N.H. Admin. Code § Ins 3203.04

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

#7064, eff 7-24-99