reglab/statecodes huggingface dataset:
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-N - Pharmacy Benefits Managers › Section 402-N:1 - Definitions.

402-N:1 Definitions. –
In this chapter:
I. "Claims processing services" means the administrative services performed in connection with the processing and adjudicating of claims relating to pharmacist services that include:
(a) Receiving payments for pharmacist services.
(b) Making payments to pharmacists or pharmacies for pharmacist services.
II. "Commissioner" means the commissioner of the insurance department.
III. "Health carrier" means "health carrier" as defined in RSA 420-J:3, XXIII.
IV. "Health benefit plan" means "health benefit plan" as defined in RSA 420-J:3, XIX.
V. "Pharmacist" means an individual licensed as a pharmacist by the pharmacy board.
VI. "Pharmacist services" means products, goods, and services, or any combination of products, goods, and services, provided as a part of the practice of pharmacy.
VII. "Pharmacy" means the place licensed by the pharmacy board in which drugs, chemicals, medicines, prescriptions, and poisons are compounded, dispensed, or sold at retail.
VIII. (a) "Pharmacy benefits manager" means a person, business, or other entity, including a wholly or partially owned or controlled subsidiary of a pharmacy benefits manager, that, pursuant to a contract with a health carrier, manages the prescription drug coverage provided by the health carrier, including, but not limited to, providing claims processing services for prescription drugs, performing drug utilization review, processing drug prior authorization requests, adjudication of grievances or appeals related to prescription drug coverage, contracting with network pharmacies, and controlling the cost of covered prescription drugs.
(b) "Pharmacy benefits manager" shall not include any:
(1) Health care facility licensed in this state;
(2) Health care professional licensed in this state;
(3) Consultant who only provides advice as to the selection or performance of a pharmacy benefits manager;
(4) Service provided to the Centers for Medicare and Medicaid Services; or
(5) Health insurer licensed in this state if the health insurer or its subsidiary is providing pharmacy benefits management services exclusively to its own insureds.
IX. "Rebate" means a discount or price concession attributable to the utilization of a prescription drug that is paid by the pharmaceutical manufacturer of the drug directly to a pharmacy benefits manager or health carrier after the pharmacy benefits manager or health carrier processes a claim from a pharmacy for a prescription drug manufactured by such pharmaceutical manufacturer. "Rebate" shall not include bona fide service fees, administrative fees, or any other amount which does not qualify as a rebate under this paragraph.
Source.
2019, 320:2, eff. Jan. 1, 2020.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-N - Pharmacy Benefits Managers › Section 402-N:2 - Registration to do Business; Rulemaking; Penalties.

402-N:2 Registration to do Business;  Rulemaking;  Penalties. –
I. A person or organization shall not establish or operate as a pharmacy benefits manager in this state for health benefit plans without registering with the insurance commissioner under this chapter.
II. The commissioner shall adopt rules pursuant to RSA 541-A relative to:
(a) Prescribing the application format for registration as a pharmacy benefits manager, including a requirement to submit the registrant's corporate charter, articles of incorporation, or other formation documents.
(b) Establishing application fees and renewal fees, not to exceed $500 per year.
(c) Delineating procedures for handling consumer complaints and coordinating with the department's consumer services unit, including supplying designated contact information to enable the department to reach the pharmacy benefits manager regarding consumer complaints.
III. If the commissioner finds after notice and hearing that any person has violated any provision of this chapter, or rules adopted pursuant to this chapter, the commissioner may order:
(a) For each separate violation, a penalty in the amount of $2,500.
(b) Revocation or suspension of the pharmacy benefits manager registration.
Source.
2019, 320:2, eff. Jan. 1, 2020.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-N - Pharmacy Benefits Managers › Section 402-N:3 - Provider Contract Standards for Pharmacy Benefit Managers.

402-N:3 Provider Contract Standards for Pharmacy Benefit Managers. –
I. All contracts between a carrier or pharmacy benefit manager and a contracted pharmacy shall include:
(a) The sources used by the pharmacy benefit manager to calculate the drug product reimbursement paid for covered drugs available under the pharmacy health benefit plan administered by the carrier or pharmacy benefit manager.
(b) A process to appeal, investigate, and resolve disputes regarding the maximum allowable cost pricing. The process shall include the following provisions:
(1) A provision granting the contracted pharmacy or pharmacist at least 30 business days following the initial claim to file an appeal;
(2) A provision requiring the carrier or pharmacy benefit manager to investigate and resolve the appeal within 30 business days;
(3) A provision requiring that, if the appeal is denied, the carrier or pharmacy benefit manager shall:
(A) Provide the reason for the denial; and
(B) Identify the national drug code of a drug product that may be purchased by contracted pharmacies at a price at or below the maximum allowable cost; and
(4) A provision requiring that, if an appeal is granted, the carrier or pharmacy benefits manager shall within 30 business days after granting the appeal:
(A) Make the change in the maximum allowable cost; and
(B) Permit the challenging pharmacy or pharmacist to reverse and rebill the claim in question.
II. For every drug for which the pharmacy benefit manager establishes a maximum allowable cost to determine the drug product reimbursement, the pharmacy benefit manager shall:
(a) Include in the contract with the pharmacy information identifying the national drug pricing compendia or sources used to obtain the drug price data.
(b) Make available to a contracted pharmacy the actual maximum allowable cost for each drug.
(c) Review and make necessary adjustments to the maximum allowable cost for every drug for which the price has changed at least every 14 days.
III. [Repealed.]
Source.
2019, 320:2, eff. Jan. 1, 2020; 320:7, eff. June 30, 2020.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-N - Pharmacy Benefits Managers › Section 402-N:4 - Prescription Drugs.

402-N:4 Prescription Drugs. –
I. A pharmacy benefits manager or insurer shall require a contracted pharmacy to charge an enrollee or insured person the pharmacy's usual and customary price of filling the prescription or the contracted copayment, whichever is less.
II. Once it has settled a claim for filling a prescription for an enrollee or insured person and notified the pharmacy of the amount the pharmacy benefits manager or insurer shall pay to the pharmacy for that prescription, the pharmacy benefits manager or insurer shall not lower the amount to be paid to the pharmacy by the pharmacy benefits manager or the insurer for such settled claim; provided, however, that this paragraph shall not apply if the claim was submitted fraudulently or with inaccurate or misrepresented information.
Source.
2019, 320:2, eff. Jan. 1, 2020.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-N - Pharmacy Benefits Managers › Section 402-N:4-a - Prohibited Acts.

402-N:4-a Prohibited Acts. –
A pharmacy benefit manager shall not, either directly or indirectly:
I. Prohibit an in-network retail pharmacy from:
(a) Mailing or delivering a prescription drug to an enrollee as an ancillary service of the in-network retail pharmacy provided that confirmation of delivery is obtained.
(b) Charging a shipping or handling surcharge to an enrollee who requests that the in-network retail pharmacy mail or deliver a prescription drug to the enrollee as an ancillary service provided the enrollee receives a disclosure from the in-network retail pharmacy regarding any surcharge to be charged to the patient for the delivery of a prescription drug, including that the surcharge may not be reimbursable by the plan sponsor or pharmacy benefit manager.
(c) Offering the ancillary services described in subparagraph I(a) to an enrollee.
II. Charge an enrollee who uses an in-network retail pharmacy that offers to mail or deliver a prescription drug to an enrollee as an ancillary service a surcharge for the delivery of a prescription drug or copayment that is higher than the surcharge or copayment the enrollee would pay if the enrollee used an in-network retail pharmacy that does not offer to mail or deliver a prescription drug to an enrollee as an ancillary service.
III. For purposes of this section, a retail pharmacy shall not include a "mail-order pharmacy" as defined in RSA 318:1, VII-b.
Source.
2021, 149:1, eff. Sept. 21, 2021.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-N - Pharmacy Benefits Managers › Section 402-N:5 - Complaints Relative to Pharmacy Benefit Managers.

402-N:5 Complaints Relative to Pharmacy Benefit Managers. –
I. Consumers may file a complaint related to a registered pharmacy benefit manager pursuant to RSA 400-A:15-e.
II. The commissioner shall adopt rules, pursuant to RSA 541-A, to implement paragraph I. Such rules shall include procedures for addressing complaints, provisions for enforcement, the receipt of complaints referred to the insurance department under RSA 318:47-h, III(b), and for reporting to the board of pharmacy on the status of complaints referred.
Source.
2019, 320:2, eff. Jan. 1, 2020. 2021, 56:5, eff. July 24, 2021.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-N - Pharmacy Benefits Managers › Section 402-N:6 - Pharmacy Benefits Manager Reporting.

402-N:6 Pharmacy Benefits Manager Reporting. –
I. Each pharmacy benefits manager shall submit an annual report to the commissioner containing a list of health benefit plans it administered, and the aggregate amount of all rebates it collected from pharmaceutical manufacturers that were attributable to patient utilization in the state of New Hampshire during the prior calendar year.
II. Information reported to the commissioner pursuant to this section shall be confidential and protected from disclosure under the commissioner's examination authority and shall not be considered a public record subject to disclosure under RSA 91-A. Based on this reporting, the commissioner shall make public aggregated data on the overall amount of rebates collected on behalf of covered persons in the state, but shall not release data that identifies a specific insurer or pharmacy benefit manager.
Source.
2019, 320:2, eff. Jan. 1, 2020.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-N - Pharmacy Benefits Managers › Section 402-N:7 - Authority to Examine and Directly Bill Pharmacy Benefits Managers for Certain Examinations.

402-N:7 Authority to Examine and Directly Bill Pharmacy Benefits Managers for Certain Examinations. –
The commissioner may examine and directly bill a pharmacy benefits manager required to be registered under this chapter for the costs of any examination pursuant to RSA 400-A:37 as necessary to determine and enforce compliance with this chapter. In addition, if the commissioner finds through an investigation or examination that a carrier has not received information required under RSA 420-J:7-b, XI from a pharmacy benefit manager, the commissioner may require that the pharmacy benefit manager provide the required information, and the commissioner may investigate or examine and directly bill the pharmacy benefit manager for the cost of any portion of the examination or investigation pertaining to obtaining the required information.
Source.
2019, 320:2, eff. Jan. 1, 2020.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-N - Pharmacy Benefits Managers › Section 402-N:8 - Non-Exclusivity.

402-N:8 Non-Exclusivity. –
Nothing in this chapter shall be interpreted to invalidate or render inapplicable any other provision of Title XXXVII that is otherwise applicable to an entity that qualifies as a pharmacy benefit manager under this chapter.
Source.
2019, 320:2, eff. Jan. 1, 2020.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-N - Pharmacy Benefits Managers › Section 402-N:9 - Severability.

402-N:9 Severability. –
If any provision of this chapter or the application of this chapter to any person or circumstance is held invalid, the invalidity shall not affect other provisions or applications of this chapter which can be given effect without the invalid provisions or application, and to this end, the provisions of this chapter are declared severable.
Source.
2019, 320:2, eff. Jan. 1, 2020.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-O - Self-Service Storage Insurance › Section 402-O:1 - Definitions.

402-O:1 Definitions. –
In this chapter:
I. "Commissioner" means the insurance commissioner.
II. "Location" means any physical location in the state of New Hampshire.
III. "Owner" means a business entity that is the owner, lessor, or sublessor of a self-service storage facility, the owner's agent, or any other person authorized by the owner to manage the facility, or to receive rent from a renter. The owner may be a resident or non-resident of this state.
IV. "Personal property" means movable property not affixed to land.
V. "Rental agreement" means any written agreement that establishes or modifies the terms, conditions, or rules concerning the use and occupancy of a rented space at a self-service storage facility.
VI. "Renter" means a person, or any agent or representative of the person, entitled to the use of rented space at a self-service storage facility under a rental agreement to the exclusion of others.
VII. "Self-service storage facility" means any real property designed and used for the purpose of renting or leasing individual storage space in which the renters themselves customarily store and remove their own personal property on a self-service basis. A self-service storage facility is not a warehouse as the term "warehouse" is used in RSA 382-A:7-102.
VIII. "Self-service storage insurance" means personal property insurance offered in connection with and incidental to the rental of a rented space at a self-service storage facility and which provides coverage to renters for the loss of or damage to personal property occurring at the facility or when the property is in transit to or from the facility during the period of the rental agreement.
IX. "Supervising entity" means a business entity that is a licensed admitted insurer or insurance producer licensed under RSA 402-J that is appointed or authorized by an insurer to supervise the administration of a self-service storage insurance program.
Source.
2021, 119:2, Pt. III, Sec. 1, eff. Jan. 1, 2022.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-O - Self-Service Storage Insurance › Section 402-O:2 - Licensure of Owners.

402-O:2 Licensure of Owners. –
I. An owner shall hold a limited lines license to sell or offer coverage for self-service storage insurance at any location in this state. An owner is not required to hold a license solely to display and make available to renters and prospective renters brochures and other promotional materials created by or on behalf of an authorized insurer or surplus lines insurer.
II. A limited lines license issued under this chapter shall authorize the owner and the employees and authorized representatives of the owner to sell and offer coverage for self-service storage insurance to renters at each location at which the owner conducts business.
III. The supervising entity shall maintain a registry of each location at which the owner sells or offers self-service storage insurance in this state.
IV. Notwithstanding any other provision of law, a license issued pursuant to this chapter shall authorize the licensee and its employees and authorized representatives to engage in those activities that are permitted in this chapter.
V. Owners, and their employees and authorized representatives, are exempt from all examination and education requirements under RSA 402-J in regard to self-service storage insurance.
Source.
2021, 119:2, Pt. III, Sec. 1, eff. Jan. 1, 2022.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-O - Self-Service Storage Insurance › Section 402-O:3 - Marketing Requirements for Sale of Self-Service Storage Insurance.

402-O:3 Marketing Requirements for Sale of Self-Service Storage Insurance. –
I. An owner shall not offer or sell insurance under this section unless:
(a) The owner provides to the renter written notice that:
(1) Summarizes the material terms of insurance coverage offered to renters, including the identity of the insurer, premium amount, benefits, exclusions, and conditions.
(2) Discloses that the policies offered by the owner may provide a duplication of coverage already provided by a renter's homeowner's insurance policy, residential renter's insurance policy, vehicle insurance policy, watercraft insurance policy, or other source of property insurance coverage and that no liability coverage is provided by the insurance coverage. This disclosure shall be displayed prominently in 12-point type or capital letters and shall read as follows:
Your renters' or homeowners' policy may provide the insurance you need. Check with your insurance agent to determine if your personal property stored at a location other than your home or business is covered.
(3) States that if insurance is required as a condition of rental, the requirement may be satisfied by the renter purchasing the insurance described in this section or by presenting evidence of other applicable insurance coverage.
(4) Describes the process for filing a claim.
(b) All costs related to the insurance are stated in writing.
(c) Evidence of coverage in a form developed by the insurer or supervising entity is provided to every renter who purchases the coverage.
(d) The insurance is provided by an insurer authorized to transact the applicable kinds of insurance in this state.
II. Self-service storage insurance may be offered on a month-to-month or other periodic basis under an individual policy or a group or master commercial policy coverage with limits not exceeding $10,000 in aggregate. All self-service storage insurance policy forms, endorsements, and other contract language shall be submitted pursuant to RSA 412:5, II. RSA 412:5, VI shall not apply to self-service storage insurance regardless of the type of insurance.
Source.
2021, 119:2, Pt. III, Sec. 1, eff. Jan. 1, 2022.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-O - Self-Service Storage Insurance › Section 402-O:4 - Authority of Owners.

402-O:4 Authority of Owners. –
I. The employees and authorized representatives of owners may sell and offer self-service storage insurance to renters and shall not be subject to licensure as an insurance producer under this chapter provided that:
(a) The owner obtains a limited lines license to authorize its employees and authorized representatives to sell and offer self-service storage insurance pursuant to this chapter.
(b) The insurer issuing the self-service storage insurance either directly supervises or appoints a supervising entity to supervise the administration of the program, including development of a training program for employees and authorized representatives of the owners. The training required by this section shall comply with the following:
(1) The training shall be delivered to the employees and authorized representatives who are directly engaged in the activity of selling and offering self-service storage insurance.
(2) The training may be provided in electronic form. However, if conducted in electronic form the supervising entity shall implement a supplemental education program regarding the self-service storage insurance that is conducted and overseen by a licensed producer.
(3) Each employee and authorized representative who is directly engaged in the activity of selling and offering self-service storage insurance shall receive basic instruction about the self-service storage insurance offered to renters and the disclosures required under RSA 402-O:3.
(4) The training program shall be submitted to the commissioner for approval.
(c) No employee or authorized representative of an owner shall advertise, represent, or otherwise hold himself or herself out as a non-limited lines licensed insurance producer, unless otherwise licensed.
II. The charges for self-service storage insurance coverage may be billed and collected by the owner and its employees and authorized representatives. Owners billing and collecting such charges shall not be required to maintain such funds in a segregated account provided that the owner is authorized by the insurer or supervising entity to hold such funds in an alternative manner and remits such amounts to the insurer or supervising entity within 60 days of receipt. All premiums received by an owner from a renter for the sale of self-service storage insurance shall be considered funds held by the owner in a fiduciary capacity for the benefit of the insurer. An owner may receive compensation for billing and collection services.
Source.
2021, 119:2, Pt. III, Sec. 1, eff. Jan. 1, 2022.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-O - Self-Service Storage Insurance › Section 402-O:5 - Application for License.

402-O:5 Application for License. –
I. A sworn application for a license under this chapter shall be made to and filed with the commissioner on forms prescribed and furnished by the commissioner. The applicant may be a resident or non-resident of this state.
II. The application shall provide:
(a) The name, residence address, and other information required by the commissioner for an authorized representative of the owner or supervising entity that is designated by the applicant as the person responsible for the owner's compliance with the requirements of this chapter. However, if the owner derives more than 50 percent of its revenue from the sale of self-service storage insurance the information noted above shall be provided for all officers, directors, and shareholder of record having beneficial ownership of 10 percent or more of any class of securities registered under the federal securities law; and
(b) The location of the owner's home office.
III. Any owner engaging in self-service storage insurance transactions on or before the effective date of this chapter shall apply for licensure within 90 days of the application being made available by the commissioner. Any applicant commencing operations after the effective date of this chapter shall obtain a license prior to offering self-service storage insurance.
IV. Initial licenses issued pursuant to this chapter shall expire on the second May 31 from the date of issue. Renewed licenses shall be effective for 2 years, expiring on May 31.
V. Each owner licensed under this chapter shall pay a fee as determined by the commissioner provided that the fee shall not exceed $500 for an initial self-service storage insurance license and $250 for each license renewal. However, for an owner who sells self-service storage insurance at 10 or fewer locations in the state the fee shall not exceed $150 for an initial license and for each renewal of a license.
VI. A self-service storage insurance license which lapses may, within 24 months from the due date of the renewal, be reinstated with a penalty in the amount of double the unpaid renewal fee for any renewal received after the due date pursuant to paragraph IV.
Source.
2021, 119:2, Pt. III, Sec. 1, eff. Jan. 1, 2022.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-P - Pet Insurance › Section 402-P:2 - Purpose and Scope.

402-P:2 Purpose and Scope. –
I. The purpose of this chapter is to promote the public welfare by creating a comprehensive legal framework within which pet insurance may be sold in this state.
II. The requirements of this chapter shall apply to pet insurance policies that are issued to any resident of this state, and are sold, solicited, negotiated, or offered in this state, and policies or certificates that are delivered or issued for delivery in this state.
III. All other applicable provisions of this state's insurance laws shall continue to apply to pet insurance, except that the specific provisions of this chapter shall supersede any general provisions of law that would otherwise be applicable to pet insurance.
IV. Nothing in this chapter shall in any way prohibit or limit the types of exclusions pet insurers may use in their policies or require pet insurers to have any of the limitations or exclusions defined below.
V. Any person licensed in a major line of authority as an insurance producer is authorized to sell, solicit, and negotiate pet insurance.
Source.
2023, 149:1, eff. Jan. 1, 2024.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-P - Pet Insurance › Section 402-P:4 - Policy Conditions.

402-P:4 Policy Conditions. –
I. A pet insurer may issue policies that exclude coverage on the basis of one or more preexisting conditions with appropriate disclosure to the consumer. The pet insurer has the burden of proving that the preexisting condition exclusion applies to the condition for which a claim is being made.
II. A pet insurer may issue policies that impose waiting periods upon effectuation of the policy that do not exceed 30 days for illnesses or orthopedic conditions not resulting from an accident. Waiting periods for accidents are prohibited.
(a) A pet insurer utilizing a waiting period shall include a provision in its contract that allows the waiting periods to be waived upon completion of a medical examination. Pet insurers may require the examination to be conducted by a licensed veterinarian after the purchase of the policy.
(1) A medical examination shall be paid for by the policyholder, unless the policy specifies that the pet insurer will pay for the examination.
(2) A pet insurer can specify elements to be included as part of the examination and require documentation thereof, provided the specifications do not unreasonably restrict a consumer's ability to waive the waiting periods by completing a medical examination.
(b) Waiting periods and the requirements applicable to them, shall be clearly and prominently disclosed to consumers prior to the policy purchase.
III. A pet insurer shall not require a veterinary examination of the covered pet for the insured to have their policy renewed.
IV. If a pet insurer includes any prescriptive, wellness, or non-insurance benefits in the policy form, then such benefits made part of the policy contract and shall follow all applicable laws and regulations in the insurance code.
V. An insured's eligibility to purchase a pet insurance policy shall not be based on participation, or lack of participation, in a separate wellness program.
Source.
2023, 149:1, eff. Jan. 1, 2024.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-P - Pet Insurance › Section 402-P:5 - Sales Practices for Wellness Programs.

402-P:5 Sales Practices for Wellness Programs. –
I. No pet insurer and/or producer shall market a wellness program as pet insurance.
II. If a wellness program is sold by a pet insurer and/or producer:
(a) The purchase of the wellness program shall not be a requirement to the purchase of pet insurance.
(b) The costs of the wellness program shall be separate and identifiable from any pet insurance policy sold by a pet insurer and/or producer.
(c) The terms and conditions for the wellness program shall be separate from any pet insurance policy sold by a pet insurer and/or producer.
(d) The products or coverages available through the wellness program shall not duplicate products or coverages available through the pet insurance policy.
(e) The advertising of the wellness program shall not be misleading and shall be in accordance with this section.
(f) A pet insurer and/or producer shall clearly disclose the following to consumers, printed in 12-point boldface type:
(1) That wellness programs are not insurance.
(2) The address and customer service telephone number of the pet insurer or producer or broker of record.
(3) The department's mailing address, toll-free telephone number, and website address.
III. Coverages included in the pet insurance policy contract described as "wellness" benefits are insurance.
Source.
2023, 149:1, eff. Jan. 1, 2024.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 402-P - Pet Insurance › Section 402-P:6 - Rulemaking.

402-P:6 Rulemaking. –
The commissioner may adopt rules, pursuant to RSA 541-A, relative to the implementation of this chapter.
Source.
2023, 149:1, eff. Jan. 1, 2024.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403 - Guaranty Fund of Mutual Insurance Companies › Section 403:1 - Guaranty Fund Established Out of Surplus.

403:1 Guaranty Fund Established Out of Surplus. –
Any mutual insurance company organized under the laws of this state may establish a guaranty fund in any amount not exceeding $500,000 or not to exceed 1/2 its net policyholders' surplus, whichever is smaller, by appropriation from its net assets. Such guaranty fund shall be considered as paid up capital and be available to meet the obligations of the company, but not to pay dividends or to be otherwise distributed except to meet the obligations of the company when all other assets of the company shall become exhausted.
Source.
1947, 149:1 par. 11, eff. May 15, 1947.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403 - Guaranty Fund of Mutual Insurance Companies › Section 403:2 - Guaranty Fund Established by Subscription.

403:2 Guaranty Fund Established by Subscription. –
Any mutual insurance company organized under the laws of this state may create not more than one guaranty fund by borrowing a sum of money not exceeding $500,000, by the issue of certificates of indebtedness upon such terms as the policyholders shall determine provided that such certificates shall not be divided into classes in any way and that the holders of such certificates shall not be entitled to vote in the direction of the affairs of the company and shall not receive a greater return on their investment than 10 percent per annum. The commissioner, upon notice to the company and after hearing its objections, if any, may require any guaranty fund established under this section to be retired when he shall find it is no longer needed for protection of the policyholders.
Source.
1947, 149:1 par. 12. RSA 403:2. 1969, 293:2, eff. June 30, 1969.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403 - Guaranty Fund of Mutual Insurance Companies › Section 403:3 - Retirement of Guaranty Funds.

403:3 Retirement of Guaranty Funds. –
Any mutual insurance company which shall create a guaranty fund under either of the 2 preceding sections may, with the approval of the insurance commissioner, reduce or retire such fund in whole or in part, but it may not be otherwise distributed except to pay the obligations of the company.
Source.
1947, 149:1 par. 13, eff. May 15, 1947.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403 - Guaranty Fund of Mutual Insurance Companies › Section 403:4 - Loans to Companies.

403:4 Loans to Companies. –
Any director, officer, or member of any mutual insurance company, other than a mutual life company, or any other person, may advance to such company any sum or sums of money necessary for the purpose of its business or to enable it to comply with any of the requirements of the law. Such moneys, and such interest thereon as may have been agreed upon, not exceeding 10 per centum per annum, shall not be a liability or claim against the company or any of its assets, and shall be repaid only out of the surplus of such company. No commission or promotion expenses shall be paid in connection with the advance of any such money to the company, and the amount of such advance shall be reported in each annual statement. Such company shall prior to making such advances provide the insurance commissioner with such evidence as he may by regulation prescribe concerning the making of any such advance or the making of any payments, whether of principal or interest, on account thereof.
Source.
1969, 293:3, eff. June 30, 1969.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403 - Guaranty Fund of Mutual Insurance Companies › Section 403:5 - Rules.

403:5 Rules. –
The insurance commissioner is hereby granted authority to issue such rules, regulations and orders as may be necessary to properly administer this chapter.
Source.
1969, 293:3, eff. June 30, 1969.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403-A - Disposal of Assets › Section 403-A:1 - Definitions.

403-A:1 Definitions. –
As used in this chapter, the term:
I. "Assets" includes all the property and rights of every kind of a domestic insurance company, or association.
II. "Total assets" means the dollar amount of the company's total assets as reported in its most recent convention statement.
III. "Disposal" includes any sale, transfer, exchange, assignment, alienation or other conveyance of an interest in assets, but does not include a ceding of policies pursuant to a reinsurance contract.
Source.
1969, 293:1, eff. June 30, 1969.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403-A - Disposal of Assets › Section 403-A:2 - Disposal of Assets.

403-A:2 Disposal of Assets. –
Any domestic insurance company or association that, within any period of 30 days, by one or more transactions, disposes of any of its assets which, in the aggregate, amount to more than 10 percent of its total assets, shall send written notification thereof to the insurance commissioner. Such notification shall be given at least 10 business days prior to the making of such disposal, and shall specify the nature and amount thereof, and identify all of the parties thereto.
Source.
1969, 293:1, eff. June 30, 1969.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403-A - Disposal of Assets › Section 403-A:3 - Reinsurance.

403-A:3 Reinsurance. –
Any domestic insurance company or association except a domestic life insurance company, which, during any period of 12 consecutive months, by any contract or contracts of reinsurance, cedes an amount of its insurance on which the total gross reinsurance premiums are more than 50 percent of the unearned premiums on the net amount of its insurance in force at the beginning of such period, shall give written notification thereof to the insurance commissioner. Any domestic life insurance company which reinsures its whole risk on any individual life or joint lives or reinsures policies which, during any period of 12 consecutive months, in the aggregate, amount to more than 50 percent of its insurance in force shall give written notification thereof to the insurance commissioner. The notification required hereunder shall be given at least 10 business days before the date such reinsurance takes effect, and shall specify the nature and amount thereof, and identify the parties thereto. The requirements of this section shall not apply to reinsurance made in the ordinary course of business covering reinsurance of specified individual risks under agreements relating to current business.
Source.
1969, 293:1, eff. June 30, 1969.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403-A - Disposal of Assets › Section 403-A:4 - Fraud by Officer, etc.

403-A:4 Fraud by Officer, etc. –
It shall be unlawful for any member, officer, director, or attorney-in-fact of any company, association, or exchange licensed to do an insurance business in this state to borrow, rent, hire, lease, or otherwise engage on behalf of such company, association or exchange the use of stocks, bonds, debentures, notes, investment certificates, securities, or other obligations or evidences of indebtedness owned or issued by any other corporation, company, association, or individual, or of any government, political subdivision or agency thereof, with intent to injure or defraud any other company, body politic or corporation, or person, or to deceive the insurance commissioner or other person legally authorized to examine the affairs of any such company, association, or exchange. Any person convicted of a violation of this section shall be guilty of a class B felony.
Source.
1969, 293:1. 1973, 528:280, eff. Oct. 31, 1973 at 11:59 p.m.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403-A - Disposal of Assets › Section 403-A:5 - Fraud by Corporation.

403-A:5 Fraud by Corporation. –
It shall be unlawful for any corporation organized under any law of this state, or the laws of any other state, or which has an office or is transacting business in this state, which is engaged in, or is claiming or advertising that it is engaged in, organizing or receiving subscriptions for or disposing of stocks of, or in any manner aiding or taking part in the formation or in the business of an insurance company, association, or exchange, either as agent or otherwise, or which is holding capital stock of one or more insurance companies for the purpose of controlling the management thereof as voting trustees or otherwise, or any employee, agent, or attorney thereof, that aids and abets such insurance company, association, or exchange to borrow, rent, hire, lease, or engage the use of such stock, bonds, debentures, notes, investment certificates, securities, or other obligations or evidences of indebtedness. Any corporation convicted of a violation of this section shall be guilty of a felony.
Source.
1969, 293:1. 1973, 528:281, eff. Oct. 31, 1973 at 11:59 p.m.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403-A - Disposal of Assets › Section 403-A:6 - Possession of Stocks, etc.

403-A:6 Possession of Stocks, etc. –
If any insurance company, association, or exchange is found in possession of stocks, bonds, debentures, notes, investment certificates, securities, or other obligations or evidences of indebtedness acquired in violation of RSA 403-A:4, or if any of its officers, directors, members, or attorneys-in-fact have been convicted of a violation of RSA 403-A:4, such company, association, or exchange may be subject to suspension of its certificate of authority by the insurance commissioner. Nothing in this section shall be construed to prevent the insurance commissioner from bringing an action to dissolve such insurance company, association, or exchange.
Source.
1969, 293:1, eff. June 30, 1969.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403-A - Disposal of Assets › Section 403-A:7 - to 403-A:11 Repealed by 1971, 176:2, II, eff. Aug. 7, 1971.

403-A:7 to 403-A:11 Repealed by 1971, 176:2, II, eff. Aug. 7, 1971. –
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403-A - Disposal of Assets › Section 403-A:12 - Rules and Regulations.

403-A:12 Rules and Regulations. –
The insurance commissioner may, by regulation, prescribe the rules necessary for the administration of this chapter.
Source.
1969, 293:1. 2002, 207:46, eff. July 15, 2002.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403-B - Conversion of Mutual Insurers › Section 403-B:1 - Application of Chapter.

403-B:1 Application of Chapter. –
A mutual insurance company organized under the laws of this state, other than an assessment mutual, may convert into a stock insurance company upon compliance with the provisions of this chapter.
Source.
1992, 288:16, eff. May 18, 1992.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403-B - Conversion of Mutual Insurers › Section 403-B:2 - Definitions.

403-B:2 Definitions. –
In this chapter:
I. "Commissioner" means the insurance commissioner.
II. "Conversion value" means the amount of the insurer's policyholder surplus, determined in accordance with those accounting procedures and practices prescribed by the National Association of Insurance Commissioners and by the commissioner, brought current to the date of adoption by the board of directors of the plan of conversion.
III. "Eligible policyholder" means, with respect to a mutual fire or casualty insurance company, a policyholder of the insurer on the date of adoption of the plan of conversion by the board of directors pursuant to RSA 403-B:3, I or, with respect to a mutual life insurance company, such policyholders defined in the plan of conversion approved by the commissioner.
IV. "Net premiums" means gross premiums paid by a policyholder to the insurer, less return premiums and dividends paid.
Source.
1992, 288:16, eff. May 18, 1992.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403-B - Conversion of Mutual Insurers › Section 403-B:4 - Distribution of Conversion Value.

403-B:4 Distribution of Conversion Value. –
The insurer shall follow the following conversion methodology:
I. Each eligible policyholder of a mutual fire or casualty insurance company shall have the right to purchase securities of the stock insurance company into which the insurer is to be converted, based upon such policyholder's proportionate amount of the conversion value determined by dividing the net premium paid by each eligible policyholder to the insurer with respect to the 3-year period immediately preceding the date of adoption of the resolution by the board of directors approving the plan of conversion by the total net premiums received by the insurer from eligible policyholders with respect to that period.
II. Each eligible policyholder of a mutual life insurance company shall have the right to purchase securities of the stock insurance company into which the insurer is to be converted based upon such policyholder's proportionate amount of the conversion value determinable under a fair formula approved by the commissioner.
III. The stock offering shall provide that eligible policyholders have the first right to purchase the stock at its stated value. Shares remaining unsold or not subscribed for may be offered to the general public, including the insurer's directors, officers, agents or employees, provided, however, that the price of shares offered to the general public shall be greater than or equal to the price of shares offered to eligible policyholders.
IV. The above distribution method shall constitute full payment and discharge of the policyholder's proportionate conversion value, but this provision shall not be held to prohibit the stock insurance company from including in the plan of conversion provisions for the distribution of any other valuable consideration to policyholders. Notwithstanding any other provision of law, the policyholders shall have no other rights with respect to the conversion of the insurer after the effective date of the conversion under this chapter.
Source.
1992, 288:16, eff. May 18, 1992.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403-B - Conversion of Mutual Insurers › Section 403-B:5 - Compensation.

403-B:5 Compensation. –
No director, officer or other employee of the insurer shall receive any fee, commission or other valuable consideration whatsoever, other than regular salary and compensation, for in any manner aiding, promoting or assisting in the conversion.
Source.
1992, 288:16, eff. May 18, 1992.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403-B - Conversion of Mutual Insurers › Section 403-B:6 - Issuance of New Certificate of Authority.

403-B:6 Issuance of New Certificate of Authority. –
After approval by the secretary of state of the articles of incorporation and certification by the insurer that the conversion has been effected, the commissioner shall issue a new certificate of authority to the insurer as a stock insurance company, effective as of the effective date of the conversion. The conversion shall be deemed to have been completed and the insurer shall become a domestic stock insurance company on such effective date, unless the plan of conversion shall have been terminated by the board of directors with the concurrence of the commissioner prior to such effective date. The stock insurance company shall be a continuation of the insurer and deemed to have been organized at the time the insurer was formed. The conversion shall not eliminate or change any of the insurer's rights and obligations existing prior to the date of conversion except as provided by this chapter. The stock insurance company, after conversion, shall exercise all the rights and powers and perform all the duties conferred or imposed by law upon insurers writing the classes of insurance written by it.
Source.
1992, 288:16, eff. May 18, 1992.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403-B - Conversion of Mutual Insurers › Section 403-B:7 - Officers and Directors.

403-B:7 Officers and Directors. –
The directors and officers of the insurer shall serve until the directors and officers of the stock insurance company have been duly elected and qualified pursuant to the articles of incorporation and bylaws of the stock insurance company.
Source.
1992, 288:16, eff. May 18, 1992.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403-B - Conversion of Mutual Insurers › Section 403-B:8 - Judicial Review.

403-B:8 Judicial Review. –
Any person aggrieved by any order or decision of the commissioner pursuant to this chapter may appeal from such decision in accordance with the provisions of RSA 541.
Source.
1992, 288:16, eff. May 18, 1992.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403-B - Conversion of Mutual Insurers › Section 403-B:9 - Rules.

403-B:9 Rules. –
The commissioner may adopt rules, pursuant to RSA 541-A, as may be necessary for the administration of this chapter.
Source.
1992, 288:16. 2002, 207:47, eff. July 15, 2002.
2023 New Hampshire Revised Statutes › Title XXXVII - Insurance › Chapter 403-C - Disclosure of Material Transactions › Section 403-C:1 - Report.

403-C:1 Report. –
I. Every insurer domiciled in this state shall file a report with the commissioner disclosing material acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance agreements unless such acquisitions and dispositions of assets or material nonrenewals, cancellations or revisions of ceded reinsurance agreements have been submitted to the commissioner for review, approval, or information purposes pursuant to other provisions of the insurance code, laws, rules, or other requirements.
II. The report required in paragraph I is due within 15 days after the end of the calendar month in which any of the transactions specified in paragraph I occurs.
III. One complete copy of the report, including any exhibits or other attachments, shall be filed with:
(a) The insurance department of the insurer's state of domicile; and
(b) The National Association of Insurance Commissioners.
IV. All reports obtained by or disclosed to the commissioner pursuant to this chapter shall be given confidential treatment and shall not be subject to subpoena and shall not be made public by the commissioner, the National Association of Insurance Commissioners, or any other person, except to insurance departments of other states, without the prior written consent of the insurer to which it pertains unless the commissioner, after giving the insurer who would be affected notice and an opportunity to be heard, determines that the interest of policyholders, shareholders, or the public will be served by the publication, in which event the commissioner may publish all or any part in the manner the commissioner may deem appropriate.
Source.
1995, 146:1, eff. Jan. 1, 1996.