Section 404-H:20 – Advertising.
404-H:20 Advertising. – No person shall make, publish or circulate, or cause to be made, published or circulated, any statement which uses the existence of the association for the purpose of sale, solicitation or inducement to purchase any form of insurance within the scope of this chapter, provided this section shall not apply to […]
Section 404-H:18 – Stay of Proceedings.
404-H:18 Stay of Proceedings. – All proceedings in which the insolvent insurer is a party or is obligated to defend a party in any court in this state shall, subject to waiver by the association in specific cases, be stayed for 6 months and such additional time thereafter as may be determined by the […]
Section 404-H:19 – Termination of the Association.
404-H:19 Termination of the Association. – The commissioner may by order terminate the operation of the association as to any kind of insurance with respect to which the commissioner has found, after notice and hearing, that there is in effect a statutory plan of the United States government to avoid excessive delay or financial […]
Section 404-H:8 – Powers and Duties of the Association.
404-H:8 Powers and Duties of the Association. – I. The association shall: (a) (1) Be obligated to pay covered claims existing prior to the order of liquidation and arising within 30 days after the order of liquidation, or before the policy expiration date if less than 30 days after the order of liquidation, or […]
Section 404-H:9 – Plan of Operation.
404-H:9 Plan of Operation. – I. The association shall submit to the commissioner a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the association. The plan of operation and any amendments thereto shall become effective upon approval in writing by the commissioner. II. […]
Section 404-H:10 – Duties and Powers of the Commissioner.
404-H:10 Duties and Powers of the Commissioner. – I. The commissioner shall: (a) Forward to the association a copy of any complaint seeking an order of liquidation with a finding of insolvency against a member company at the same time such complaint is filed with a court of competent jurisdiction. (b) Notify the association […]
Section 404-H:11 – Effect of Paid Claims.
404-H:11 Effect of Paid Claims. – I. Any person recovering under this chapter shall be deemed to have assigned his or her rights under the policy to the association but shall retain the right to recover from the receiver or liquidator of the insolvent insurer any amount of his or her claim under the […]
Section 404-H:12 – Exhaustion of Other Coverage.
404-H:12 Exhaustion of Other Coverage. – I. Any person having a claim against an insurer under any provision in an insurance policy other than a policy of an insolvent insurer, including but not limited to the provisions of uninsured motorist coverage of any policy, shall be required to exhaust first his or her right […]
Section 404-H:13 – Prevention of Insolvencies.
404-H:13 Prevention of Insolvencies. – To aid in the detection and prevention of insurer insolvencies: I. The board of directors may, upon majority vote, make reports and recommendations to the commissioner upon any matter germane to the solvency, liquidation, rehabilitation, or conservation of any member insurer. Such reports and recommendations shall not be considered […]
Section 404-H:14 – Examination of the Association.
404-H:14 Examination of the Association. – The association shall be subject to examination and regulation by the commissioner. The board of directors shall submit, not later than March 30 of each year, a financial report for the preceding calendar year in a form approved by the commissioner. Source. 2004, 197:1, eff. Aug. 6, 2004.