Section Lab 408.07 - Fiduciary Obligation(a) Each TPA shall establish a premium trust account if the TPA expects to receive premiums or return premiums on New Hampshire business.(b) If the account is interest bearing, the TPA shall comply with Lab 408.11.(c) Fiduciary funds on New Hampshire business shall at all times be maintained in the premium trust account separate from any other account of depository. Such account shall be in an amount at least equal to the premiums and return premiums, net of commission, received by the TPA.(d) The TPA's New Hampshire premium trust account signature card shall contain the following notation: "This is an insurance premium trust account maintained under the provisions of RSA 281-A:5-d."(e) Checks drawn on the premium trust account shall bear the notation "Premium Trust Account".N.H. Admin. Code § Lab 408.07
#7142, eff 11-24-99, EXPIRED: 11-24-07
New. #9878-A eff 2-25-11
Amended by Volume XXXIX Number 28, Filed July 11, 2019, Proposed by #12815, Effective 6/26/2019, Expires 6/26/2029.