New Hampshire Revised Statutes 408:20 – Group Annuities Defined
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In New Hampshire Revised Statutes 408:20
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
No group annuity may be delivered or issued for delivery in this state to a group which does not meet the definition of group annuity as defined in rules. The commissioner may promulgate rules defining groups for annuities.