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:1 – Purpose.
406-C:1 Purpose. – The purpose of this chapter is to authorize and regulate the solicitation for purchase and the sale in this state of insurance by financial institutions and to maintain parity with respect to the insurance powers of state and federally chartered financial institutions. Source. 1997, 223:3. 2000, 313:3, eff. Aug. 20, 2000.
Section 406-C:2 – Definitions.
406-C:2 Definitions. – In this chapter: I. "Commissioner" means the insurance commissioner. II. "Customer" means a person with an investment, security, deposit, trust, or credit relationship with a financial institution. III. "Insurance" means all products defined or regulated as insurance by the state of New Hampshire, except: (a) Credit life, credit accident and health, […]
Section 406-C:3 – License for Insurance Sales.
406-C:3 License for Insurance Sales. – A financial institution and the employees of a financial institution conducting insurance sales shall be required to obtain a producer’s license authorizing the sale of insurance by complying with the licensing requirements of RSA 402-J. Source. 1997, 223:3. 2000, 315:17, eff. Jan. 1, 2001.
Section 406-C:4 – Prohibition on Underwriting.
406-C:4 Prohibition on Underwriting. – Neither this chapter, nor RSA 383-B:3-301(d) shall be construed to authorize any financial institution to engage in the underwriting of any insurance product or in any insurance underwriting activity requiring licensure under RSA 402 or RSA 405. Source. 1997, 223:3. 2015, 272:32, eff. Oct. 1, 2015.
Section 406-C:5 – Licensure Requirement.
406-C:5 Licensure Requirement. – Solicitation for the purchase or sale of any insurance product by the financial institution shall be conducted only by persons who are licensed and have complied with all applicable state insurance licensing laws and rules, and are officers, directors, or employees of the financial institution. Source. 1997, 223:3, eff. Aug. […]
Section 406-C:6 – Authorized Carriers.
406-C:6 Authorized Carriers. – A financial institution shall offer only insurance products of approved surplus lines carriers or approved products of insurance companies authorized to do insurance business in New Hampshire. Source. 1997, 223:3, eff. Aug. 17, 1997.
Section 406-C:7 – Separation of Activities.
406-C:7 Separation of Activities. – I. A financial institution shall, to the extent practicable, keep the area where the bank conducts transactions involving insurance products or annuities physically segregated from areas where retail deposits are routinely accepted from the general public, identify the areas where insurance product or annuity sales activities occur, and clearly […]
Section 406-C:8 – Disclosures.
406-C:8 Disclosures. – I. To avoid customer confusion and in addition to any other requisite disclosures, all advertising, promotional material, and solicitation, including telemarketing contacts in the case of life insurance and annuities, shall include a prominent disclosure that substantively states that a purchase of insurance: (a) Is not a deposit; (b) Is not […]