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2011 Maine Revised Statutes
TITLE 24-A: MAINE INSURANCE CODE
Chapter 53: RECIPROCAL INSURERS
24-A §3862. Action on bond

Universal Citation:
24-A ME Rev Stat § 3862 (2011 through 125th Legis)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

§3862. Action on bond

Action on the attorney's bond or to recover against any such deposit made in lieu thereof may be brought at any time by one or more subscribers suffering loss through a violation of its conditions, or by a receiver or liquidator of the insurer. Amounts recovered on the bond shall be deposited in and become part of the insurer's funds. The total aggregate liability of the surety shall be limited to the amount of the penalty of such bond. [1969, c. 132, §1 (NEW).]

SECTION HISTORY

1969, c. 132, §1 (NEW).

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