PART III. ANNUAL REQUIREMENTS AND LIMITING PROVISIONS

 

§431:3-301  Annual and quarterly filingswith commissioner.  (a)  Each domestic, foreign, and alien insurer that isauthorized to transact insurance in this State shall file annually with thecommissioner, on or before March 1 of each year, a copy of its annual statementconvention blank, statement of actuarial opinion by a qualified actuary orspecialist, and additional filings as prescribed by the commissioner for thepreceding year.  Each insurer shall file quarterly, on or before theforty-fifth day after each quarter, a copy of its quarterly statement.  Thestatements shall be prepared in accordance with the National Association ofInsurance Commissioners' annual statement instructions, following the practicesand procedures prescribed by the National Association of InsuranceCommissioners' accounting practices and procedures manuals.  The annual andquarterly statements shall be verified by oaths of at least two of theinsurer's principal officers, or the attorney-in-fact in the case of areciprocal insurer, or the United States manager in the case of an alieninsurer.  The statement of an alien insurer shall relate only to itstransactions and affairs in the United States.  Foreign and alien insurers thatare in compliance with section 431:3-302 are not required to file annual andquarterly statements with this State.

(b)  Each insurer shall file the tax statementprovided for by section 431:7-201.

(c)  Any insurer failing or refusing to submitthe annual or quarterly filing or any of the documents in accordance with thissection shall be liable for a fine in an amount not less than $100 and not morethan $500 for each day of delinquency.  The commissioner may suspend or revokethe certificate of authority of any insurer that fails to file any of thedocuments required pursuant to this section. [L 1987, c 347, pt of §2; am L1992, c 176, §9; am L 1993, c 205, §6 as superseded by c 321, §9; am L 1994, c128, §2; am L 1995, c 232, §11; am L 1997, c 36, §2; am L 2003, c 212, §22]