[§431:9A-112.5]  Controlled business. (a)  The commissioner shall neither grant nor extend a producer's license toany person if the commissioner has reasonable cause to believe that:

(1)  In the case of an application for licenseextension, during either of the two calendar years immediately preceding theextension date of the license, the aggregate amount of premiums on insurancerepresented by controlled business exceeded the aggregate amount of premiums onall other insurance business of the licensee; or

(2)  The circumstances of the applicant for licenseissuance or extension are such as to cause the commissioner reasonably tobelieve that during the twelve-month period that would immediately follow theissuance or extension of the license, if granted, the aggregate amount ofpremiums on controlled business would exceed the aggregate amount of premiumson all other insurance business of the applicant.

(b)  "Controlled business" meansinsurance procured or to be procured by or through a licensee upon:

(1)  The licensee's own life, person, property, orrisks, or those of the licensee's immediate family; or

(2)  The life, person, property, or risks of thelicensee's employer or partnership, of which the licensee or a member of thelicensee's immediate family is an officer, director, substantial stockholder,partner, associate, or employee. [L 2002, c 155, pt of §3]