§431:9B-103  Required contract provisions;
reinsurance intermediary-brokers.  Transactions between a reinsurance
intermediary-broker and the insurer it represents in that capacity shall only
be entered into pursuant to a written authorization, specifying the
responsibilities of each party.  The authorization, at a minimum, shall provide
that:



(1)  The insurer may terminate the reinsurance
intermediary-broker's authority at any time;



(2)  The reinsurance intermediary-broker shall render
accounts to the insurer accurately detailing all material transactions,
including information necessary to support all commissions, charges, and other
fees received by, or owing to, the reinsurance intermediary-broker, and remit
all funds due to the insurer within thirty days of receipt;



(3)  All funds collected for the insurer's account
shall be held by the reinsurance intermediary-broker in a fiduciary capacity
and deposited in a bank that is a qualified United States financial
institution;



(4)  The reinsurance intermediary-broker shall comply
with section 431:9B-104;



(5)  The reinsurance intermediary-broker shall comply
with the written standards established by the insurer for the cession or
retrocession of all risks; and



(6)  The reinsurance intermediary-broker shall disclose
to the insurer any relationship with any reinsurer to which business will be
ceded or retroceded. [L 1992, c 176, pt of §6; am L 1993, c 321, §12]