CHAPTER 237
HB 479 – FINAL VERSION
05/07/2015 1477s
2015 SESSION
15-0474
03/01
HOUSE BILL 479
AN ACT relative to uninsured or hit-and-run motor vehicle coverage and relative to the New Hampshire excellence in higher education endowment trust fund.
SPONSORS: Rep. Hunt, Ches 11; Rep. Butler, Carr 7
COMMITTEE: Commerce and Consumer Affairs
AMENDED ANALYSIS
This bill modifies minimum uninsured or hit-and-run motor vehicle coverage requirements. This bill also modifies various provisions relating to the New Hampshire excellence in higher education endowment trust fund.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
05/07/2015 1477s
15-0474
03/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Fifteen
AN ACT relative to uninsured or hit-and-run motor vehicle coverage and relative to the New Hampshire excellence in higher education endowment trust fund.
Be it Enacted by the Senate and House of Representatives in General Court convened:
237:1 Uninsured or Hit-and-Run Motor Vehicle Coverage. Amend RSA 264:15, I to read as follows:
I. Except as provided in paragraph I-a, no policy shall be issued under the provisions of RSA 264:14, with respect to a vehicle registered or principally garaged in this state, unless coverage is provided therein or supplemental thereto at least in amounts [or] and limits prescribed for bodily injury or death for a liability policy under this chapter, for the protection of persons insured thereunder who are legally entitled to recover damages from owners or drivers of uninsured motor vehicles, and hit-and-run vehicles because of bodily injury, sickness, or disease, including death resulting therefrom. When an insured elects to purchase liability insurance in an amount greater than the minimum coverage required by RSA 259:61, the insured’s uninsured motorist coverage shall automatically be equal in amounts and limits to the liability coverage elected. For the purposes of this paragraph umbrella or excess policies that provide excess limits to policies described in RSA 259:61 shall also provide uninsured motorist coverage equal to the limits of liability purchased, unless the named insured rejects such coverage in writing. Rejection of such coverage by a named insured shall constitute a rejection of coverage by all insureds, shall apply to all vehicles then or thereafter eligible to be covered under the policy, and shall remain effective upon policy amendment or renewal, unless the named insured requests such coverage in writing.
I-a. No commercial motor vehicle liability policy issued under the provisions of RSA 264:14 shall be required to provide coverage for motor vehicles that are not owned by the policyholder for the protection of persons insured thereunder who are legally entitled to recover damages from owners or drivers of uninsured motor vehicles, and hit-and-run vehicles because of bodily injury, sickness, or disease, including death resulting therefrom.
237:2 New Hampshire Excellence in Higher Education Endowment Trust Fund. Amend RSA 6:38, I to read as follows:
I. There is hereby established in the office of the treasurer the New Hampshire excellence in higher education endowment trust fund which shall be kept distinct and separate from all other funds. Annual [administrative fees] assessments less any annual administrative costs received from the New Hampshire college tuition savings plan established under RSA 195-H shall be credited to the trust fund to provide scholarships for the benefit of residents of the state pursuing programs of study at eligible educational institutions within the state.
237:3 New Hampshire Excellence in Higher Education Endowment Trust Fund; Rulemaking. Amend RSA 6:40, VI to read as follows:
VI. Requiring disclosure regarding any [administrative fees] scholarship funds, or portion thereof, which are or may be returned to the trust fund.
237:4 New Hampshire Excellence in Higher Education Endowment Trust Fund; Scholarships. Amend RSA 6:41, II to read as follows:
II. All scholarships awarded by the commission under this subdivision shall be for the period of one academic year or equivalent and in specified amounts of not less than $100 per [academic] fiscal year within the limits established by the commission.
237:5 New Hampshire Excellence in Higher Education Endowment Trust Fund; Funds. Amend RSA?6:42 to read as follows:
6:42 Certification of Available Funds. By April 1 of each year, the commission shall determine the funding level available for scholarships for the next academic year and shall certify such amount to the state treasurer. [Funds available to provide scholarships shall be from the appreciated gains and earnings on the trust fund.]
237:6 Effective Date. This act shall take effect 60 days after its passage.
Approved: July 13, 2015
Effective Date: September 11, 2015