Section 406-C:19 – Provisions Severable.
406-C:19 Provisions Severable. – If any provision of this chapter or the application thereof to any person or circumstance is held to be invalid for any reason, such invalidity shall not affect any other provisions or applications of this chapter which can be given effect without the invalid provisions or applications, and to this […]
Section 406-C:16 – Rulemaking Authority for Implementing Regulations.
406-C:16 Rulemaking Authority for Implementing Regulations. – I. The commissioner may adopt rules to effectuate the purposes of this chapter, which are to protect the insurance buying public from potential coercion by financial institutions, to minimize the possibilities of unfair competitive practices by financial institutions that harm the public, and to maintain parity with […]
Section 406-C:17 – Enforcement.
406-C:17 Enforcement. – Any person violating the provisions of this chapter shall be subject to any and all enforcement procedures within the authority of the insurance department including, but not limited to, the issuance of a cease and desist order requiring such person to cease all insurance sales and solicitation activities. Source. 1997, 223:3, […]
Section 406-C:18 – Penalties.
406-C:18 Penalties. – Any financial institution violating any of the provisions of this chapter or any rule adopted under this chapter may be subject to an administrative fine not to exceed $2,500 per violation. The commissioner may also suspend or revoke the license of any financial institution or other person or organization for any […]
Section 406-C:9 – Confidential Customer Information.
406-C:9 Confidential Customer Information. – The financial institution shall not disclose any nonpublic customer information, unless such disclosure is consistent with the provisions of the federal Gramm-Leach-Bliley Act and any applicable laws, or rules adopted pursuant to RSA 400-A:15, I. Source. 1997, 223:3. 2002, 207:26, eff. July 15, 2002.
Section 406-C:10 – Prohibition on Tying of Banking and Insurance Products.
406-C:10 Prohibition on Tying of Banking and Insurance Products. – I. The financial institution shall not require or imply that the purchase of an insurance product by a customer or prospective customer is required as a condition of, or is in any way related to, the lending of money or extension of credit or […]
Section 406-C:11 – Prohibition on Discrimination Against Non-Affiliated Agents.
406-C:11 Prohibition on Discrimination Against Non-Affiliated Agents. – I. The financial institution shall not condition the provision of any product or service to any customer upon the purchase of a policy or contract of insurance through a particular insurer, agent, or broker or reject any insurance policy required in connection with a loan or […]
Section 406-C:12 – Prohibited Practices.
406-C:12 Prohibited Practices. – I. An employee of a financial institution who is not licensed to sell insurance may refer a party to a person who is licensed to sell insurance, if the employee making such referral is compensated for such referral in an amount that does not exceed a nominal amount and such […]
Section 406-C:13 – Application of State and Federal Consumer Protection Provisions.
406-C:13 Application of State and Federal Consumer Protection Provisions. – Any financial institution which solicits or sells insurance products pursuant to RSA 383-B:3-301(d) and this chapter shall be subject to all applicable federal and state consumer protection laws, including the federal anti-tying provisions of 12 U.S.C. section 1972. Source. 1997, 223:3. 2015, 272:33, eff. […]
Section 406-C:14 – Insurance Records.
406-C:14 Insurance Records. – Books and records relating to the insurance transactions of a financial institution licensed to sell insurance, including all files relating to and reflecting customer complaints, shall be kept separate and apart from all records relating to other business transactions of such financial institution, and shall be made available to the […]