Section 408-F:3 – Construction.
408-F:3 Construction. – This chapter shall be liberally construed to effect the purpose under RSA 408-F:2 which shall constitute an aid and guide to interpretation. Source. 2019, 314:1, eff. Jan. 1, 2020.
Section 408-F:4 – Definitions.
408-F:4 Definitions. – In this chapter: I. " Account " means either of the 2 accounts created under RSA 408-F:6. II. " Association " means the New Hampshire life and health insurance guaranty association created under RSA 408-F:6. III. " Commissioner " means the commissioner of insurance. IV. " Contractual obligation " means any […]
Section 408-F:5 – Coverage and Limitations.
408-F:5 Coverage and Limitations. – I. This chapter shall provide coverage for the policies and contracts specified in paragraph II: (a) To persons who, regardless of where they reside (except for nonresident certificate holders under group policies or contracts), are the beneficiaries, assignees, or payees, including health care providers rendering services covered under health […]
Section 408-F:6 – Creation of the Association.
408-F:6 Creation of the Association. – I. There is created a nonprofit legal entity to be known as the New Hampshire life and health insurance guaranty association, which shall be the same association created under RSA 404-D:6. All member insurers shall be and remain members of the association as a condition of their authority […]
Section 408-F:7 – Board of Directors.
408-F:7 Board of Directors. – I. The board of directors of the association shall consist of not less than 7 nor more than 11 member insurers serving terms as established in the plan of operation. The members of the board shall be selected by member insurers subject to the approval of the commissioner. Vacancies […]
Section 408-F:8 – Powers and Duties of the Association.
408-F:8 Powers and Duties of the Association. – I. If a member insurer is an impaired domestic insurer, the association may, in its discretion, and subject to any conditions imposed by the association that do not impair the contractual obligations of the impaired insurer, that are approved by the commissioner, and that are, except […]
Section 408-F:9 – Assessments.
408-F:9 Assessments. – I. For the purpose of providing the funds necessary to carry out the powers and duties of the association, the board of directors shall assess the member insurers, separately for each account, at such time and for such amounts as the board finds necessary. Assessments shall be due not less than […]
Section 408-F:10 – Plan of Operation.
408-F:10 Plan of Operation. – I. (a) 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 the commissioner’s written approval or unless […]
Section 408-F:11 – Duties and Powers of the Commissioner.
408-F:11 Duties and Powers of the Commissioner. – In addition to the duties and powers enumerated elsewhere in this chapter: I. The commissioner shall: (a) Upon request of the board of directors, provide the association with a statement of the premiums in this and any other appropriate states for each member insurer. (b) When […]
Section 408-F:1 – Title.
408-F:1 Title. – This chapter shall be known and may be cited as the New Hampshire Life and Health Insurance Guaranty Association Act of 2019. Source. 2019, 314:1, eff. Jan. 1, 2020.