Section 402-J:14 Appointments and Authority.
I. An insurance producer shall not act as an agent of an insurer unless the insurance producer becomes an appointed agent of that insurer. An insurance producer who is not acting as an agent of an insurer is not required to become appointed.
II. To appoint a producer as its agent, the appointing insurer shall file, in a format approved by the commissioner, a notice of appointment within 15 days from the date the agency contract is executed or the first insurance application is submitted. An insurer may also elect to appoint a producer to all or some insurers within the insurer's holding company system or group by the filing of a single appointment request.
III. An insurer shall pay an appointment fee, in the amount and method of payment set forth in RSA 400-A:29 for each insurance producer appointed by the insurer.
IV. While such producer's appointment remains in force, an insurer shall be bound by the acts of the person named therein within his or her apparent authority as its acknowledged producer.
V. No such company shall issue a policy or other evidence of insurance through an unlicensed producer or other unlicensed person. Any violation of this provision shall, after hearing, subject the insurer to an administrative fine, pursuant to RSA 400-A:15, III, and, upon repeated violations, the commissioner may suspend or revoke the license of the company.
Source. 2000, 315:1. 2001, 95:1. 2003, 144:5, eff. Jan. 1, 2004.