Section 411-A:20 Hydrocarbon Production Payments. - New-hampshire Statutes

State Codes and Statutes

Statutes > New-hampshire > TITLEXXXVII > CHAPTER411-A > 411-A-20

An insurer may invest in production payments, or interests therein evidenced by trust certificates or other instruments, payable from oil, gas or other hydrocarbons in producing properties located in the United States or the adjacent continental shelf if an obligation secured by and payable from such production payment or interest therein would qualify for investment under RSA 411-A:9 as an obligation which is adequately secured and has investment qualities and characteristics wherein the speculative elements are not predominant. For purposes of this section ""production payments'' shall be deemed to mean right to oil, gas or other hydrocarbons in place or as produced which entitle the owner thereof to a specified fraction or percentage of production until a specified sum of money has been received.

Source. 1978, 11:1, eff. July 1, 1978.

State Codes and Statutes

Statutes > New-hampshire > TITLEXXXVII > CHAPTER411-A > 411-A-20

An insurer may invest in production payments, or interests therein evidenced by trust certificates or other instruments, payable from oil, gas or other hydrocarbons in producing properties located in the United States or the adjacent continental shelf if an obligation secured by and payable from such production payment or interest therein would qualify for investment under RSA 411-A:9 as an obligation which is adequately secured and has investment qualities and characteristics wherein the speculative elements are not predominant. For purposes of this section ""production payments'' shall be deemed to mean right to oil, gas or other hydrocarbons in place or as produced which entitle the owner thereof to a specified fraction or percentage of production until a specified sum of money has been received.

Source. 1978, 11:1, eff. July 1, 1978.

State Codes and Statutes

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State Codes and Statutes

Statutes > New-hampshire > TITLEXXXVII > CHAPTER411-A > 411-A-20

An insurer may invest in production payments, or interests therein evidenced by trust certificates or other instruments, payable from oil, gas or other hydrocarbons in producing properties located in the United States or the adjacent continental shelf if an obligation secured by and payable from such production payment or interest therein would qualify for investment under RSA 411-A:9 as an obligation which is adequately secured and has investment qualities and characteristics wherein the speculative elements are not predominant. For purposes of this section ""production payments'' shall be deemed to mean right to oil, gas or other hydrocarbons in place or as produced which entitle the owner thereof to a specified fraction or percentage of production until a specified sum of money has been received.

Source. 1978, 11:1, eff. July 1, 1978.