405-C:8 Filing of Application. –
The covered entities of a proposed multiple-caregiver self-insurance risk coverage arrangement shall file with the commissioner an application for approval, upon a form furnished by the commissioner, which shall include or have attached the following:
I. A copy of the constitution, bylaws, articles of incorporation, charter, or trust agreement.
II. The names and addresses of the officers or trustees of the arrangement, who are subject to approval by the commissioner upon the presentation of sufficient evidence to:
(a) Be competent;
(b) Have not been found to be guilty of, or to have pled guilty or no contest to a felony, or a crime involving moral turpitude;
(c) Have not had any type of professional license revoked in this or any other state; and
(d) Have not improperly manipulated assets, accounts, or specific excess insurance or to have otherwise acted in bad faith.
III. A copy of a fidelity bond in an amount equal to not less than 10 percent of the funds handled annually and issued in the name of the arrangement covering its officers, trustees, employees, administrator, or other individuals managing or handling the funds or assets of the arrangement. In no case may such bond be less than $1,000 or more than $500,000 except that the commissioner may prescribe an amount more than $500,000 after due notice and opportunity for a hearing.
IV. A plan of management and operation providing the information required in RSA 405-C:6.
V. Such additional information as the commissioner may reasonably require to determine compliance with this chapter.