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2012 Maine Revised Statutes
TITLE 24-A: MAINE INSURANCE CODE
Chapter 53: RECIPROCAL INSURERS
24-A §3874. Subscribers' share in assets


24-A ME Rev Stat § 3874 (2012 through 125th Legis) What's This?

§3874. Subscribers' share in assets

Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharge of its indebtedness and policy obligations, the return of any contributions of the attorney or other persons to its surplus, and the return of any unused premium, savings or credits then standing on subscribers' accounts, shall be distributed to its subscribers who were such within the 12 months prior to the last termination of its certificate of authority, according to such reasonable formula as the superintendent may approve. [1973, c. 585, §12 (AMD).]

SECTION HISTORY

1969, c. 132, §1 (NEW). 1973, c. 585, §12 (AMD).

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