Section 400-A:12 Prohibited Interests.
The commissioner, deputies, assistants, actuaries, examiners, or employees of the department shall not be connected with the management or be holder of material number of shares of any insurer, insurance holding company, insurance agency or broker, or be pecuniarily interested in any insurance transaction except as a policyholder or claimant under a policy; except, that as to matters wherein a conflict of interests does not exist on the part of any such individual, the commissioner may employ and retain from time to time insurance actuaries, examiners, accountants, and other technicians who are independently practicing their professions even though from time to time similarly employed or retained by insurers or others. Provided, that nothing contained in this section shall be deemed to prohibit:
I. Receipt by any such individual of fully vested commissions or fully vested retirement benefits to which entitled by reason of services performed prior to becoming commissioner or prior to employment in the department;
II. Investment in shares of regulated diversified investment companies.
Source. 1971, 244:1, eff. Aug. 17, 1971.