New Hampshire Code of Administrative Rules
Ins - Commissioner, Insurance Department
Chapter Ins 3200 - SALES OF INSURANCE BY FINANCIAL INSTITUTIONS
Part Ins 3203 - PROCEDURES FOR AUTHORITY TO SELL INSURANCE
Section Ins 3203.04 - Independent Agent or Agency
Universal Citation: NH Admin Rules Ins 3203.04
Current through Register No. 40, October 3, 2024
(a) An independent agent or insurance agency may lease, rent, or otherwise occupy space in an unlicensed financial institution subject to the following conditions:
(1) The dollar amount of rent shall be fixed
and shall not be based on a percentage of premium income or otherwise tied to
the transaction of insurance;
(2)
The lease shall contain:
a. A clause
expressly negating a partnership or joint venture;
b. A clause stipulating that the landlord has
no right to exercise control over the tenant insurance agency except for
collection of rent or other common and usual landlord/tenant activities and
relationships; and
(3)
The lease shall contain a clause requiring the insurance agency to comply with
the separation of activities and disclosure requirements of RSA Chapter
406-C.
#7064, eff 7-24-99
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