401-B:1 Definitions. – In this chapter: I. An " affiliate " of, or person " affiliated " with, a specific person, is a person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified. II. " Commissioner " means the insurance […]
401-B:10 Injunctions; Prohibitions Against Voting Securities; Sequestration of Voting Securities. – I. Injunctions. Whenever it appears to the commissioner that any insurer or any director, officer, employee, or agent thereof has committed or is about to commit a violation of this chapter or of any rule, regulation, or order issued by the commissioner hereunder, […]
401-B:11 Sanctions. – I. Any insurer failing, without just cause, to file any registration statement as required in this chapter shall be required, after notice and hearing, to pay a penalty of $2,500 for each day’s delay, to be recovered by the commissioner. The commissioner may reduce the penalty if the insurer demonstrates to […]
401-B:12 Receivership. – Whenever it appears to the commissioner that any person has committed a violation of this chapter which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders, or the public, the commissioner may […]
401-B:13 Recovery. – I. If an order for liquidation or rehabilitation of a domestic insurer has been entered, the receiver appointed under the order shall have a right to recover on behalf of the insurer: (a) From any parent corporation or holding company or person or affiliate who otherwise controlled the insurer, the amount […]
401-B:14 Revocation, Suspension, or Nonrenewal of Insurer’s License. – Whenever it appears to the commissioner that any person has committed a violation of this chapter which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the commissioner may, after giving notice and opportunity to be heard, suspend, […]
401-B:15 Appeal. – I. Judicial Review, Mandamus. Any person aggrieved by any act, determination, rule, regulation, or order of any other action of the commissioner pursuant to this chapter may appeal in accordance with RSA 541. The court shall conduct its review without a jury and by trial de novo, except that if all […]
401-B:16 Time Limits for Agency Action. – The time limits specified in this chapter for the commissioner to act on any holding company application, petition, or request and the provisions in this chapter under which an application, petition, or request may or may not be deemed to be approved when the commissioner does not […]
401-B:2 Subsidiaries of Insurers. – I. Authorization. Any domestic insurer, either by itself or in cooperation with one or more persons, may organize or acquire one or more subsidiaries. The subsidiaries may conduct any kind of business or businesses and their authority to do so shall not be limited by reasons of the fact […]
401-B:3 Acquisition of Control of or Merger With Domestic Insurer. – I. Filing Requirements. (a) No person other than the issuer shall make a tender offer for or a request or invitation for tenders of, or enter into any agreement to exchange securities for, seek to acquire, or acquire, in the open market or […]
401-B:3-a Acquisitions Involving Insurers Not Otherwise Covered. – I. Definitions. In this section: (a) " Acquisition " means any agreement, arrangement or activity, the consummation of which results in a person acquiring directly or indirectly the control of another person, and includes but is not limited to the acquisition of voting securities, the acquisition […]
401-B:4 Registration of Insurers. – I. Registration. (a) Every insurer which is authorized to do business in this state and which is a member of an insurance holding company system shall register with the commissioner, except a foreign insurer subject to registration requirements and standards adopted by statute or rule in the jurisdiction of […]
401-B:5 Standards and Management of an Insurer Within a Holding Company System. – I. Transactions Within an Insurance Holding Company System. (a) Transactions within an insurance holding company system to which an insurer subject to registration is a party shall be subject to the following standards: (1) The terms shall be fair and reasonable. […]
401-B:6 Examination. – I. Power of Commissioner. Subject to the limitation contained in this section and in addition to the powers which the commissioner has under Title XXXVII relating to the examination of insurers, the commissioner shall have the power to examine any insurer registered under RSA 401-B:4 and its affiliates to ascertain the […]
401-B:7 Supervisory Colleges. – I. Power of Commissioner. With respect to any insurer registered under RSA 401-B:4, and in accordance with paragraph III, the commissioner shall also have the power to participate in a supervisory college for any domestic insurer that is part of an insurance holding company system with international operations in order […]
401-B:7-a Group-wide Supervision of Internationally Active Insurance Groups. – I. The commissioner is authorized to act as the group-wide supervisor for any internationally active insurance group in accordance with the provisions of this section. However, the commissioner may otherwise acknowledge another regulatory official as the group-wide supervisor where the internationally active insurance group: (a) […]
401-B:8 Confidential Treatment. – I. Documents, materials, or other information in the possession or control of the insurance department that are obtained by or disclosed to the commissioner or any other person in the course of an examination or investigation made pursuant to RSA 401-B:6 and all information reported pursuant to RSA 401-B:3, II(l) […]
401-B:9 Rules and Orders. – The commissioner may, upon notice and opportunity for all interested persons to be heard, issue such rules and orders as shall be necessary to carry out the provisions of this chapter. To assist in the review of any transaction, or to otherwise determine compliance with this chapter, the commissioner […]
