PART III. 
ANNUAL REQUIREMENTS AND LIMITING PROVISIONS



 



§431:3-301  Annual and quarterly filings
with commissioner.  (a)  Each domestic, foreign, and alien insurer that is
authorized to transact insurance in this State shall file annually with the
commissioner, on or before March 1 of each year, a copy of its annual statement
convention blank, statement of actuarial opinion by a qualified actuary or
specialist, and additional filings as prescribed by the commissioner for the
preceding year.  Each insurer shall file quarterly, on or before the
forty-fifth day after each quarter, a copy of its quarterly statement.  The
statements shall be prepared in accordance with the National Association of
Insurance Commissioners' annual statement instructions, following the practices
and procedures prescribed by the National Association of Insurance
Commissioners' accounting practices and procedures manuals.  The annual and
quarterly statements shall be verified by oaths of at least two of the
insurer's principal officers, or the attorney-in-fact in the case of a
reciprocal insurer, or the United States manager in the case of an alien
insurer.  The statement of an alien insurer shall relate only to its
transactions and affairs in the United States.  Foreign and alien insurers that
are in compliance with section 431:3-302 are not required to file annual and
quarterly statements with this State.



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



(c)  Any insurer failing or refusing to submit
the annual or quarterly filing or any of the documents in accordance with this
section shall be liable for a fine in an amount not less than $100 and not more
than $500 for each day of delinquency.  The commissioner may suspend or revoke
the certificate of authority of any insurer that fails to file any of the
documents required pursuant to this section. [L 1987, c 347, pt of §2; am L
1992, c 176, §9; am L 1993, c 205, §6 as superseded by c 321, §9; am L 1994, c
128, §2; am L 1995, c 232, §11; am L 1997, c 36, §2; am L 2003, c 212, §22]