2016 New Hampshire Revised Statutes
Title XXXVII - INSURANCE
Chapter 402-K - SALE OF PORTABLE ELECTRONICS INSURANCE
Section 402-K:7 - Application for License and Fees.

    402-K:7 Application for License and Fees. –
    I. A sworn application for a license under this chapter shall be made to and filed with the commissioner on forms prescribed and furnished by the commissioner.
    II. The application shall provide:
       (a) The name, residence address, and other information required by the commissioner for an employee or officer of the vendor that is designated by the applicant as the person responsible for the vendor's compliance with the requirements of this chapter. However, if the vendor derives more than 50 percent of its revenue from the sale of portable electronics insurance the information noted above shall be provided for all officers, directors, and shareholder of record having beneficial ownership of 10 percent or more of any class of securities registered under the federal securities law; and
       (b) The location of the applicant's home office.
    III. Any vendor engaging in portable electronics insurance transactions on or before the effective date of this chapter shall apply for licensure within 90 days of the application being made available by the commissioner. Any applicant commencing operations after the effective date of this chapter shall obtain a license prior to offering portable electronics insurance.
    IV. Initial licenses issued pursuant to this chapter shall be valid for a period of 24 months and expire on the next June 14 following such registration unless renewed prior to that date.
    V. Each vendor of portable electronics licensed under this chapter shall pay to the commissioner a fee as prescribed by the commissioner but in no event shall the fee exceed $1,000 for an initial portable electronics limited lines license and $500 for each renewal thereof. However, for a vendor that is engaged in portable electronics transactions at 10 or fewer locations in the state the fee shall not exceed $100 for an initial license and for each renewal thereof.

Source. 2012, 290:1, eff. Sept. 15, 2012.