New Hampshire § 404-B:6 Creation of the Association

New Hampshire Statutes

§ 404-B:6 — Creation of the Association

New Hampshire·Title XXXVII INSURANCE·Ch. 404-B NEW HAMPSHIRE INSURANCE GUARANTY ASSOCIATION

There is created a nonprofit unincorporated legal entity to be known as the New Hampshire Insurance Guaranty Association. All insurers defined as member insurers in RSA 404-B:5, VI shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under RSA 404-B:9 and shall exercise its powers through a board of directors established under RSA 404-B:7. For purposes of administration and assessment, the association shall be divided into 3 separate accounts:

(a)the workmen's compensation insurance account;

(b)the automobile insurance account; and (c) the account for all other insurance to which this chapter applies.

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There is created a nonprofit unincorporated legal entity to be known as the New Hampshire Insurance Guaranty Association. All insurers defined as member insurers in RSA 404-B:5, VI shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under RSA 404-B:9 and shall exercise its powers through a board of directors established under RSA 404-B:7. For purposes of administration and assessment, the association shall be divided into 3 separate accounts: (a) the workmen's compensation insurance account; (b) the automobile insurance account; and (c) the account for all other insurance to which this chapter applies.

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