New Hampshire Revised Statutes 409-A:10 – Operative Date
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Terms Used In New Hampshire Revised Statutes 409-A:10
- 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.
After August 1, 1979, any company may file with the commissioner a written notice of its election to comply with the provisions of this chapter after a specified date before August 1, 1981. After filing of such notice, then upon such specified date, which shall be the operative date of this chapter for such company, this chapter shall become operative with respect to annuity contracts thereafter issued by such company. If a company makes no such election, the operative date of this chapter for such company shall be August 1, 1981.