New Hampshire § 402-C-34 - Section 402-C:34 Setoffs.
Full text of New Hampshire New Hampshire Revised Statutes Annotated § 402-C-34 — Section 402-C:34 Setoffs., with citation guidance and answers to common questions.
§ 402-C-34. Section 402-C:34 Setoffs.
I. Setoffs Allowed in General. Mutual debts or mutual credits between the insurer and another person in connection with any action or proceeding under this chapter shall be set off and the balance only shall be allowed or paid, except as provided in paragraph II. II. Exceptions. No setoff shall be allowed in favor of any person where: (a) The obligation of the insurer to the person would not at the date of the filing of a petition for liquidation entitle him to share as a claimant in the assets of the insurer; (b) The obligation of the insurer to the person was purchased by or transferred to the person with a view to its being used as a setoff; (c) The obligation of the person is to pay an assessment levied against the members or subscribers of the insurer, or is to pay a balance upon a subscription to the capital stock of the insurer, or is in any other way in the nature of a capital contribution; or (d) [Repealed.]
Source: official New Hampshire text · Last verified 2026-08-27
Frequently Asked Questions About New Hampshire § 402-C-34
What does New Hampshire Revised Statutes Annotated § 402-C-34 cover?
Section 402-C-34 ("Section 402-C:34 Setoffs.") is part of the New Hampshire Revised Statutes Annotated, the codified statutory law of New Hampshire. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Hampshire § 402-C-34?
A common citation format is "New Hampshire Revised Statutes Annotated § 402-C-34" (New Hampshire). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Hampshire law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Hampshire official source linked on this page or consult a licensed New Hampshire attorney.
How does New Hampshire § 402-C-34 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Hampshire can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Hampshire.