RSA 411-A:12 · Insurance Stocks

411-A:12 Insurance Stocks. –

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I.

An insurer may, within the limitations set forth in RSA 401-B:2, invest in the stocks of any solvent insurance company formed under the laws of this or another state, provided that such stocks meet the applicable requirements of RSA 411-A:10 or 411-A:11.

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II.

With the commissioner's advance written consent an insurer may acquire and hold the controlling interest in the outstanding voting stock of a stock insurer formed under the laws of this or another state. The commissioner shall not give his consent if he finds that such acquisition would not be in the best interests of the insurers involved, or of their respective policyholders or stockholders, or that it would lessen competition in the insurance business.

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III.

An insurer may invest not more than 5 percent of its assets in the stock of any company owning or holding the stock of any life insurance company or companies. Source. 1978, 11:1, eff. July 1, 1978.

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