securities or property of any other person. This provision shall not be deemed to prohibit:
(a) The acquisition and ownership by the insurer of its subsidiary corporation acting as investment adviser or principal underwriter of a management company or investment company registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended.
(b) The registration by the insurer, under the Securities Act of 1933 or other applicable law, of restricted or other securities acquired and owned by it in regular course of business.
III. No insurer shall enter into any agreement to withhold from sale any of its securities or property, and the disposition of its assets shall at all times be within the control of the insurer.
Source.
1978, 11:1, eff. July 1, 1978.