New Hampshire Revised Statutes 403-A:2 – Disposal of Assets
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Terms Used In New Hampshire Revised Statutes 403-A:2
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Assets: includes all the property and rights of every kind of a domestic insurance company, or association. See New Hampshire Revised Statutes 403-A:1
- Disposal: includes any sale, transfer, exchange, assignment, alienation or other conveyance of an interest in assets, but does not include a ceding of policies pursuant to a reinsurance contract. See New Hampshire Revised Statutes 403-A:1
Any domestic insurance company or association that, within any period of 30 days, by one or more transactions, disposes of any of its assets which, in the aggregate, amount to more than 10 percent of its total assets, shall send written notification thereof to the insurance commissioner. Such notification shall be given at least 10 business days prior to the making of such disposal, and shall specify the nature and amount thereof, and identify all of the parties thereto.