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RSA 408-E:3 · Authorization and Regulation of Funding Agreements

Title
XXXVII: INSURANCE
Chapter
408-E · FUNDING AGREEMENTS
Status
current
Official source linked
Yes
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408-E:3 Authorization and Regulation of Funding Agreements. –

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I.

Any licensed life insurance company may deliver or issue for delivery one or more funding agreements.

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II.

For the purposes of RSA 402-C:44, funding agreements shall be treated as insurance contracts, and holders of funding agreements shall be entitled to the same priority of distribution as policyholders.

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III.

Except as provided in this chapter, funding agreements shall not be subject to consumer protections that apply to annuity contracts including free-look requirements that permit consumers to void an issued contract and receive a return of premium by returning the contract within a specified time frame.

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IV.

Funding agreements shall be filed for approval by the commissioner consistent with this chapter. Source. 2013, 108:1, eff. Aug. 23, 2013.

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Source note

Source. 2013, 108:1, eff. Aug. 23, 2013.

Source history

  • 2013, 108:1, eff. Aug. 23, 2013