Current through Register No. 50, December 12, 2024
Section Ins 3204.03 - Disclosures When Insurance is Required as a Condition of Obtaining a Loan(a) When a financial institution requires a customer to obtain insurance in connection with a loan the financial institution may inform customers that insurance is available from the financial institution, its subsidiary or an affiliate.(b) To avoid the impression that a connection exists between the financial institution's credit decision and the customer's choice of insurance seller, when insurance is available through the financial institution, a customer applying for a loan or an extension of credit shall be informed by the financial institution that: (1) The customer shall not be required to purchase insurance from the financial institution, a subsidiary or an affiliate; and,(2) The purchase of insurance from an agent of the customer's choice shall not affect current or future credit decisions.N.H. Admin. Code § Ins 3204.03