§ 405-b-2

405-B:2 Definitions. – In this chapter: I. 'Commissioner' means the insurance commissioner. II. 'Home state' means, except as provided in subparagraph (b), with respect to an insured: (a) The state in which an insured maintains its principal place of business or, in the case of an individual, the individual's principal residence; or (b) If 100 percent of the insured risk is located out of the state referred to in subparagraph (a), the state to which the greatest percentage of the insured's taxable premium for that insurance contract is allocated. III. 'Multi-state risk' means a risk covered by a nonadmitted insurer with insured exposures in more than one state. Source. 2011, 191:5, eff. Aug. 13, 2011.