415-C:1 Definitions. – In this chapter: I. " Commissioner " means the insurance commissioner. II. " Consumer " means a natural person who, for personal or family use and not for commercial or research purposes: (a) Buys or sells residential real property, or (b) Buys other than for purposes of resale any tangible personal […]
415-C:10 Penalties. – The commissioner, after proper notice and opportunity for hearing, may take action to enforce the provisions of this chapter, or rules adopted pursuant to this chapter, and may: I. Revoke or suspend the obligor’s registration. II. Order the obligor to cease and desist from further consumer guaranty contract operations. III. Impose […]
415-C:10-a Action Against an Obligor, Designee or Representative of an Obligor. – I. When an obligor, its designee, or any other representative of an obligor, including a seller or administrator, in any action or proceeding brought by the insurance commissioner has been found to be in violation of this chapter or has been ordered […]
415-C:11 Rulemaking. – The commissioner may adopt rules under RSA 541-A that are reasonable and necessary for the implementation and administration of this chapter, including rules relative to enforcement procedures and procedures governing registration requirements, verification of fiscal responsibility, and examinations by the department. Source. 2004, 224:1, eff. Jan. 1, 2005.
415-C:12 Severability. – If any provision of this chapter, or the application of the provision to any person or circumstances, shall be held invalid, the remainder of the chapter, and the application of the provision to persons or circumstances other than those as to which it is held invalid, shall not be affected. Source. […]
415-C:2 Exemptions. – I. Manufacturer’s service contracts on the manufacturer’s products need only comply with RSA 415-C:5, 415-C:6, 415-C:7, 415-C:9, 415-C:10, and RSA 415-C:10-a. II. Consumer guaranty contracts are not insurance and are exempt from this state’s insurance laws, except for the provisions of RSA 400-A:16 through RSA 400-A:25 or as provided by this […]
415-C:3 Obligor Registration. – I. No obligor shall offer, administer, sell, solicit, negotiate, or act under a consumer guaranty contract in this state unless: (a) The obligor registers with the commissioner on a form prescribed by the commissioner and pays the registration fee required by RSA 400-A:29, VIII-a(a); or (b) The obligor is authorized […]
415-C:4 Fiscal Requirements. – An obligor shall provide proof of financial responsibility to the insurance department by: I. Posting a bond in the amount of at least $25,000 or 5 percent of all consumer guarantee contracts sold in New Hampshire, whichever is greater, up to a maximum of $250,000 and maintaining a reserve account […]
415-C:5 Recordkeeping Requirements. – I. Books and records: (a) An obligor shall keep accurate accounts, books, and records concerning transactions regulated under this chapter. (b) An obligor’s accounts, books, and records shall include: (1) Copies of each type of consumer guaranty contract issued. (2) The name and address of each contract holder to the […]
415-C:6 Contract Disclosures. – I. Consumer guaranty contracts shall not be issued, sold, or offered for sale in this state unless the obligor or a sales representative with express authority from the obligor has: (a) Provided a receipt for, or other written evidence of, the purchase of the consumer guaranty contract to the contract […]
415-C:7 Prohibited Acts and Terms. – I. No obligor, its designee, or any other representative of an obligor, including a seller or administrator, shall in connection with the sale, or offer to sell, or any advertisement or in connection with any benefits, advantages, conditions, terms, or services available under a consumer guaranty contract: (a) […]
415-C:8 Reimbursement Insurance Policies. – I. Consumer guaranty contracts insured under a reimbursement insurance policy shall state: (a) The name, address, and toll-free number of the reimbursement insurer; and (b) The obligation of the reimbursement insurer to reimburse or, in the event of the obligor’s non-performance, to pay on behalf of the obligor any […]
415-C:9 Examination. – For the purpose of determining an obligor’s financial stability and protecting consumer interests in the case of complaint, the commissioner shall have the power to examine under RSA 400-A:37 and to investigate the affairs of every obligor engaged in the business of consumer guaranty contracts in this state to determine compliance […]
