Section 404-C:11 State Contribution for Federally Reinsured Losses and Assessment of Insurers. - New Hampshire Statutes

The commissioner is authorized to assess each insurance company authorized to do business in this state an aggregate amount sufficient to provide a fund to reimburse the United States Secretary of Housing and Urban Development as provided in section 1223(a)(1) of the National Housing Act as amended by section 1103 of the Urban Property Protection and Reinsurance Act of 1968, P.L. 90-448, 82 Stat. 476. The assessment shall be made on those lines of insurance coverage reinsured during the current year in this state by the United States Secretary of Housing and Urban Development pursuant to such chapter. The assessment shall be in the proportion that the premiums earned during the preceding calendar year by each such company in this state bear to the aggregate premiums earned on those lines of insurance in this state by all insurers. The fund may be provided in whole or in part from appropriations by the legislature.

Source. 1971, 488:1, eff. Aug. 31, 1971.