There is a newer version
of
this Section
2020 Maine Revised Statutes
TITLE 24-A: MAINE INSURANCE CODE
Chapter 51: DOMESTIC MUTUAL ASSESSMENT INSURERS
24-A §3609. New assessment plan insurers; conversion
Universal Citation: 24-A ME Rev Stat § 3609 (2020)
§3609. New assessment plan insurers; conversion
Mutual insurers organized to transact insurance on the assessment plan are not 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 organized under chapter 47 (organization, corporate powers, procedures of domestic legal reserve stock and mutual insurers), and by appropriate amendment to its articles of incorporation converts to such a legal reserve insurer. [PL 2013, c. 299, §21 (AMD).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 2013, c. 299, §21 (AMD).
Disclaimer: These codes may not be the most recent version. Maine may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
