reglab/housing_qa huggingface dataset:
24-A ME Rev Stat § 3423 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS|Subchapter 3: PROVISIONS APPLYING TO STOCK AND MUTUAL INSURERS|24-A §3423. Impairment of capital funds

 §3423. Impairment of capital funds 1.  If a domestic stock insurer's paid-in capital stock, as represented by the aggregate par value of its outstanding capital stock, becomes impaired, or the assets of a domestic mutual insurer are less than its liabilities and the minimum amount of basic surplus required to be maintained by it under this Title for authority to transact the kinds of insurance being transacted, the superintendent shall at once determine the amount of deficiency and serve notice upon the insurer to cure the deficiency and file proof thereof with the insurer within the period specified in the notice, which period may not be less than 30 nor more than 90 days from the date of the notice. Such notice may be so served by delivery to the insurer, or by mailing to the insurer addressed to its registered office in this State.   [RR 2021, c. 1, Pt. B, §281 (COR).] 2.  The deficiency may be made good in cash or in assets eligible under chapter 13 (investments) for the investment of the insurer's funds or by amendment of the insurer's certificate of authority to cover only such kind or kinds of insurance thereafter for which the insurer has sufficient paid-in capital stock, if a stock insurer, or surplus, if a mutual insurer, under this Title; or, if a stock insurer, by reduction of the number of shares of the insurer's authorized capital stock or the par value of the capital stock through amendment of its certificate of organization or articles of incorporation, to an amount of authorized and unimpaired paid-in capital stock not below the minimum required for the kinds of insurance thereafter to be transacted.   [PL 2013, c. 299, §14 (AMD).] 3.  If the deficiency is not made good and proof thereof filed with the superintendent within the period required by the notice as specified in subsection 1, the insurer shall be deemed insolvent and the superintendent shall institute delinquency proceedings against it under chapter 57.   [PL 1973, c. 585, §12 (AMD).] SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). PL 2013, c. 299, §14 (AMD). RR 2021, c. 1, Pt. B, §281 (COR).
24-A ME Rev Stat § 3424 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS|Subchapter 3: PROVISIONS APPLYING TO STOCK AND MUTUAL INSURERS|24-A §3424. Restrictions during impairment; penalty

 §3424. Restrictions during impairment; penalty 1.  During the existence of impairment of the capital stock or surplus of an insurer, as referred to in section 3423, the superintendent shall require such restriction of, or arrangements as to, operations of the insurer while the impairment exists as the superintendent considers advisable for protection of policyholders, the insurer or the public.   [RR 2021, c. 1, Pt. B, §282 (COR).] 2.  Any officer, director, representative or employee of the insurer who knowingly violates or fails to comply with any such restriction or requirement shall upon conviction thereof be subject to fine of not less than $500 or more than $5,000, or imprisonment for less than one year or to both such fine and imprisonment.   [PL 1969, c. 132, §1 (NEW).] SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). RR 2021, c. 1, Pt. B, §282 (COR).
24-A ME Rev Stat § 3471 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS|Subchapter 4: CONVERSION, AMALGAMATION, DISSOLUTION|24-A §3471. Scope of subchapter

 §3471. Scope of subchapter This subchapter applies as to domestic stock and mutual insurers whether heretofore or hereafter formed, including insurers chartered under special legislative Acts, notwithstanding any inconsistent provisions in the charters of the insurers.   [PL 1985, c. 399, §2 (RPR).]SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1985, c. 399, §2 (RPR).
24-A ME Rev Stat § 3475 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS|Subchapter 4: CONVERSION, AMALGAMATION, DISSOLUTION|24-A §3475. Exchange of securities between insurers

 §3475. Exchange of securities between insurers 1.  Upon application of any domestic insurer, the superintendent is authorized to approve the fairness of the terms and conditions of the issuance by the insurer of any shares of its capital stock or of guaranty capital or bonds or its other securities or obligations in exchange for one or more bona fide outstanding securities, claims or property interest of any other insurer or corporation, domestic or foreign, or partly in such exchange and partly for cash; but only after a hearing has been held by the superintendent upon the fairness of such terms and conditions at which all persons to whom it is proposed to issue securities in such exchange shall have the right to appear and be heard.   [PL 1973, c. 585, §12 (AMD).] 2.  Notice of such hearing and conduct thereof shall be as provided in chapter 3 (the insurance superintendent).   [PL 1973, c. 585, §12 (AMD).] SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD).
24-A ME Rev Stat § 3478 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS|Subchapter 4: CONVERSION, AMALGAMATION, DISSOLUTION|24-A §3478. Merger, consolidation of mutual insurers authorized

 §3478. Merger, consolidation of mutual insurers authorized 1.  Any one or more mutual insurers existing under any of the laws of this State, may absorb by merger or consolidation, or be merged into or consolidate with, any one or more domestic or foreign mutual insurers either authorized to transact insurance in this State or qualified for such authority. The procedure for effectuation of such merger or consolidation shall be as set forth in sections 3479 to 3482.   [PL 1969, c. 132, §1 (NEW).] 2.  Nothing in this section shall authorize the merger or consolidation of a mutual insurer with a stock insurer.   [PL 1969, c. 132, §1 (NEW).] SECTION HISTORY PL 1969, c. 132, §1 (NEW).
24-A ME Rev Stat § 3479 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS|Subchapter 4: CONVERSION, AMALGAMATION, DISSOLUTION|24-A §3479. -- plan, agreement of merger, consolidation; approval by corporations

 §3479. -- plan, agreement of merger, consolidation; approval by corporations 1.  The plan and agreement for a merger or consolidation referred to in section 3478 shall be in writing signed by the duly authorized officers and under the corporate seals of the respective insurers; and shall be acknowledged to be the act, deed and agreement of the insurer by one of the executing officers of the respective insurers before an officer authorized by law to take acknowledgments of deeds. The plan and agreement shall be approved and authorized by vote of the majority of the directors of the respective insurers, and approved by vote of at least 2/3 of such policyholders of the respective insurers who are entitled to vote and do vote thereon in person or by proxy at a special meeting of such members call for the purpose.   [PL 1969, c. 132, §1 (NEW).] 2.  Notice of such special meeting of members shall be given by publishing the same once weekly for 3 consecutive weeks in a newspaper circulated in each county of this State, the last such publication to be at least 7 days prior to such meeting. Notice to its members by a foreign insurer shall be in accordance with the laws of its domiciliary jurisdiction.   [PL 1969, c. 132, §1 (NEW).] 3.  All of the members of the insurer shall be bound by the vote of policyholders as above provided for, and shall not have thereafter any right as to dissent or appraisal.   [PL 1969, c. 132, §1 (NEW).] SECTION HISTORY PL 1969, c. 132, §1 (NEW).
24-A ME Rev Stat § 3480 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS|Subchapter 4: CONVERSION, AMALGAMATION, DISSOLUTION|24-A §3480. -- approval by superintendent

 §3480. -- approval by superintendent 1.  The plan and agreement referred to in section 3479 shall not be effectuated until filed with and approved by the superintendent in writing. The insurers shall furnish the superintendent such additional information in relation to the proposed merger or consolidation as the superintendent may reasonably require.   [PL 1973, c. 585, §12 (AMD).] 2.  The superintendent shall approve the plan and agreement unless the superintendent finds that it:   A. Is contrary to law; or   [PL 1969, c. 132, §1 (NEW).]B. Is inequitable to the policyholders of any domestic insurer involved;   [RR 2021, c. 1, Pt. B, §288 (COR).]C. Would substantially reduce the security of and service to be rendered to policyholders of the domestic insurer;   [RR 2021, c. 1, Pt. B, §288 (COR).]D. Would materially tend to lessen competition in the insurance business in this State or elsewhere as to the kinds of insurance involved, or would materially tend to create a monopoly as to such business; or   [PL 1969, c. 132, §1 (NEW).]E. Is subject to other material and reasonable objections.   [PL 1969, c. 132, §1 (NEW).][RR 2021, c. 1, Pt. B, §288 (COR).] 3.  If the superintendent does not approve the plan and agreement the superintendent shall so notify the insurers parties thereto in writing, specifying the superintendent's reasons therefor.   [RR 2021, c. 1, Pt. B, §289 (COR).] SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). RR 2021, c. 1, Pt. B, §§288, 289 (COR).
24-A ME Rev Stat § 3481 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS|Subchapter 4: CONVERSION, AMALGAMATION, DISSOLUTION|24-A §3481. -- review by Attorney General; filing with Secretary of State

 §3481. -- review by Attorney General; filing with Secretary of State 1.  Upon approval by the superintendent as provided in section 3480, the plan and agreement of merger or consolidation must be submitted to the Attorney General and be examined by the Attorney General. If the Attorney General finds the plan and agreement to be properly drawn and signed and otherwise in conformity with the Constitution and laws of this State, the Attorney General shall so certify thereon in writing.   [RR 2021, c. 1, Pt. B, §290 (COR).] 2.  Within 60 days from date of approval by the superintendent, both an original and a copy of the plan and agreement showing thereon the certificate of the Attorney General, shall be delivered to the office of the Secretary of State. The Secretary of State shall file such copy and enter the date of filing on both the copy and the original, shall record the copy and return the original to the surviving merged or consolidated corporation.   [PL 1973, c. 585, §12 (AMD).] 3.  From time of filing the copy of the plan and agreement in the office of the Secretary of State, the agreement shall be deemed to be the agreement and act of merger or consolidation of the insurers, and the original of such agreement or a certified copy thereof shall be evidence of the existence of such merged or consolidated corporation and of the performance of all acts and conditions necessary for the effectuation of such merger or consolidation.   [PL 1969, c. 132, §1 (NEW).] 4.  If a domestic insurer is merged into or consolidated with a foreign insurer, the foreign insurer shall not transact insurance in this State until it has procured a certificate of authority from the superintendent therefor under this Title.   [PL 1973, c. 585, §12 (AMD).] SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). RR 2021, c. 1, Pt. B, §290 (COR).
24-A ME Rev Stat § 3482 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS|Subchapter 4: CONVERSION, AMALGAMATION, DISSOLUTION|24-A §3482. -- effective date of merger, consolidation; effect as to assets, liabilities, rights and power

 §3482. -- effective date of merger, consolidation; effect as to assets, liabilities, rights and power 1.  When the plan and agreement for merger or consolidation has been so signed, acknowledged, approved, authorized, certified, filed and recorded as provided in sections 3478 to 3481, then the separate existence of all of the constituent corporations other than the surviving corporation into which the other corporation or corporations parties have merged or consolidated shall cease.   [PL 1969, c. 132, §1 (NEW).] 2.  The surviving corporation shall be the merged or consolidated corporation by the name provided for in the agreement; and shall thereby possess all the rights, privileges, powers, franchises and immunities as well of a public as of a private nature, and shall thereby be subject to all the liabilities, restrictions and duties, of each of the merged or consolidated corporations, and have all and singular the rights, privileges, powers, franchises and immunities of each of such corporations, together with all property, real, personal and mixed, wheresoever located, and all debts due to any of such constituent corporations on whatever account; and all other things in action of each of such corporations, are by virtue of such merger or consolidation automatically vested in such surviving corporation.   [PL 1969, c. 132, §1 (NEW).] 3.  All such property, rights, privileges, powers, franchises and immunities and all and every other such interest shall be thereafter as effectually the property of the surviving corporation as they were of the respective constituent corporations; and title to any real estate, whether by deed or otherwise, under the laws of this State, vested in any of such constituent corporations shall not revert or be in any way impaired by reason of such merger or consolidation. All rights of creditors and all liens upon the property of any of such constituent corporations shall be preserved unimpaired, limited to the property affected by such liens at the time of the merger or consolidation; and all debts, liabilities and duties of the respective constituent corporations shall thenceforth attach to the surviving corporation and may be enforced against it to the same extent as if such debts, liabilities and duties had been incurred or contracted by it.   [PL 1969, c. 132, §1 (NEW).] SECTION HISTORY PL 1969, c. 132, §1 (NEW).
24-A ME Rev Stat § 3485 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS|Subchapter 4: CONVERSION, AMALGAMATION, DISSOLUTION|24-A §3485. Mutual member's share of assets on liquidation

 §3485. Mutual member's share of assets on liquidation 1.  Upon any liquidation of a domestic mutual insurer, its assets remaining after discharge of its indebtedness, policy obligations, repayment of contributed or borrowed surplus, if any, retirement of guaranty fund capital shares and payment of expenses of administration and of the dissolution and liquidation procedure, must be distributed to currently existing persons who had been members of the insurer for at least a year and who were its members at any time within 36 months next preceding the date such liquidation was authorized or ordered, or date of last termination of the insurer's certificate of authority, whichever date is the earlier; except, that if the superintendent has reason to believe that those in charge of the insurer's management have caused or encouraged the reduction of the number of members of the insurer, or changed the identity thereof, in anticipation of liquidation and for the purpose of reducing or controlling thereby the number or identity of persons who may be entitled to share in distribution of the insurer's assets, the superintendent may enlarge the qualification period in such manner as the superintendent considers to be reasonable.   [RR 2021, c. 1, Pt. B, §295 (COR).] 2.  The insurer shall make a reasonable classification of its policies so held by such members, and a formula based upon such classification for determination of the equitable distributive share of each such member. Such classification and formula shall be subject to the approval of the superintendent, who shall approve the same except for reasonable cause.   [PL 1973, c. 585, §12 (AMD).] SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). RR 2021, c. 1, Pt. B, §295 (COR).
24-A ME Rev Stat § 3490 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS|Subchapter 4: CONVERSION, AMALGAMATION, DISSOLUTION|24-A §3490. Conversion of mutual holding company

 §3490. Conversion of mutual holding company 1.  Approval of reorganization plan.  A mutual holding company may be reorganized in accordance with a plan of reorganization:   A. Approved by the superintendent, if the superintendent finds the plan to be fair and equitable, after a hearing of which notice has been given to the company's members pursuant to section 230; and   [PL 1999, c. 656, §5 (NEW).]B. Approved by vote of not less than 2/3 of the company's members voting on the plan in person, by proxy or by mail at a meeting of members called by the company for that purpose. The mutual holding company shall provide reasonable notice to its members and determine the procedure for the meeting, subject to approval by the superintendent. The plan must specify that only persons who were members both at least one year before the submission of the plan and on a subsequent date before the vote found reasonable by the superintendent are entitled to vote. Each member is entitled to one vote.   [PL 1999, c. 656, §5 (NEW).][PL 1999, c. 656, §5 (NEW).] 2.  Membership interests disposition.  A plan of reorganization pursuant to subsection 1 must provide for extinguishment of the membership interests in the mutual holding company and may provide for either:   A. The conversion of the mutual holding company into a stock corporation, in which event the consideration, if any, distributed to members of the mutual holding company must be equal to that required under section 3477; or   [PL 1999, c. 656, §5 (NEW).]B. The distribution to eligible members of the mutual holding company of consideration consisting of all assets of the mutual holding company, including all stock of the reorganized insurer or any stock holding company owned by the mutual holding company, or other consideration having equivalent aggregate value. The form of the other consideration may be cash, securities, additional insurance or annuity benefits or policy credits, increased dividends or other consideration. All such consideration must be allocated among eligible members of the mutual holding company in a manner that is fair and equitable to the company's members.   [PL 1999, c. 656, §5 (NEW).][PL 1999, c. 656, §5 (NEW).] SECTION HISTORY PL 1999, c. 656, §5 (NEW).
24-A ME Rev Stat § 4301 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 56-A: HEALTH PLAN IMPROVEMENT ACT|Subchapter 1: HEALTH PLAN REQUIREMENTS|24-A §4301. Definitions (REPEALED)

 §4301. Definitions (REPEALED)SECTION HISTORY PL 1995, c. 673, §C1 (NEW). PL 1995, c. 673, §C2 (AFF). PL 1997, c. 604, §A1 (AMD). PL 1999, c. 256, §A1 (AMD). PL 1999, c. 609, §19 (AMD). PL 1999, c. 742, §2 (RP). PL 2001, c. 471, §A28 (RP).
24-A ME Rev Stat § 4303-B (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 56-A: HEALTH PLAN IMPROVEMENT ACT|Subchapter 1: HEALTH PLAN REQUIREMENTS|24-A §4303-B. Disclosure related to provider networks

 §4303-B. Disclosure related to provider networks 1.  Disclosure.  Upon request, a carrier shall provide to a provider to which the carrier has decided not to offer the opportunity to participate or that the carrier has decided not to include as a participating provider in any of the carrier's provider networks a written explanation of the reason for the carrier's decision. The written explanation provided by the carrier must indicate whether the reason for not offering the provider the opportunity to contract or for not including the provider in any network was related to the provider's performance with respect to quality, cost or cost-efficiency.   [PL 2013, c. 535, §2 (NEW).] 2.  No right of action.  A provider has no right of action as the result of a disclosure made in accordance with this section.   [PL 2013, c. 535, §2 (NEW).] SECTION HISTORY PL 2013, c. 535, §2 (NEW).