reglab/housing_qa huggingface dataset:
24-A ME Rev Stat § 3623 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 51: DOMESTIC MUTUAL ASSESSMENT INSURERS|24-A §3623. Limit of risk

 §3623. Limit of risk 1.  Except as provided in section 3607, subsection 1, an insurer shall not retain liability as to any one risk in an amount exceeding 10% of its surplus and in addition 8% of the amount at any time due on its premium notes.   [PL 1975, c. 124 (AMD).] 2.  Valid reinsurance ceded by the insurer and then in force shall be deducted from the gross risk assumed in determining net risk retained.   [PL 1969, c. 132, §1 (NEW).] SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1975, c. 124 (AMD).
24-A ME Rev Stat § 3624 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 51: DOMESTIC MUTUAL ASSESSMENT INSURERS|24-A §3624. Unearned premium reserve

 §3624. Unearned premium reserve An insurer which collects a cash premium or advance assessment shall maintain an unearned premium reserve equal to 50% of the cash premium or advance assessment on its policies in force.   [PL 1969, c. 132, §1 (NEW).]SECTION HISTORY PL 1969, c. 132, §1 (NEW).
24-A ME Rev Stat § 3625 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 51: DOMESTIC MUTUAL ASSESSMENT INSURERS|24-A §3625. Directors' residence, compensation

 §3625. Directors' residence, compensation 1.  A majority of the board of directors of the insurer shall be residents of, and actually reside in, this State.   [PL 1969, c. 132, §1 (NEW).] 2.  The salary or compensation for services of the directors of the insurer shall be fixed by the policyholders at their annual meeting.   [PL 1969, c. 132, §1 (NEW).] SECTION HISTORY PL 1969, c. 132, §1 (NEW).
24-A ME Rev Stat § 3626 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 51: DOMESTIC MUTUAL ASSESSMENT INSURERS|24-A §3626. Annual statement by directors

 §3626. Annual statement by directors The directors of every insurer shall cause a detailed account of its expenses for the year preceding, the amount of property actually insured at that time, the amount due on its premium notes and the amount of all debts due to and from the insurer to be laid before the policyholders at the annual meeting.   [PL 1969, c. 132, §1 (NEW).]SECTION HISTORY PL 1969, c. 132, §1 (NEW).
24-A ME Rev Stat § 3627 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 51: DOMESTIC MUTUAL ASSESSMENT INSURERS|24-A §3627. Agents; liability

 §3627. Agents; liability Any person who solicits insurance on behalf of any insurer or transmits for a person other than the person soliciting the insurance an application for, or a policy of, insurance to or from such insurer, or in any manner acts in the negotiation of such insurance, or in the inspection or valuation of the property insured must be deemed the agent of the insurer, and except as otherwise provided, is liable to all the duties, requirements, liabilities and penalties to which an agent of any insurer is subject.   [RR 2021, c. 1, Pt. B, §311 (COR).]SECTION HISTORY PL 1969, c. 132, §1 (NEW). RR 2021, c. 1, Pt. B, §311 (COR).
24-A ME Rev Stat § 3628 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 51: DOMESTIC MUTUAL ASSESSMENT INSURERS|24-A §3628. Agents -- licensing

 §3628. Agents -- licensing All agents of insurers subject to this chapter are subject to the applicable requirements of chapter 16, except that:   [PL 1997, c. 457, §45 (AMD); PL 1997, c. 457, §55 (AFF).]1.  No personal examination shall be required of the applicant and no examination fee shall be charged, as to an applicant for a license as an agent of an insurer writing insurance solely on the assessment plan, if on January 1, 1970 the applicant was also a director or officer of such insurer;   [PL 1973, c. 625, §151 (AMD).] 2.  No fee shall be required by the superintendent for license as resident agent issued to any individual referred to in subsection 1, as agent of such an insurer.   [PL 1973, c. 585, §12 (AMD).] SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). PL 1973, c. 625, §151 (AMD). PL 1997, c. 457, §45 (AMD). PL 1997, c. 457, §55 (AFF).
24-A ME Rev Stat § 3701 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY|24-A §3701. Purpose

 §3701. Purpose The Maine Employers' Mutual Insurance Company is established for the purposes of providing workers' compensation insurance and employers' liability insurance incidental to and written in connection with workers' compensation coverage to employers of this State at the highest level of service and savings consistent with reasonable applicable actuarial standards and the sound financial integrity of the company. It is also the purpose of the company to encourage employer involvement and to be responsive to employer experience and advice.   [PL 2001, c. 350, §1 (AMD).]SECTION HISTORY PL 1991, c. 615, §D1 (NEW). PL 1991, c. 885, §C1 (AMD). PL 1997, c. 661, §1 (AMD). PL 2001, c. 350, §1 (AMD).
24-A ME Rev Stat § 3702 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY|24-A §3702. Definitions

 §3702. Definitions As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.   [PL 1991, c. 615, Pt. D, §1 (NEW).]1.  Board.  "Board" means the Board of Directors of the Maine Employers' Mutual Insurance Company.   [PL 1991, c. 615, Pt. D, §1 (NEW).] 2.  Company.  "Company" means the Maine Employers' Mutual Insurance Company created in section 3703.   [PL 1991, c. 615, Pt. D, §1 (NEW).] 3.  Division.   [PL 2001, c. 350, §2 (RP).] 3-A.  Maine-based employer.  "Maine-based employer" means an employer with a principal place of business located in this State.   [PL 1995, c. 551, §3 (NEW).] 4.  Superintendent.  "Superintendent" means the Superintendent of Insurance.   [PL 1991, c. 885, Pt. C, §2 (NEW).] 5.  Voluntary market.  "Voluntary market" means the workers' compensation insurance market in which insurance companies voluntarily offer coverage to applicants who meet the insurers' underwriting standards or guidelines.   [PL 1991, c. 885, Pt. C, §2 (NEW).] 6.  Workers' compensation residual market mechanism.  "Workers' compensation residual market mechanism" means the instrument to provide coverage to employers not able to obtain coverage in the voluntary market that immediately preceded the Maine Employers' Mutual Insurance Company.   [PL 2001, c. 350, §3 (AMD).] SECTION HISTORY PL 1991, c. 615, §D1 (NEW). PL 1991, c. 885, §C2 (AMD). PL 1995, c. 551, §3 (AMD). PL 1997, c. 661, §2 (AMD). PL 2001, c. 350, §§2,3 (AMD).
24-A ME Rev Stat § 3704 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY|24-A §3704. Prerequisites to operations (REPEALED)

 §3704. Prerequisites to operations (REPEALED)SECTION HISTORY PL 1991, c. 615, §D1 (NEW). PL 1991, c. 885, §C4 (RP).
24-A ME Rev Stat § 3704-A (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY|24-A §3704-A. Initial funding and operation (REPEALED)

 §3704-A. Initial funding and operation (REPEALED)SECTION HISTORY PL 1991, c. 885, §C5 (NEW). PL 1997, c. 661, §7 (RP).
24-A ME Rev Stat § 3705 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY|24-A §3705. Nonstate agency

 §3705. Nonstate agency The company is not considered a state agency or instrumentality of the State for any purpose. The company is not and may never be supported in any way by the State's General Fund or any guaranty by the State, any state agency or a division of the State. The State may not borrow or otherwise appropriate funds from the company.   [PL 1991, c. 885, Pt. C, §6 (AMD).]SECTION HISTORY PL 1991, c. 615, §D1 (NEW). PL 1991, c. 885, §C6 (AMD).
24-A ME Rev Stat § 3706 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY|24-A §3706. Reports and information

 §3706. Reports and information 1.  Annual report.  In addition to any other reports required by this Title, the board shall submit an annual report to the Governor and the joint standing committee of the Legislature having jurisdiction over insurance matters indicating the business done by the company during the previous year and containing a statement of the resources and liabilities of the fund and any other information considered appropriate by the board. The report must contain, at a minimum, a summary of the latest annual statement required to be filed with the superintendent prepared in accordance with statutory accounting principles.   [PL 1991, c. 885, Pt. C, §7 (AMD).] 2.  Statistical and actuarial data.  The company shall compile and maintain statistical and actuarial data related to the determination of proper premium rate levels, the incidence of work-related injuries, costs related to those injuries and any other data that the company considers desirable. The company shall provide this data to the Superintendent of Insurance, the Executive Director of the Workers' Compensation Board and the Department of Labor annually and upon request.   [PL 2003, c. 608, §3 (AMD).] SECTION HISTORY PL 1991, c. 615, §D1 (NEW). PL 1991, c. 885, §C7 (AMD). PL 1991, c. 885, §D2 (AMD). PL 2003, c. 608, §3 (AMD).
24-A ME Rev Stat § 3707 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY|24-A §3707. Powers of the board

 §3707. Powers of the board The board has full power, authority and jurisdiction over the company.   [PL 1991, c. 885, Pt. C, §8 (NEW).]1.  General authority.  The board may perform all acts necessary or convenient in the exercise of any power, authority or jurisdiction over the company, either in the administration of the company or in connection with the business of the company to fulfill the purposes of this chapter.   [PL 1997, c. 661, §8 (AMD).] 2.  Standard of performance.  The board shall discharge its duties with the care, skill, prudence, and diligence as that of prudent directors acting in a similar enterprise and purpose.   [PL 1991, c. 885, Pt. C, §8 (NEW).] 3.  Personal liability.  The members of the board and officers or employees of the company are not liable personally, either jointly severally, for any debt or obligation created or incurred by the company.   [PL 1991, c. 885, Pt. C, §8 (NEW).] 4.  President.  The board shall appoint a president who shall serve as chief executive officer and may appoint other executive officers as it determines necessary.   [PL 1991, c. 885, Pt. C, §8 (NEW).] 5.  Investment managers.  The board shall appoint investment managers to oversee and manage the investment of assets of the corporation in a manner that safeguards the value of those assets and maximizes investment return commensurate with risk and liquidity restrictions contained in chapter 13.   A. An investment manager appointed by the board is subject to standards applicable to fiduciaries responsible for safeguarding assets of such a corporation. The investment manager must be appointed pursuant to a contract in writing that clearly establishes the fiduciary nature of the relationship of the fiduciary to the company.   [PL 1991, c. 885, Pt. C, §8 (NEW).]B. The board shall set investment policy for the investment managers of the company through an investment committee composed of not less than 3 members nor more than 5 members of the board. Transactions in the sale or purchase of securities by an investment manager may be in a nominee name as designated by the board. Authority to acquire or sell securities for the company must be conveyed to the investment manager in writing by the investment committee.   [PL 1991, c. 885, Pt. C, §8 (NEW).]C. In any agreement empowering the investment managers to act for or on behalf of the company, there must be provisions for periodic reporting by the managers respecting investments held in the name of the company, the yield received on such investments and any principal cash balances held by depositories or the investment managers.   [PL 1991, c. 885, Pt. C, §8 (NEW).]D. Securities and property of the corporation must be held in a manner consistent with the requirements for mutual insurance companies set forth in this Title.   [PL 1991, c. 885, Pt. C, §8 (NEW).][PL 1991, c. 885, Pt. C, §8 (NEW).] SECTION HISTORY PL 1991, c. 885, §C8 (NEW). PL 1997, c. 661, §8 (AMD).
24-A ME Rev Stat § 3708 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY|24-A §3708. General powers

 §3708. General powers 1.  Powers.  For the specific purpose of exercising the responsibilities granted in this chapter and effectuating the purposes of this chapter, the company has the powers otherwise granted to a casualty insurer and may:   A. Hire employees or enter into contracts relating to the administration of a workers' compensation insurer;   [PL 1991, c. 885, Pt. C, §8 (NEW).]B. Declare a dividend when there is an excess of assets over liabilities and surplus requirements established in this Title; and   [PL 1991, c. 885, Pt. C, §8 (NEW).]C. Enter into agreements to reinsure all or part of the company's exposure to loss and to otherwise limit the risk to the company and manage its financial condition.   [PL 1991, c. 885, Pt. C, §8 (NEW).][PL 1991, c. 885, Pt. C, §8 (NEW).] 2.  Assessments; plan of operation.  The board shall:   A. Assess policyholders to cover its expenses, claims, obligations and other funding needs consistent with this chapter and Title; and   [PL 1991, c. 885, Pt. C, §8 (NEW).]B. Develop and file with the superintendent for review and approval a plan of operation and any amendments to a plan of operation necessary or suitable to ensure the fair, reasonable and equitable administration of the company.   [PL 1991, c. 885, Pt. C, §8 (NEW).][PL 1991, c. 885, Pt. C, §8 (NEW).] SECTION HISTORY PL 1991, c. 885, §C8 (NEW).
24-A ME Rev Stat § 3709 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY|24-A §3709. President and chief executive officer

 §3709. President and chief executive officer 1.  Appointment.  The board shall appoint a president who shall serve as chief executive officer and who is responsible for the operation of the company. The president must be qualified by education and experience to manage an organization with financial and operational obligations to its policyholders and claimants.   [PL 1991, c. 885, Pt. C, §8 (NEW).] 2.  Term.  The president serves at the will of the board.   [PL 1991, c. 885, Pt. C, §8 (NEW).] 3.  Compensation.  The president is entitled to compensation as established by the board and is subject to any reasonable requirements, including bonding, established by the board.   [PL 1991, c. 885, Pt. C, §8 (NEW).] 4.  Board member.  The president is a member of the board, but may not be the chair of the board.   [PL 1991, c. 885, Pt. C, §8 (NEW).] 5.  Duties.  The board, as part of its plan of operation, shall designate the powers and duties of the president. The president may, with direction from the board, assist in the development of the plan of operation and other start-up functions.   [PL 1991, c. 885, Pt. C, §8 (NEW).] SECTION HISTORY PL 1991, c. 885, §C8 (NEW).
24-A ME Rev Stat § 3710 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY|24-A §3710. Funding; surplus

 §3710. Funding; surplus 1.  Initial funding.   [PL 1997, c. 661, §9 (RP).] 2.  Ongoing funding.  The company:   A.   [PL 2001, c. 350, §4 (RP).]B. May assess its policyholders for additional funds to meet operating needs or as required by law; and   [PL 1995, c. 551, §5 (AMD).]C. May provide premium payment plans and premium financing programs.   [PL 2001, c. 350, §4 (AMD).][PL 2001, c. 350, §4 (AMD).] 3.  Transition surplus, premium levels.   [PL 2001, c. 350, §4 (RP).] SECTION HISTORY PL 1991, c. 885, §C8 (NEW). PL 1995, c. 551, §§5,6 (AMD). PL 1997, c. 661, §9 (AMD). PL 2001, c. 350, §4 (AMD).
24-A ME Rev Stat § 3711 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY|24-A §3711. Operation of the company

 §3711. Operation of the company 1.  Coverage availability.  On or after January 1, 1993, the company shall provide workers' compensation and incidental employers' liability coverage to employers otherwise entitled to coverage, but not able to or not electing to purchase coverage in the voluntary insurance market, and not authorized, either individually or as part of a group, to self-insure. An authorized self-insured is eligible for coverage upon termination of self-insurance.   [PL 1991, c. 885, Pt. C, §8 (NEW).] 2.  Federal coverage.  The board shall authorize the availability of federal workers' compensation coverage under the Longshore and Harbor Workers' Compensation Act, 33 United States Code, Section 901, et seq., the Defense Base Act, 42 United States Code, Section 1651, et seq., the Federal Employers Liability Act, 45 United States Code, Section 51, et seq., and any federal maritime or admiralty coverage. The board is authorized to make available Outer Continental Shelf Lands Act, 43 United States Code, Section 1331, et seq., coverage, Nonappropriated Fund Instrumentalities Employees' Retirement Credit Act of 1986, 5 United States Code, Section 8171, et seq., coverage, and any other coverages by special endorsements that may be required of an insured by contract or other needs.   [PL 1991, c. 885, Pt. C, §8 (NEW).] 3.  Coverage denial.  The company shall deny coverage to any employer who owes undisputed premiums to a previous workers' compensation carrier or to the workers' compensation residual market mechanism, or fails to comply with reasonable safety requirements the company is legally authorized to establish.   [PL 1991, c. 885, Pt. C, §8 (NEW).] SECTION HISTORY PL 1991, c. 885, §C8 (NEW).
24-A ME Rev Stat § 3712 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY|24-A §3712. Divisions (REPEALED)

 §3712. Divisions (REPEALED)SECTION HISTORY PL 1991, c. 885, §C8 (NEW). RR 1993, c. 1, §65 (COR). PL 1995, c. 560, §G9 (AMD). PL 1997, c. 661, §10 (RP).
24-A ME Rev Stat § 3712-A (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY|24-A §3712-A. Divisions (REPEALED)

 §3712-A. Divisions (REPEALED)SECTION HISTORY PL 1997, c. 661, §11 (NEW). PL 2001, c. 350, §5 (RP).
24-A ME Rev Stat § 3713 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY|24-A §3713. Authority to contract with licensed producers

 §3713. Authority to contract with licensed producers The company may contract with licensed producers to submit applications and otherwise assist applicants and insureds.   [PL 1997, c. 661, §12 (AMD).]SECTION HISTORY PL 1991, c. 885, §C8 (NEW). PL 1997, c. 661, §12 (AMD).
24-A ME Rev Stat § 3714 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY|24-A §3714. Accounting; assessments

 §3714. Accounting; assessments The following provisions apply to the financial operation of the company.   [PL 2001, c. 350, §6 (AMD).]1.  Separate accounting.   [PL 2001, c. 350, §7 (RP).] 2.  Rates.  Rates developed and filed by the company must be in accordance with chapter 25, subchapter II‑B.   Rates filed within the rate-band are considered voluntary for purposes of chapter 25, subchapter II‑B. If a rate is filed outside the rate band, the superintendent may disapprove the rate if it is excessive, inadequate or unfairly discriminatory, using the standards set forth in section 2382.   "Rate band" means the range of rates from 85% to 145% of the benchmark rate. For the purposes of this subsection, "benchmark rate" is the pure premium rate filing filed by the State's advisory organization as defined in section 2381-C and currently approved by the superintendent.   [PL 1997, c. 661, §13 (AMD).] 3.  Deficit.   [PL 2001, c. 350, §8 (RP).] 4.  Surplus.  The surplus of the company is indivisible and is available for the benefit of all policyholders once certified by the superintendent.   [PL 1991, c. 885, Pt. C, §8 (NEW).] 5.  Assessment.  Any assessment levied against policyholders is for the exclusive benefit of the policyholders subject to the assessment. Any policyholder not paying an undisputed assessment is not eligible for coverage from the company or in the voluntary market.   [PL 1997, c. 661, §13 (AMD).] 6.  Deficits in the high-risk division.   [PL 2001, c. 350, §9 (RP).] 7.  High-risk program.   [PL 2017, c. 15, §1 (RP).] 8.  Filing of retrospective rating plans.  The board may file with the superintendent retrospective rating plans that, after hearing, may be imposed on an employer with a demonstrated record of repeated serious violations of workplace health and safety rules and regulations such as those adopted under Title 26, chapter 6 or 29 United States Code, Chapter 15, whichever is applicable.   [PL 2017, c. 15, §2 (NEW).] 9.  Availability of retrospective rating plans.  The board shall develop and file with the superintendent and, if not disapproved by the superintendent, make available to policyholders on a voluntary basis retrospective rating plans.   [PL 2017, c. 15, §2 (NEW).] SECTION HISTORY PL 1991, c. 885, §C8 (NEW). RR 1993, c. 1, §66 (COR). PL 1997, c. 661, §13 (AMD). PL 2001, c. 350, §§6-10 (AMD). PL 2017, c. 15, §§1, 2 (AMD).
24-A ME Rev Stat § 3851 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 53: RECIPROCAL INSURERS|24-A §3851. "Reciprocal" insurance defined

 §3851. "Reciprocal" insurance defined "Reciprocal" insurance is that resulting from an interchange among persons, known as "subscribers," of reciprocal agreements of indemnity, the interchange being effectuated through an "attorney-in-fact" common to all such persons.   [PL 1969, c. 132, §1 (NEW).]SECTION HISTORY PL 1969, c. 132, §1 (NEW).
24-A ME Rev Stat § 3852 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 53: RECIPROCAL INSURERS|24-A §3852. Scope of chapter -- existing insurers

 §3852. Scope of chapter -- existing insurers 1.  All authorized reciprocal insurers shall be governed by those sections of this chapter not expressly made applicable to domestic reciprocals.   [PL 1969, c. 132, §1 (NEW).] 2.  Existing authorized reciprocal insurers shall after January 1, 1970 comply with this chapter, and shall make such amendments to their subscribers' agreement, power of attorney, policies and other documents and accounts and perform such other acts as may be required for such compliance.   [PL 1973, c. 625, §152 (AMD).] SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1973, c. 625, §152 (AMD).
24-A ME Rev Stat § 3853 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 53: RECIPROCAL INSURERS|24-A §3853. Insuring powers of reciprocals

 §3853. Insuring powers of reciprocals 1.  A reciprocal insurer may, upon qualifying therefore as provided for by this Title, transact any kind or kinds of insurance defined by this Title, other than life or title insurances.   [PL 1969, c. 132, §1 (NEW).] 2.  Such an insurer may purchase reinsurance upon the risk of any subscriber, and may grant reinsurance as to any kind of insurance it is authorized to transact direct.   [PL 1969, c. 132, §1 (NEW).] SECTION HISTORY PL 1969, c. 132, §1 (NEW).