A PBM shall be subject to the provisions of RSA 402-N:2, III for the following reasons:

1. (a) Failure to comply with any provisions of this part or of RSA 402-N;
2. (b) Failure to comply with any lawful order of the commissioner;
3. (c) Committing an unfair or deceptive act or practice as described in RSA 417;
4. (d) Filing an application or any necessary forms with the department which contain fraudulent information or omissions;
5. (e) Misappropriation, conversion, illegal withholding, or refusal to pay over, upon proper demand, any monies that belong to a person otherwise entitled to them and that have been entrusted to the PBM;

6. (f) Evidence that an owner, principal, officer, partner, manager, director, trustee, or the PBM itself has:

   1. (1) Had an insurance license or an application for an insurance license in any state denied, suspended, or revoked;
   2. (2) Been the subject of a fine, penalty, order, withdrawal, or informal settlement with any state insurance department; or
   3. (3) Pled guilty or no contest to any felony or misdemeanor; or
7. (g) Failure to meet any qualification for which registration would have been refused had such failure then existed and been known to the Department.

Source. (See Revision Note at part heading for Ins 2704) #13059, eff 6-29-20