Chapter 431 — Chapter 431

§431:9A-110 Legal, trade, and assumed names. (a) Every insurance producer doing business in this State shall notify the commissioner in writing of the insurance producer's legal name. (b) An insurance producer shall apply to the department of commerce and consumer affairs and the…

§431:9A-112 License denial, nonrenewal, suspension, or revocation. (a) The commissioner may deny, place on probation, suspend, revoke, or refuse to issue or renew an insurance producer's license and may levy a civil penalty in accordance with articles 2 and 3, or any combination …

§431:9A-114 Appointments. (a) An insurance producer shall not act as an agent of an insurer unless the producer becomes an appointed agent of that insurer. (b) To appoint a producer as its agent, the insurer shall file, in a format approved by the commissioner, a notice of appoin…

§431:9A-115 Notification to commissioner of termination. (a) An insurer or its authorized representative that terminates the appointment, employment, contract, or other insurance business relationship with a producer shall notify the commissioner within thirty days following the …

§431:9A-122 Place of business. (a) Every licensed insurance producer shall have and maintain in this State, or, if a nonresident insurance producer, in the nonresident's home state, a place of business accessible to the public. (b) The place of business shall be where the license…

§431:9A-123 Records of insurance producer. (a) Every insurance producer shall keep a record of all transactions consummated under the producer's license. The record required by this section shall be in a form organized according to class of insurance and shall include: (b) All th…

§431:9A-124 Prerequisites for license renewal. (a) To qualify for a license renewal, a licensee shall: (b) The required number of credit hours shall be as follows: For purposes of this section, ethics training shall include but shall not be limited to the study of fiduciary respo…

§431:9A-126 Power to fine. (a) The order levying the fine through section 431:9A-112 shall specify the period within which the fine shall be fully paid, and that period shall be not less than thirty nor more than forty-five days from the date of the order. (b) Upon the licensee's…

§431:9A-129 Penalty. (a) The commissioner may revoke or suspend the certificate of an approved course provider for any violation of the insurance code, subject to the right of the provider to a hearing as provided in section 431:2-308. (b) The commissioner shall sanction the lice…

§431:9A-142 Requirements for license and renewal. (a) Applicants seeking licensure under this part shall comply with applicable licensing requirements under chapter 431. (b) The commissioner may issue a limited lines motor vehicle rental company producer license to a motor vehicl…

[Part iii.] CONTINUING EDUCATION COURSE PROVIDERS §431:9A-151 Continuing education course provider certificate. (a) An approved continuing education course shall be offered only by a person who has a valid continuing education course provider certificate. Any person seeking a con…

§431:9A-153 Courses. (a) No continuing education course hours shall be credited for a course unless the provider conducting the course has a valid continuing education course provider certificate at the time the course is conducted. (b) In determining whether to approve a course,…

§431:9A-176 Application for license and fees. (a) A sworn application for a license under this part shall be filed with the commissioner on forms prescribed and furnished by the commissioner. (b) The application for a license shall provide the following: (c) Any owner engaging in…

[ARTICLE 9B] REINSURANCE INTERMEDIARY §431:9B-101 Definitions. For purposes of this article: "Actuary" means a person who is a member in good standing of the American Academy of Actuaries. "Controlling person" means any individual, firm, association, or corporation that directly …

§431:9B-102 Licensure. (a) No person, firm, association, or corporation shall act as a reinsurance intermediary-broker in this State if the reinsurance intermediary-broker maintains an office either directly or as a member or employee of a firm or association, or as an officer, d…

§431:9B-103 Required contract provisions; reinsurance intermediary-brokers. Transactions between a reinsurance intermediary-broker and the insurer it represents in that capacity shall only be entered into pursuant to a written authorization, specifying the responsibilities of eac…

§431:9B-104 Books and records; reinsurance intermediary-brokers. (a) For at least ten years after expiration of each contract of reinsurance transacted by the reinsurance intermediary-broker, the reinsurance intermediary-broker shall keep a complete record for each transaction sh…

§431:9B-106 Required contract provisions; reinsurance intermediary-managers. Transactions between a reinsurance intermediary-manager and the reinsurer it represents in that capacity shall only be entered into pursuant to a written contract, specifying the responsibilities of each…

[ARTICLE 9C] MANAGING GENERAL AGENTS §431:9C-101 Definitions. For purposes of this article: "Actuary" means a person who is a member in good standing of the American Academy of Actuaries. "Insurer" means any person, firm, association, or corporation duly licensed in this State as…

§431:9C-102 Licensure. (a) No person, firm, association, or corporation shall act as a managing general agent, with respect to risks located in this State for an insurer licensed in this State, unless licensed as a producer in this State. (b) No person, firm, association, or corp…

§431:9C-103 Required contract provisions. No person, firm, association, or corporation acting as a managing general agent shall place business with an insurer unless there is in force a written contract between the managing general agent and the insurer which sets forth the respo…

§431:9C-104 Duties of insurers. (a) An insurer shall have on file an independent financial examination in a form acceptable to the commissioner of each managing general agent with whom it has done business. (b) If a managing general agent establishes loss reserves, the insurer sh…

[ARTICLE 9J] THIRD PARTY ADMINISTRATORS §431:9J-101 Definitions. For purposes of this article: "Administrator" or "third party administrator" means a person who collects charges or premiums from, or who adjusts or settles claims on, residents of this State in connection with self…

§431:9J-102 License required; application. (a) No person shall act as or hold out to be an administrator in this State without a license as an administrator issued by the commissioner. (b) An administrator shall apply to the commissioner on a form prescribed by the commissioner a…

§431:9J-103 Surety bond required. (a) Before the issuance of the administrator license, the administrator shall file with the commissioner, and maintain in force while so licensed, a surety bond of at least $100,000 during the administrator's first licensing biennial, and at leas…

§431:9J-112 Annual report required. (a) An administrator shall file an annual report for the preceding calendar year with the commissioner on or before March 1 of each year, in a form and manner prescribed by the commissioner. (b) The annual report shall include: (c) An administr…