New Hampshire Revised Statutes 401:1-a – Purposes; Miscellaneous Insurance
Current as of: 2023 | Check for updates
|
Other versions
I. Any corporation formed or authorized for the purpose of conducting one or more of the kinds of insurance found in N.H. Rev. Stat. § 401:1, or licensed or authorized pursuant to RSA 405, shall be permitted to conduct other kinds of insurance not enumerated in N.H. Rev. Stat. § 401:1 as the commissioner may permit by rule pursuant to paragraph II below.
II. If the commissioner determines that there exists a kind of insurance which is not enumerated in N.H. Rev. Stat. § 401:1 and such kind of insurance is properly the subject of insurance, and is in the public interest, the commissioner may by rule adopted under N.H. Rev. Stat. Chapter 541-A permit corporations to conduct said kind or kinds of insurance as miscellaneous insurance. Corporations may conduct miscellaneous insurance in combination with one or more other kinds of insurance specified in N.H. Rev. Stat. § 401:1 as permitted by the commissioner. However, no corporation shall conduct a kind of miscellaneous insurance unless that kind of miscellaneous insurance has been specifically permitted by the commissioner.
III. An insurance company or other insurer need not have its physical license or authorization amended to permit it to write a kind of miscellaneous insurance provided the company or other insurer has been notified by the commissioner of a decision made pursuant to paragraph II.
II. If the commissioner determines that there exists a kind of insurance which is not enumerated in N.H. Rev. Stat. § 401:1 and such kind of insurance is properly the subject of insurance, and is in the public interest, the commissioner may by rule adopted under N.H. Rev. Stat. Chapter 541-A permit corporations to conduct said kind or kinds of insurance as miscellaneous insurance. Corporations may conduct miscellaneous insurance in combination with one or more other kinds of insurance specified in N.H. Rev. Stat. § 401:1 as permitted by the commissioner. However, no corporation shall conduct a kind of miscellaneous insurance unless that kind of miscellaneous insurance has been specifically permitted by the commissioner.
Terms Used In New Hampshire Revised Statutes 401:1-a
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
III. An insurance company or other insurer need not have its physical license or authorization amended to permit it to write a kind of miscellaneous insurance provided the company or other insurer has been notified by the commissioner of a decision made pursuant to paragraph II.