RSA 405:48 Nonlicensed or Accredited Insurer.

If the assuming insurer does not meet the requirements of RSA 405:47, I-III, the credit permitted by RSA 405:47, IV and IV-a shall not be allowed unless the assuming insurer agrees in the trust agreements to the following conditions:
I. Notwithstanding any other provisions in the trust instrument, if the trust fund is inadequate because it contains an amount less than the amount required by RSA 405:47, IV(c), or if the grantor of the trust has been declared insolvent or placed into receivership, rehabilitation, liquidation or similar proceedings under the laws of its state or country of domicile, the trustee shall comply with an order of the commissioner with regulatory oversight over the trust or with an order of a court of competent jurisdiction directing the trustee to tran