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2012 Maine Revised Statutes
TITLE 24-A: MAINE INSURANCE CODE
Chapter 51: DOMESTIC MUTUAL ASSESSMENT INSURERS
24-A §3609. New assessment plan insurers; conversion


24-A ME Rev Stat § 3609 (2012 through 125th Legis) What's This?

§3609. New assessment plan insurers; conversion

Mutual insurers hereafter organized to transact insurance on the assessment plan shall not be authorized to transact any kind of insurance other than property insurance, or to transact insurance of any kind on the cash premium plan, unless the insurer qualifies for such authority in accordance with the requirements of domestic mutual insurers hereafter organized under chapter 47 (organization, corporate powers, procedures of domestic legal reserve stock and mutual insurers), and by appropriate amendment to its certificate of organization converts to such a legal reserve insurer. [1969, c. 132, §1 (NEW).]

SECTION HISTORY

1969, c. 132, §1 (NEW).

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