§431:10B-110  Issuance of policies. 
(a)  All policies of credit life insurance and credit disability insurance
shall be delivered or issued for delivery in this State only by an insurer
authorized to do an insurance business in this State, and shall be issued only
through holders of certificates, licenses or authorizations issued by the
commissioner.



(b)  The enrolling of debtors under a group
creditor policy and the issuance of certificates of insurance pursuant thereto
or the issuing of individual policies by a creditor shall not be considered a
sale or solicitation of insurance or the transaction of an insurance business. 
A limited license issued under section 431:9A-107.5 shall be required for such
acts.  A producer's license shall not be required.



(c)  A group creditor policy issued by an
admitted insurer to a creditor on which the entire premium is paid by the
creditor wholly from the creditor's funds shall be considered a
seller-purchaser relationship and not a principal-agent relationship.  Notwithstanding
subsection (a), a license shall not be required for the issuance of
certificates of insurance under group creditor policy that is subject to this
subsection. [L 1987, c 347, pt of §2; am L 2001, c 216, §17; am L 2002, c 155,
§68]