Formal Proceedings

Section 402-C:39

    402-C:39 Special Claims. –
I. Claims Contingent on Judgments. The claim of a third party which is contingent only on his first obtaining a judgment against the insured shall be considered and allowed as if there were no such contingency.
II. Claims Under Terminated Policies. Any claim that would have become absolute if there had been no termination of coverage under RSA 402-C:22, and which was not covered by insurance acquired to replace the terminated coverage, shall be allowed as if the coverage had remained in effect, unless at least 10 days before the insured event occurred either the claimant had actual notice of the termination or notice was mailed to the claimant as prescribed by RSA 402-C:26 or RSA 402-C:27, I. If allowed the claim shall share in distributions under RSA 402-C:44, II.
III. Other Contingent Claims. A claim may be allowed even if contingent, if it is filed in accordance with RSA 402-C:37, II. It may be allowed and may participate in all dividends declared after it is filed, to the extent that it does not prejudice the orderly administration of the liquidation.
IV. Immature Claims. Claims that are due except for the passage of time shall be treated as absolute claims are treated, except that where justice requires the court may order them discounted at the legal rate of interest.

Source. 1969, 272:1. 1998, 99:4, eff. July 19, 1998.