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RSA 405-A:4 · Compulsory Associations

Title
XXXVII: INSURANCE
Chapter
405-A · RISK RETENTION ACT
Status
current
Official source linked
Yes
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405-A:4 Compulsory Associations. –

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I.

No risk retention group shall be required or permitted to join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism, in this state, nor shall any risk retention group, or its insureds or claimants against its insureds, receive any benefit from any such fund for claims arising under the insurance policies issued by such risk retention group.

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II.

When a purchasing group obtains insurance covering its members' risks from an insurer not authorized in this state or a risk retention group, no such risks, wherever resident or located, shall be covered by any insurance guaranty fund or similar mechanism in this state.

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III.

When a purchasing group obtains insurance covering its members' risks from an authorized insurer, only risks resident or located in this state shall be covered by the fund administered by the New Hampshire Insurance Guaranty Association established in RSA 404-B.

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IV.

A risk retention group shall participate in this state's joint underwriting associations and mandatory liability pools as authorized by RSA 404-C. Source. 1988, 133:2, eff. April 20, 1988.

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Source note

Source. 1988, 133:2, eff. April 20, 1988.

Source history

  • 1988, 133:2, eff. April 20, 1988

Related materials

Bill relationships

  • 2026 SB614 reference · effective 2027-07-01

    ually self-insures for property and liability risks; II. Participates in a risk pooling arrangement, including a risk retention group or a risk purchasing group, regulated under RSA 405-A, or is a captive insurer authorized in its state of domicile; or III. Comprises only units of local government or is a group that comprises local governments joined by an interlocal agreement authorized by RSA 5-B.

  • 2026 SB614-FN reference · effective 2027-07-01

    ually self-insures for property and liability risks; II. Participates in a risk pooling arrangement, including a risk retention group or a risk purchasing group, regulated under RSA 405-A, or is a captive insurer authorized in its state of domicile; or III. Comprises only units of local government or is a group that comprises local governments joined by an interlocal agreement authorized by RSA 5-B.