N.H. Rev. Stat. § 402-C:5

Current through the 2024 Legislative Session

Section 402-C:5 - Injunctions and Orders

I. Injunctions in This State. Any receiver appointed in a proceeding under this chapter may at any time apply for and any court of general jurisdiction in this state may grant, such restraining orders, temporary and permanent injunctions, and other orders as are deemed necessary and proper to prevent:

(a) The transaction of further business;

(b) The transfer of property;

(c) Interference with the receiver or with the proceedings;

(d) Waste of the insurer's assets;

(e) Dissipation and transfer of bank accounts;

(f) The institution or further prosecution of any actions or proceedings;

(g) The obtaining of preferences, judgments, attachments, garnishments or liens against the insurer or its assets;

(h) The levying of execution against the insurer or its assets;

(i) The making of any sale or deed for nonpayment of taxes or assessments that would lessen the value of the assets of the insurer;

(j) The withholding from the receiver of books, accounts, documents or other records relating to the business of the insurer; or

(k) Any other threatened or contemplated action that might lessen the value of the insurer's assets or prejudice the rights of policyholders, creditors or shareholders, or the administration of the proceeding.

II. Injunctions Elsewhere. The receiver may apply to any court outside of this state for the relief described in paragraph I.

III. Exception. Notwithstanding paragraphs I and II, RSA 402-C:18, I, or any other provision of this chapter, no person shall be restrained, stayed, enjoined, or prohibited from exercising or enforcing any right or cause of action under any pledge, security, credit, collateral, loan, advances, reimbursement, or guarantee agreement or arrangement or any similar agreement, arrangement, or other credit enhancement to which a Federal Home Loan Bank is a party. A "Federal Home Loan Bank" is a government-sponsored enterprise, created by the United States Congress pursuant to the Federal Home Loan Bank Act of 1932, 12 U.S.C. section 1421 et seq. as amended, that is charged with a public mission of providing products and services that assist its members in financing housing and community lending, 12 C.F.R. section 1265.2, as amended.

RSA 402-C:5

Amended by 2023, 156:1, eff. 1/1/2024.

1969, 272:1, eff. June 23, 1969.