Current through Register No. 50, December 12, 2024
Section Ins 3203.04 - Independent Agent or Agency(a) An independent agent or insurance agency may lease, rent, or otherwise occupy space in an unlicensed financial institution subject to the following conditions: (1) The dollar amount of rent shall be fixed and shall not be based on a percentage of premium income or otherwise tied to the transaction of insurance;(2) The lease shall contain: a. A clause expressly negating a partnership or joint venture;b. A clause stipulating that the landlord has no right to exercise control over the tenant insurance agency except for collection of rent or other common and usual landlord/tenant activities and relationships; and(3) The lease shall contain a clause requiring the insurance agency to comply with the separation of activities and disclosure requirements of RSA Chapter 406-C.N.H. Admin. Code § Ins 3203.04