Section Ins 1406.06 - Obligation of Members(a) Every member shall be bound by the plan of operation of the facility.(b) Any member whose membership in the facility terminates, nevertheless shall continue to be bound by the plan of operation of the facility with respect to its obligations incurred during its membership.(c) Any unsatisfied net liability to the facility of any insolvent member shall be assumed by and apportioned among the remaining members in the facility in the manner provided in Ins 1406.13. The facility shall have all rights allowed by law on behalf of the remaining members against the estate or funds of such insolvent member for sums due the facility.(d) When a member has been merged or consolidated into another insurer, or another insurer has reinsured a member's entire New Hampshire automobile insurance business, such member and its successors in interest and such other insurer shall be liable for such member's obligations hereunder.(e) To ensure the efficient and equitable operation of the facility, the individual members shall not be held liable for any judgment against the facility pursuant to the provisions of RSA 404-C:2, III.N.H. Admin. Code § Ins 1406.06
(See Revision Note #1 at chapter heading for Ins 1400)
Derived from Volume XLI Number 6, Filed February 11, 2021, Proposed by # 13162, Effective 1/25/2021, Expires 1/25/2031.Amended by Number 6, Filed February 9, 2023, Proposed by #13534, Effective 1/24/2023, Expires 1/24/2033.