Chapter 431 — Chapter 431

§431:10C-307 Reimbursement of duplicate benefits. Whenever any person effects a tort liability recovery for accidental harm, whether by suit or settlement, which duplicates personal injury protection benefits already paid under the provisions of this article, the motor vehicle in…

§431:10C-307.7 REPEALED. L 2009, c 149, §10.

§431:10C-307.8 REPEALED. L 2009, c 149, §11.

§431:10C-308 REPEALED. L 1997, c 251, §58.

§431:10C-308.5 Limitation on charges. (a) As used in this article, the term "workers' compensation supplemental medical fee schedule" means the schedule adopted and as may be amended by the director of labor and industrial relations for workers' compensation cases under chapter 3…

§431:10C-308.6 REPEALED. L 1997, c 251, §59.

§431:10C-309 Total loss motor vehicle claims. When a motor vehicle insurance policy provides for the adjustment and settlement of an insured's motor vehicle's total losses on the basis of actual cash value or replacement, the insurer shall follow either the replacement method set…

§431:10C-310 Total loss motor vehicle claims: replacement. When an insurer elects under section 431:10C-309 to offer the insured a replacement vehicle as defined in section 431:10C-103, the insurer shall comply with the following requirements:

§431:10C-311 Total loss motor vehicle claims: cash settlement. (a) When an insurer elects under section 431:10C-309 to offer the insured a cash settlement for a total loss motor vehicle claim, the following shall apply: (b) If within thirty days of the receipt of the settlement b…

§431:10C-312 Payment of excise tax and certificate of ownership fee. (a) When a replacement vehicle is provided under section 431:10C-310 or section 431:10C-311, the insurer shall pay the applicable general excise tax and ownership fee as follows: (b) If the insured cannot substa…

§431:10C-313 Insurer practices regarding loss of use, storage and towing, and betterment. (a) In motor vehicle property damage liability claims in which liability is reasonably clear, the insurer shall pay for the reasonable and necessary costs, in direct proportion to the extent…

§431:10C-314 Jurisdiction. Any person may bring suit for breach of any contractual obligation assumed by an insurer under a policy of insurance containing such mandatory or optional provisions in any state court of competent jurisdiction. [L 1987, c 347, pt of §2]

§431:10C-315 Statute of limitations. (a) No suit shall be brought on any contract providing motor vehicle insurance benefits or any contract providing optional additional coverage more than the later of: (b) No suit arising out of a motor vehicle accident shall be brought in tort…

PART IV. JOINT UNDERWRITING PLAN Subpart A. Participation and Administration §431:10C-401 Participation. (a) A joint underwriting plan is established consisting of all insurers authorized to write and engage in writing motor vehicle insurance in this State, except those insurers …

§431:10C-402 Bureau. (a) The commissioner shall establish and maintain a joint underwriting plan bureau in the insurance division to receive, assign and supervise the servicing of all assigned claims and all applications for joint underwriting plan coverage. (b) The commissioner …

§431:10C-403 Bureau's duties. The bureau shall promptly assign each claim and application, and notify the claimant or applicant of the identity and address of the assignee of the claim or application. Claims and applications shall be assigned so as to minimize inconvenience to cl…

§431:10C-404 Allocation of costs. All costs incurred in the operation of the joint underwriting plan bureau and the operation of the plan, including administrative, staff, consultative costs as provided in section 431:10C-215, and claims paid, other than assigned claims as provid…

§431:10C-405 Board of governors. (a) The commissioner shall establish a board of governors within the bureau to provide expertise and consultation on all matters pertaining to the operation of the bureau and the joint underwriting plan. The commissioner shall appoint members to t…

§431:10C-406 Regulations, review, and appellate procedure. (a) The commissioner shall adopt all necessary and appropriate rules for the execution of the commissioner's duties under this part as provided for in chapter 91. (b) Any final ruling or disposition by the bureau, or by a…

Subpart B. Coverages and Assignment of Claims §431:10C-407 Classifications. (a) The commissioner shall establish classifications of eligible persons and uses for which the joint underwriting plan shall provide both the required motor vehicle insurance policies and any optional ad…

§431:10C-408 Assigned claims. (a) Each person sustaining accidental harm, or such person's legal representative, may, except as provided in subsection (b), obtain the motor vehicle insurance benefits through the plan whenever: (b) A person, or such person's legal representative, …

Subpart C. Rates §431:10C-409 Establishment and criteria. The commissioner shall, after consultation with the board, establish and promulgate the rating rules, classification standards and rules, rates, rating plans, territories, and policy forms for use in the provision of all m…

§431:10C-411 Optional additional coverages. The commissioner shall, in the same manner as in section 431:10C-410, set rates for any optional additional coverages the plan shall offer. [L 1987, c 347, pt of §2]

§431:10C-412 Adjustment and refund. The commissioner may:

PART V. MOTORCYCLES AND MOTOR SCOOTERS--REPEALED §§431:10C-501 to 431:10C-504 REPEALED. L 1989, c 208, §6.

§431:10C-602 Surety bond or deposit of security; proof of financial ability. An applicant for self-insurance shall:

§431:10C-802 Insurance coverage during car-sharing period. (a) A peer-to-peer car-sharing program shall ensure that, during each car-sharing period, the shared car is insured under a motor vehicle insurance policy that provides: (b) If insurance maintained by a shared car owner o…

ARTICLE 10D LIFE INSURANCE AND ANNUITIES PART I. INDIVIDUAL LIFE INSURANCE, ANNUITIES AND PURE ENDOWMENT CONTRACTS §431:10D-101 Scope. This part applies to contracts of life insurance and annuities other than group life insurance, group annuities and except as provided in section…

§431:10D-102 Standard provisions required. (a) No policy of life insurance shall be delivered or issued for delivery in this State unless it contains in substance all of the following provisions: (I) Advance on proper assignment or pledge of the policy and on the sole security th…

§431:10D-103 Policy loan interest rates for policies issued after June 22, 1982. (a) For the purposes of this section: (b) Policies issued on or after June 22, 1982, shall provide for maximum policy loan interest rates as follows: Insurers issuing policies with interest rates as …

§431:10D-104 Standard nonforfeiture law for life insurance. (a) This section shall be known as the Standard Nonforfeiture Law for Life Insurance. (b) With regard to nonforfeiture benefits of life insurance: (c) With regard to the computation of cash surrender value: (d) With rega…

§431:10D-105 Annuities and pure endowment contracts; standard provisions required. (a) No annuity or pure endowment contract shall be delivered or issued for delivery in this State unless it contains in substance each of the provisions set forth below: (b) Provisions of this sect…

§431:10D-106 Reversionary annuities; standard provisions required. (a) No contract for a reversionary annuity shall be delivered or issued for delivery in this State unless it contains in substance the following: (b) Any of the provisions not applicable to single premium annuitie…

§431:10D-107 Standard nonforfeiture law; individual deferred annuities. (a) This section shall be known as the Standard Nonforfeiture Law for Individual Deferred Annuities. (b) This section shall not apply to: (c) In the case of contracts issued on or after July 1, 2006, no contr…

§431:10D-108 Limitation of liability. (a) No policy of life insurance shall be delivered or issued for delivery in this State if it contains a provision limiting to less than three years the time within which an action at law or in equity may be commenced after the cause of actio…

§431:10D-109 Scope of incontestable clauses. A clause in any policy of life insurance providing that such policy shall be incontestable after a specified period shall preclude only a contest of the validity of the policy, and shall not preclude the assertion at any time of defens…

§431:10D-110 Incontestability after reinstatement. The reinstatement of any policy of life insurance or contract of annuity delivered or issued for delivery in this State may be contestable on account of fraud or misrepresentation of facts material to the reinstatement only for t…

§431:10D-111 Premium deposits. (a) A life insurer may, under policy provisions or agreements, contract for and accept premium deposits in addition to the regular premiums specified in the policy, for the purpose of paying future premiums, to facilitate conversion of the policy, o…

§431:10D-112 Policy settlements. Any life insurer shall have the power to hold under agreement the proceeds of any policy issued by it, upon such terms and restrictions as to revocation by the policyholder and control by beneficiaries, and with such exemptions from the claims of …

§431:10D-113 Indebtedness deducted from proceeds. In determining the amount due under any life insurance policy issued, deduction may be made of:

§431:10D-114 Miscellaneous proceeds. Upon the death of the insured and except as is otherwise expressly provided by the policy or premium deposit agreement, a life insurer may pay to the surviving spouse, children, beneficiary, or person other than the insured's estate, appearing…

§431:10D-115 Dealing in dividends. No life insurer nor any of its representatives, producers, or affiliates, shall buy, take by assignment other than in connection with policy loans, or otherwise deal or traffic in any rights to dividends existing under participating life insuran…

§431:10D-116 Prohibited policy plans. No life insurer shall issue for delivery or deliver in this State any life insurance policy:

§431:10D-117 Life franchise plan. Insurance may be issued pursuant to the provisions of this part on a franchise plan under the terms of which life insurance and annuities, other than group life insurance, group annuities and industrial life insurance, is issued to: Such persons,…

§431:10D-118 Variable contracts. (a) A domestic life insurance company may establish, by or pursuant to resolution of its board of directors, one or more separate accounts and may allocate thereto amounts, including without limitation proceeds applied under optional modes of sett…

PART II. GROUP LIFE INSURANCE §431:10D-201 Group life insurance requirements. (a) Except as provided in subsection (b), no policy of group life insurance shall be delivered in this State unless it conforms to one of the descriptions as provided in this article. (b) Subsection (a)…

§431:10D-202 Employee groups. (a) The lives of a group of individuals may be insured under a policy issued to an employer, or to the trustees of a fund established by an employer, which employer or trustee is deemed the policyholder, insuring employees of the employer for the ben…

§431:10D-203 Debtor groups. The lives of a group of individuals may be insured under a policy issued to a creditor or its parent holding company or to a trustee or trustees or agent designated by two or more creditors, which creditor, holding company, affiliate, trustee, trustees…

§431:10D-204 Labor union groups. The lives of a group of individuals may be insured under a policy issued to a labor union, which shall be deemed the policyholder, to insure members of the union for the benefit of persons other than the union or any of its officials, representati…

§431:10D-205 Trustee groups. The lives of a group of individuals may be insured under a policy issued to the trustees of a fund established by two or more employers or by one or more labor unions, or by one or more employers and one or more labor unions which trustees shall be de…