RSA 405-B:5 · Single Home State Rate; Independently Procured Under RSA 406-B:16

405-B:5 Single Home State Rate; Independently Procured Under RSA 406-B:16. –

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I.

Every insured who procures or causes to be procured or continues or renews insurance with any unlicensed insurer pursuant to RSA 406-B:16 shall collect and pay to the commissioner a sum based on the total gross premiums charged, less any return premiums, for independently procured insurance.

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II.

Where the insurance covers properties, risks, or exposures located or to be performed both in and out of this state, the sum payable shall be computed based on:

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(a)

An amount equal to 3 percent on the portion of the gross premiums allocated to this state, plus

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(b)

An amount equal to 3 percent on the portion of the premiums allocated to other states or territories, less

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(c)

The amount of gross premiums allocated to this state and returned to the insured. Source. 2011, 191:5, eff. Aug. 13, 2011. 2019, 141:2, eff. Jan. 1, 2020.

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