405-B:1 Purpose. – The purpose of this chapter is to enable the collection and disbursement of premium taxes for nonadmitted insurance, including surplus lines insurance, necessitated by the passage of the Nonadmitted and Reinsurance Reform Act of 2010 (NRRA), which was incorporated intact into the Dodd-Frank Wall Street Reform and Consumer Protection Act, H.R. […]
405-B:2 Definitions. – In this chapter: I. " Commissioner " means the insurance commissioner. II. " Home state " means, except as provided in subparagraph (b), with respect to an insured: (a) The state in which an insured maintains its principal place of business or, in the case of an individual, the individual’s principal […]
405-B:3 Cooperative or Reciprocal Agreements. – For the purposes of carrying out the provisions of the Nonadmitted and Reinsurance Reform Act of 2010, the commissioner is authorized to enter into a cooperative or reciprocal agreement, or compact with another state in order to facilitate the collection, allocation, and disbursement of premium taxes attributable to […]
405-B:4 Single Home State Rate; Surplus Lines. – I. Every person who procures or causes to be procured or continues or renews insurance with a surplus lines company shall collect and pay to the commissioner a sum based on the total gross premiums charged, less any return premiums, for surplus insurance provided by the […]
405-B:5 Single Home State Rate; Independently Procured Under RSA 406-B:16. – I. Every insured who procures or causes to be procured or continues or renews insurance with any unlicensed insurer pursuant to RSA 406-B:16 shall collect and pay to the commissioner a sum based on the total gross premiums charged, less any return premiums, […]
405-B:6 Single Home State Rate; Independently Procured Under RSA 406-B:17. – I. Every insured who procures or causes to be procured or continues or renews insurance with any unlicensed insurer pursuant to RSA 406-B:17 shall collect and pay to the commissioner a sum based on the total gross premiums charged, less any return premiums, […]
405-B:7 Clearinghouse Participation. – The commissioner is authorized to participate in the clearinghouse established through the agreement or compact for the purpose of collecting and disbursing to reciprocal states any funds collected pursuant to RSA 405-B:4, RSA 405-B:5, and RSA 405-B:6 on properties, risks or exposures located or to be performed outside of this […]
405-B:8 Allocation Schedule. – The commissioner is authorized to utilize or adopt the allocation schedule included in the agreement or compact for the purpose of allocating risk and computing the tax due on the portion of premium attributable to each risk classification and to each state where properties, risks or exposures are located. Source. […]
