Section 408-F:13 – Credits for Assessments Paid.
408-F:13 Credits for Assessments Paid. – I. A member insurer may offset against its tax liability under RSA 400-A any assessment described in RSA 408-F:9, II(b) for the life insurance and annuity account, and for the health account for guaranteeing the performance of contractual obligations of an impaired or insolvent insurer in regard to […]
Section 408-F:14 – Miscellaneous Provisions.
408-F:14 Miscellaneous Provisions. – I. Nothing in this chapter shall be construed to reduce the liability for unpaid assessments of the insureds of an impaired or insolvent insurer operating under a plan with assessment liability. II. Records shall be kept of all negotiations and meetings in which the association or its representatives are involved […]
Section 408-F:15 – Examination of the Association; Annual Report.
408-F:15 Examination of the Association; Annual Report. – The association shall be subject to examination and regulation by the commissioner. The board of directors shall submit to the commissioner each year, not later than 120 days after the association’s fiscal year, a financial report in a form approved by the commissioner and a report […]
Section 408-F:16 – Tax Exemptions.
408-F:16 Tax Exemptions. – The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real property. Source. 2019, 314:1, eff. Jan. 1, 2020.
Section 408-F:17 – Immunity.
408-F:17 Immunity. – There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer or its agents or employees, the association or its agents or employees, members of the board of directors, or the commissioner or the commissioner’s representatives, for any action […]
Section 408-F:18 – Stay of Proceedings; Reopening Default Judgments.
408-F:18 Stay of Proceedings; Reopening Default Judgments. – All proceedings in which the insolvent insurer is a party in any court in this state shall be stayed 60 days from the date an order of liquidation, rehabilitation or conservation is final to permit proper legal action by the association on any matters germane to […]
Section 408-F:19 – Prohibited Advertisement of Insurance Guaranty Association Act in Insurance Sales; Notice to Policyholders.
408-F:19 Prohibited Advertisement of Insurance Guaranty Association Act in Insurance Sales; Notice to Policyholders. – I. No person, including a member insurer, agent or affiliate of a member insurer shall make, publish, disseminate, circulate, or place before the public, or cause directly or indirectly, to be made, published, disseminated, circulated, or placed before the […]
Section 408-F:20 – Prospective Application.
408-F:20 Prospective Application. – This chapter shall not apply to any member insurer which is insolvent or unable to fulfill its contractual obligations on December 31, 2019. Source. 2019, 314:1, eff. Jan. 1, 2020.
Section 408-F:12 – Prevention of Insolvencies.
408-F:12 Prevention of Insolvencies. – To aid in the detection and prevention of member insurer insolvencies or impairments: I. It shall be the duty of the commissioner: (a) To notify the commissioners of all the other states, territories of the United States, and the District of Columbia when the commissioner takes any of the […]
Section 408-F:2 – Purpose.
408-F:2 Purpose. – I. The purpose of this chapter is to protect, subject to certain limitations, the persons specified in RSA 408-F:5, I against failure in the performance of contractual obligations, under life, health and annuity policies, plans, or contracts specified in RSA 408-F:5, II, because of the impairment or insolvency of the member […]