New Hampshire Revised Statutes 404-D:5 – Definitions
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As used in this chapter:
I. “Account” means any of the 3 accounts created under N.H. Rev. Stat. § 404-D:6.
II. “Association” means the New Hampshire life and health insurance guaranty association created under N.H. Rev. Stat. § 404-D:6.
III. “Commissioner” means the commissioner of insurance.
IV. “Contractual obligation” means any obligation under covered policies.
V. “Covered policy” means any policy or contract within the scope of N.H. Rev. Stat. § 404-D:3.
VI. “Impaired insurer” means:
(a) An insurer which after the effective date of this chapter, is declared insolvent and placed under a final order of liquidation, rehabilitation, or conservation by a court of competent jurisdiction, or
(b) An insurer deemed by the commissioner after the effective date of this chapter to be unable to fulfill its contractual obligations.
VII. “Member insurer” means any person authorized to transact in this state any kind of insurance to which this chapter applies under N.H. Rev. Stat. § 404-D:3.
VIII. “Premiums” means direct gross insurance premiums and annuity considerations written on covered policies, less return premiums and considerations thereon and dividends paid or credited to policyholders on such direct business. “Premiums” do not include premiums and considerations on contracts between insurers and reinsurers. As used in N.H. Rev. Stat. § 404-D:9, “premiums” are those for the calendar year preceding the determination of impairment.
IX. “Person” means any individual, corporation, partnership, association or voluntary organization.
X. “Resident” means any person who resides in this state at the time the impairment is determined and to whom contractual obligations are owed.
I. “Account” means any of the 3 accounts created under N.H. Rev. Stat. § 404-D:6.
Terms Used In New Hampshire Revised Statutes 404-D:5
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Association: means the New Hampshire life and health insurance guaranty association created under N. See New Hampshire Revised Statutes 404-D:5
- Commissioner: means the commissioner of insurance. See New Hampshire Revised Statutes 404-D:5
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means any individual, corporation, partnership, association or voluntary organization. See New Hampshire Revised Statutes 404-D:5
- Premiums: means direct gross insurance premiums and annuity considerations written on covered policies, less return premiums and considerations thereon and dividends paid or credited to policyholders on such direct business. See New Hampshire Revised Statutes 404-D:5
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
II. “Association” means the New Hampshire life and health insurance guaranty association created under N.H. Rev. Stat. § 404-D:6.
III. “Commissioner” means the commissioner of insurance.
IV. “Contractual obligation” means any obligation under covered policies.
V. “Covered policy” means any policy or contract within the scope of N.H. Rev. Stat. § 404-D:3.
VI. “Impaired insurer” means:
(a) An insurer which after the effective date of this chapter, is declared insolvent and placed under a final order of liquidation, rehabilitation, or conservation by a court of competent jurisdiction, or
(b) An insurer deemed by the commissioner after the effective date of this chapter to be unable to fulfill its contractual obligations.
VII. “Member insurer” means any person authorized to transact in this state any kind of insurance to which this chapter applies under N.H. Rev. Stat. § 404-D:3.
VIII. “Premiums” means direct gross insurance premiums and annuity considerations written on covered policies, less return premiums and considerations thereon and dividends paid or credited to policyholders on such direct business. “Premiums” do not include premiums and considerations on contracts between insurers and reinsurers. As used in N.H. Rev. Stat. § 404-D:9, “premiums” are those for the calendar year preceding the determination of impairment.
IX. “Person” means any individual, corporation, partnership, association or voluntary organization.
X. “Resident” means any person who resides in this state at the time the impairment is determined and to whom contractual obligations are owed.