N.H. Admin. Code § Ins 3204.03

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

#7064, eff 7-24-99