408-C:1 Purposes. – The purposes of this compact are, through means of joint and cooperative action among the compacting states: I. To promote and protect the interest of consumers of individual and group annuity, life insurance, disability income and long-term care insurance products. II. To develop uniform standards for insurance products covered under the […]
408-C:10 Product Filing and Approval. – I. Insurers and third-party filers seeking to have a product approved by the commission shall file the product with, and pay applicable filing fees to, the commission. Nothing in this chapter shall be construed to restrict or otherwise prevent an insurer from filing its product with the insurance […]
408-C:11 Review of Commission Decisions Regarding Filings. – I. Not later than 30 days after the commission has given notice of a disapproved product or advertisement filed with the commission, the insurer or third party filer whose filing was disapproved may appeal the determination to a review panel appointed by the commission. The commission […]
408-C:12 Finance. – I. The commission shall pay or provide for the payment of the reasonable expenses of its establishment and organization. To fund the cost of its initial operation, the commission may accept contributions and other forms of funding from the National Association of Insurance Commissioners, compacting states and other sources. Contributions and […]
408-C:13 Compacting States, Effective Date, and Amendment. – I. Any state is eligible to become a compacting state. II. The compact shall become effective and binding upon legislative enactment of the compact into law by 2 compacting states; provided, the commission shall become effective for purposes of adopting uniform standards for, reviewing, and giving […]
408-C:14 Withdrawal, Default, and Termination. – I. (a) Once effective, the compact shall continue in force and remain binding upon each and every compacting state; provided, that a compacting state may withdraw from the compact (" withdrawing state ") by enacting a statute specifically repealing the statute which enacted the compact into law. (b) […]
408-C:15 Severability and Construction. – The provisions of this compact shall be severable; and if any phrase, clause, sentence or provision of this compact is declared to be unconstitutional or the applicability thereof, to any state, agency, person, or circumstances held invalid, the constitutionality of the remainder of this compact and the applicability thereof, […]
408-C:16 Binding Effect of Compact and Other Laws. – I. (a) Nothing in this chapter shall prevent the enforcement of any other law of a compacting state, except as provided in subparagraph (b). (b) For any product approved or certified to the commission, the rules, uniform standards and any other requirements of the commission […]
408-C:2 Definitions. – For purposes of this compact: I. " Advertisement " means any material designed to create public interest in a product, or induce the public to purchase, increase, modify, reinstate, borrow on, surrender, replace or retain a policy, as more specifically defined in the rules and operating procedures of the commission. II. […]
408-C:3 Commission Established and Venue. – I. The compacting states hereby create and establish a joint public agency known as the " Interstate Insurance Product Regulation Commission. " Pursuant to RSA 408-C:4, the commission shall have the power to develop uniform standards for product lines, receive and provide prompt review of products filed therewith, […]
408-C:4 Powers of the Commission. – The commission shall have the following powers: I. To promulgate rules, pursuant to RSA 408-C:7, which shall have the force and effect of law and shall be binding in the compacting states to the extent and in the manner provided in this compact. II. To exercise its rulemaking […]
408-C:5 Organization of the Commission. – I. Membership, voting and bylaws: (a) Each compacting state shall have and be limited to one member. Each member shall be qualified to serve in that capacity pursuant to applicable law of the compacting state. Any member may be removed or suspended from office as provided by the […]
408-C:6 Meetings and Acts of the Commission. – I. The commission shall meet and take such actions as are consistent with the provisions of this compact and the bylaws. II. Each member of the commission shall have the right and power to cast a vote to which that compacting state is entitled and to […]
408-C:7 Rules and Operating Procedures; Rulemaking Functions of the Commission and Opting Out of Uniform Standards. – I. The commission shall promulgate reasonable rules, including uniform standards, and operating procedures in order to effectively and efficiently achieve the purposes of this compact. Notwithstanding the foregoing, in the event the commission exercises its rulemaking authority […]
408-C:8 Commission Records and Enforcement. – I. The commission shall promulgate rules establishing conditions and procedures for public inspection and copying of its information and official records, except such information and records involving the privacy of individuals and insurers’ trade secrets. The commission may promulgate additional rules under which it may make available to […]
408-C:9 Dispute Resolution. – The commission shall attempt, upon the request of a member, to resolve any dispute or other issues that are subject to this compact and which may arise between 2 or more compacting states, or between compacting states and non-compacting states, and the commission shall promulgate an operating procedure providing for […]
