(a) An independent agent or insurance agency may lease, rent, or otherwise occupy space in an unlicensed financial institution subject to the following conditions:
- (1) The dollar amount of rent shall be fixed and shall not be based on a percentage of premium income or otherwise tied to the transaction of insurance;
(2) The lease shall contain:
- a. A clause expressly negating a partnership or joint venture;
- b. A clause stipulating that the landlord has no right to exercise control over the tenant insurance agency except for collection of rent or other common and usual landlord/tenant activities and relationships; and
- (3) The lease shall contain a clause requiring the insurance agency to comply with the separation of activities and disclosure requirements of RSA Chapter 406-C.
Source. #7064, eff 7-24-99