New Hampshire § 402-C:42 Claims of Surety

New Hampshire Statutes

§ 402-C:42 — Claims of Surety

New Hampshire § 402-C:42

Title XXXVIIINSURANCE

Ch. 402-CINSURERS REHABILITATION AND LIQUIDATION

SubdivisionFormal Proceedings

This text of New Hampshire § 402-C:42 (Claims of Surety) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 402-C:42 (2026).

Text

Whenever a creditor whose claim against an insurer is secured in whole or in part by the undertaking of another person fails to prove and file that claim, the other person may do so in the creditor's name, and shall be subrogated to the rights of the creditor, whether the claim has been filed by the creditor or by the other person in the creditor's name, to the extent that he discharges the undertaking. In the absence of an agreement with the creditor to the contrary, the other person shall not be entitled to any dividend until the amount paid to the creditor on the undertaking plus the dividends paid on the claim from the insurer's estate to creditor equals the amount of the entire claim of the creditor. Any excess received by the creditor shall be held by him in trust for such other pers

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Whenever a creditor whose claim against an insurer is secured in whole or in part by the undertaking of another person fails to prove and file that claim, the other person may do so in the creditor's name, and shall be subrogated to the rights of the creditor, whether the claim has been filed by the creditor or by the other person in the creditor's name, to the extent that he discharges the undertaking. In the absence of an agreement with the creditor to the contrary, the other person shall not be entitled to any dividend until the amount paid to the creditor on the undertaking plus the dividends paid on the claim from the insurer's estate to creditor equals the amount of the entire claim of the creditor. Any excess received by the creditor shall be held by him in trust for such other person.