New Hampshire Code of Administrative Rules
Ins - Commissioner, Insurance Department
Chapter Ins 1400 - AUTOMOBILE INSURANCE
Part Ins 1406 - PLAN OF OPERATION FOR THE NEW HAMPSHIRE AUTOMOBILE REINSURANCE FACILITY
Section Ins 1406.07 - Board of Governors
Current through Register No. 12, March 21, 2024
(a) The commissioner shall appoint a board of governors, hereinafter "board", composed of 12 representatives and nominated as follows:
(b) Not more than one member in a group of companies under common management or control shall be represented on the board at the same time.
(c) The names of the nominees as selected in accordance with (a) above shall be placed in nomination before the commissioner prior to the completion of the terms of the appointees that the nominees are replacing.
(d) Each board representative shall serve for a term of 2 years but may serve succeeding terms if subsequently designated to serve the additional term in the manner provided herein for the initial designation.
(e) All board representatives shall serve until their successors are designated. Any vacancy on the board, by resignation of a representative or otherwise, shall be filled in the manner provided herein for initial designation, but the designee shall serve only for the unexpired portion of the term for which the representative is designated, unless such representative is subsequently appropriately designated to serve an additional term or terms.
(f) Actions of the board shall be binding when voted by a majority of those eligible to vote who are present and voting, and no vote may be taken unless 7 representatives on the board who are eligible to vote on the matter are present. The consumer and insurance department representative on the board shall be eligible to vote on all matters not directly involving the facility's budget or personnel administration.
(g) All board meetings shall be open to members, producers, the commissioner or a person designated by the commissioner, and to the public except upon majority vote of the board when permitted or required by law.
(h) The board shall recommend to the commissioner:
(i) The board or its designees shall periodically review the market for automobile insurance throughout the state of New Hampshire to make certain that eligible risks can readily obtain such insurance. Such review shall include a review of any complaints received from the public and from duly licensed producers and addressed to the facility or to the commissioner.