Title XXXVII, Insurance

I. On compliance with the foregoing conditions and if the company is found upon examination made by or under the direction of the commissioner to (a) have complied with the laws of the state applicable to it; (b) have been consistent with the NAIC's Uniform Certificate of Authori…

No such license shall be issued to a stock company unless in addition to its paid-up capital it shall have a surplus over all liabilities, consisting of money or other lawful assets, to an amount not less than 25 percent of its capital stock.

No such license shall be issued to a mutual insurance company which charges a full cash premium, unless it has applications for insurance aggregating not less than $500,000 in not less than 200 separate risks, upon which it shall have received in cash at least one premium for a t…

The commissioner shall require a company licensed under this chapter to apply for a new license in accordance with this chapter, if, after notifying the company and after holding a hearing if requested, the commissioner finds that the company has undergone a substantial change in…

An insurance producer license to act as an agent shall be issued to any eligible person or business entity pursuant to the provisions of RSA 402-J.

I. No person may knowingly solicit or negotiate any insurance, seek or accept applications for insurance, issue or deliver any policy to or for any insurer or relative to a subject of insurance resident, located or to be performed in this state, through the arrangement or facilit…

No insurer authorized and licensed to issue policies of insurance other than life and accident and health insurance and to transact business in this state shall demand or make mandatory upon any agent so licensed in this state, any system of direct billing to the insured by the i…

I. Any insurance company authorized to transact fire or casualty business in this state shall, upon termination of an agent's appointment by said company, permit the renewal of all contracts of insurance written by such agent for a period of one year from the date of such termina…

Notwithstanding other provisions of this title, a person who has not complied with all applicable state insurance licensing and appointment laws and regulations may refer a party to a person who has complied with all applicable state insurance licensing and appointment laws and r…

Any mutual fire or casualty insurance company organized under the laws of this state, which charges a full cash premium, may limit the liability of policyholders to assessment by a stipulation in the policy, which shall have the same effect as a deposit note signed by the insured…

I. This subdivision applies to insurance companies organized under the laws of this state, other than life insurance companies. The percentage limitations contained in RSA 402:28 and RSA 402:29 shall not be effective until January 1, 1993. Any such domestic company may invest its…

I. Except for those investments which are authorized by RSA 401-B:2, which investments shall be governed exclusively by those sections respectively, every domestic insurance company, other than a life insurance company, shall invest and keep invested all its funds in investments …

A company may lend funds, on a secured basis, to an employee to defray, in whole or in part, the expenses of such employee who has been transferred. The maximum amount of any such loan to an employee shall be $250,000. This section also shall not prohibit the taking of a secured …

I. Nothing in this subdivision shall prohibit the acquisition by a domestic company 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 reinsur…

No director or other officer of a company, and no member of a committee having any authority in the investment or disposition of its funds, shall accept, or be the beneficiary of, either directly or indirectly, any fee, brokerage, commission, gift or other consideration for or on…

No company shall invest its funds in, or loan them on its own stock without the prior approval of the insurance commissioner. This section shall not prohibit a company from investing its funds in the stock or obligations of its parent company provided that: I. Such stock shall be…

I. Except for investments in subsidiaries, an insurer shall not acquire: (a) Directly or indirectly through an investment subsidiary, an investment under this chapter if, as a result of and after giving effect to the investment, the insurer would hold more than 5 percent of its a…

No person insured in such company, or in any class thereof, in which the amount insured is less than $50,000, shall be assessed any greater sum than he would be if that amount were insured; but the officers of the company shall be individually liable for the indebtedness of the c…

Investments shall be valued as follows: I. Securities held in accordance with the provisions of this subdivision shall be valued in accordance with the published valuation standards of the Securities Valuation Office of the National Association of Insurance Commissioners. II. Sec…

The commissioner may adopt rules, under RSA 541-A, which are reasonable and necessary for the implementation and administration of this chapter relative to: I. Financial solvency standards, for investments under RSA 402:28. II. Valuation standards, for investments under RSA 402:2…

If an insurance company organized under the laws of this state shall be guilty of gross waste, misconduct or negligence in the management of its affairs, its charter or authority to do business shall be liable to forfeiture as provided in this subdivision.

Whenever the commissioner is of the opinion that any such cause for revocation exists he shall file a petition against the company in the superior court of the county in which it has its principal place of business, praying for a decree of forfeiture and for a settlement of its a…

The attorney general shall act for the commissioner in making and prosecuting the petition. The incidental expenses of the prosecution shall be paid by the state.

If the court is satisfied that there has been gross waste, misconduct or negligence in the management of its affairs, it shall decree a forfeiture of the company's charter or authority to do business, and shall make all other orders required for closing up and settling its affair…

No more than 30 percent above its actual indebtedness shall be assessed by any such company to close its affairs; and the officers and agents thereof shall not receive more than 20 percent of the money collected for their services in closing its business.

Whoever violates any provision of this subdivision shall be fined not more than $2,500 or shall have any license suspended or revoked or shall both be fined and have any license suspended or revoked.

No insurance company, association, or society or officer, director, agent, broker, or solicitor thereof, shall issue, circulate, or use, or cause or permit to be issued, circulated, or used, any statement, estimate, illustration, or circular misrepresenting the terms of any polic…

No insurance company, association or society, officer, director, agent, solicitor or broker, nor any person, firm, association, or corporation, shall make any misrepresentation, oral, written, or otherwise, or any misleading estimate of the dividends or share of surplus to be rec…

Whoever violates any provision of this subdivision shall be fined not more than $2,500 or shall have any license suspended or revoked or shall both be fined and have any license suspended or revoked.

The commissioner may, after notice and hearing, revoke or suspend a license theretofore issued to any company, association or society, agent or broker for a period not exceeding 3 years, for any such knowing or wilful violation.

A mutual fire insurance company, organized under the laws of the state, may limit its operations within certain prescribed boundaries; and in such case it shall be barred from insuring property situated outside those boundaries.

Whoever violates any provision of this subdivision shall be fined not more than $2,500 or shall have any license suspended or revoked or shall both be fined and have any license suspended or revoked.

If any officer of an insurance company organized under the laws of this state shall embezzle, abstract or wilfully misapply any of the money, funds or other securities of the company, or shall represent as the property of the company any money, funds or other securities which bel…

If any officer or employee of any such insurance company shall directly or indirectly receive any fee, present or benefit whatever from any borrower or applicant for a loan from such company as an inducement to making the loan, or from any one negotiating securities to the compan…

Any money, substitute for money or thing of value whatever, received by any agent, solicitor or broker, as premium or return premium, on or under any policy of insurance or application therefor, shall be received by him in his fiduciary capacity, and any agent, solicitor or broke…

Whenever the insurance commissioner of the state shall determine after a hearing, 10 days' notice of which shall be given stating the time, place and purpose of such hearing, that any insurer organized under the laws of this state, whether on the stock, mutual, reciprocal, frater…

The term "transacting business," as used in this subdivision, shall be defined to include in addition to its usual interpretation, advertising locally in any foreign jurisdiction in which an insurer is not licensed or circularizing in any such jurisdiction without regard for the …

Every insurance company making application for an original license to transact insurance business in this state, shall pay to the commissioner a fee as established by RSA 400-A:29 for the examination, investigation and processing of the application. Such fee shall be retained by …

The treasurer of every such company shall enter in books provided for the purpose a correct account of all assessments made, of all sums by him received and paid out for the company, and of all evidences of debt and other assets belonging to the company coming into his possession…

The provisions of RSA 402:24 and RSA 402:56 and 57 shall not apply to mutual insurance companies that operate on an assessment plan and require as a condition for granting insurance the signing of a premium deposit note by the insured, which note is given for the purpose of estab…

Six thousand dollars of the amount received as the taxes imposed by RSA 400-A shall annually be set apart by the state treasurer, and kept distinct from all other funds, and shall be known as the firemen's relief fund.

Such fund, in the month of May after its receipt, shall be paid over, upon the order of the governor, to the treasurer of the New Hampshire State Firemen's Association, as trustee, and shall be devoted to, and paid out for, the relief of any fireman injured or disabled in the dis…

In addition to said firemen's relief fund, in the event of the depletion of the treasury of the New Hampshire State Firemen's Association below the amount necessary to meet its obligations, the state treasurer shall, having received a certified statement of such condition from th…

The money due a fireman, or in case of his death his parents, widow or children, by reason of any rule or bylaw of said association, shall be exempt from attachment or trustee process.

Any such company may terminate its policies by publishing a notice of the time when they will terminate, and by giving or mailing a like notice to each party insured, 30 days at least before the time fixed for such termination, and by tendering to the insured under each policy a …