reglab/housing_qa huggingface dataset:
24-A ME Rev Stat § 474 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 5: AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS|Subchapter 2: INSURANCE EMERGENCIES|24-A §474. Payments deferred

 §474. Payments deferred During any insurance emergency period as described in sections 471 and 472, the superintendent has authority to postpone or defer, by rules or orders made and issued by the superintendent, for such time or times as the superintendent determines, the payment of any amount payable under the terms of any policy of insurance, annuity or pure endowment contract, and the payment of judgments, notes, drafts, checks, bills of exchange or other forms of payment of claims due from insurers to any person, firm or corporation, whether such claim is liquidated or unliquidated, due or to become due at a day certain, and defer the payment of premiums on policies affected by such postponements or suspensions and may direct payment in full or in part whenever in the superintendent's discretion such payment may be safely consummated.   [RR 2021, c. 1, Pt. B, §184 (COR).]SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). RR 2021, c. 1, Pt. B, §184 (COR).
24-A ME Rev Stat § 475 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 5: AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS|Subchapter 2: INSURANCE EMERGENCIES|24-A §475. "Insurer" defined

 §475. "Insurer" defined The words "insurer" or "insurers" as used in this subchapter shall include corporations, interinsurers, associations, societies and orders as well as partnerships and individual agents representing such organizations.   [PL 1969, c. 132, §1 (NEW).]SECTION HISTORY PL 1969, c. 132, §1 (NEW).
24-A ME Rev Stat § 476 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 5: AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS|Subchapter 2: INSURANCE EMERGENCIES|24-A §476. Personal responsibility of the superintendent limited

 §476. Personal responsibility of the superintendent limited The superintendent shall not be held legally responsible for any act or failure to act in the premises when such act or failure to act shall have been shown to be the result of good faith.   [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 § 477 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 5: AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS|Subchapter 2: INSURANCE EMERGENCIES|24-A §477. Duration at will of Governor

 §477. Duration at will of Governor The authority and power given the superintendent under this subchapter shall terminate and be of no effect when the Governor proclaims that any insurance emergency has ceased to exist.   [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 § 478 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 5: AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS|Subchapter 2: INSURANCE EMERGENCIES|24-A §478. Jurisdiction of courts

 §478. Jurisdiction of courts During any emergency insurance period as described in sections 471 and 472, the superintendent is authorized to issue such directions, rules or orders as in the superintendent's discretion the circumstances may warrant, and any Justice of the Supreme Judicial or Superior Courts has full jurisdiction to enforce this chapter by appropriate decrees.   [RR 2021, c. 1, Pt. B, §185 (COR).]SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). RR 2021, c. 1, Pt. B, §185 (COR).
24-A ME Rev Stat § 479 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 5: AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS|Subchapter 2: INSURANCE EMERGENCIES|24-A §479. Penalties

 §479. Penalties Any violation of any order issued by virtue of this subchapter or any rule or regulatory provision made by the superintendent pursuant thereto shall be punishable by a fine of not more than $1,000 or by imprisonment for less than one year, or by both.   [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 § 701 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 1: KINDS OF INSURANCE|24-A §701. Definitions not mutually exclusive

 §701. Definitions not mutually exclusive It is intended that certain insurance coverages may come within the definitions of 2 or more kinds of insurance as defined in this chapter, and the inclusion of such coverage within one definition shall not exclude it as to any other kind of insurance within the definition of which such coverage is likewise reasonably includable.   [PL 1969, c. 132, §1 (NEW).]SECTION HISTORY PL 1969, c. 132, §1 (NEW).
24-A ME Rev Stat § 702 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 1: KINDS OF INSURANCE|24-A §702. "Life insurance" defined

 §702. "Life insurance" defined Life insurance is insurance on human lives. The transaction of life insurance includes also the granting endowment benefits, additional benefits in event of death or dismemberment by accident or accidental means, additional benefits in event of the insured's disability, and optional modes of settlement of proceeds of life insurance.   [PL 1969, c. 132, §1 (NEW).]SECTION HISTORY PL 1969, c. 132, §1 (NEW).
24-A ME Rev Stat § 703 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 1: KINDS OF INSURANCE|24-A §703. "Annuity" defined

 §703. "Annuity" defined For the purposes of this Title, an "annuity" is a contract under which obligations are assumed with respect to periodic payments for a specific term or terms or where the making or continuance of all or of some of the payments, or the amount of a payment, is dependent upon the continuance of human life, except payments made pursuant to optional modes of settlement under the authority of section 702. A contract that includes extra benefits of the kinds defined in sections 702 and 704 is deemed to be an annuity, if the extra benefits constitute a subsidiary or incidental part of the entire contract. A charitable gift annuity agreement, as defined in section 703-A, is not insurance.   [PL 1995, c. 375, Pt. C, §2 (AMD).]SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1995, c. 375, §C2 (AMD).
24-A ME Rev Stat § 703-A (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 1: KINDS OF INSURANCE|24-A §703-A. Charitable gift annuity agreement

 §703-A. Charitable gift annuity agreement 1.  Charitable gift annuity agreement defined.  For the purposes of this Title, a "charitable gift annuity agreement" is a written contract in which a qualified organization receives money or other property conditioned upon the organization's agreement to pay an annuity to one or more individuals; as long as, with respect to the organization, the annuity meets the requirements for exclusion from the definition of "acquisition indebtedness" under the Internal Revenue Code, Section 514(c)(5) or a successor provision.   [PL 1995, c. 375, Pt. C, §3 (NEW).] 2.  Qualified organization defined.  For the purposes of this Title, a "qualified organization" is an organization that is privately and specially established as an instrumentality of the State for a nonprofit purpose or an organization that meets the following requirements.   A. The organization is a nonprofit organization that is either:   (1) An organization to which the Maine Nonprofit Corporation Act applies; or   (2) Organized under the laws of a jurisdiction within the United States and qualified as a foreign corporation pursuant to Title 13‑B, chapter 12.   [PL 1995, c. 375, Pt. C, §3 (NEW).]B. The organization qualifies as a tax-exempt organization under the Internal Revenue Code, Section 501(c)(3) or a successor provision.   [PL 1995, c. 375, Pt. C, §3 (NEW).]C. The organization:   (1) Has been operating continuously for 5 or more years;   (2) Is a parent or subsidiary of a qualified organization; or   (3) Is the successor to an organization that meets the requirements of paragraphs A and B and both organizations together have operated continuously for 5 or more years.   [PL 1995, c. 375, Pt. C, §3 (NEW).][PL 1995, c. 375, Pt. C, §3 (NEW).] SECTION HISTORY PL 1995, c. 375, §C3 (NEW).
24-A ME Rev Stat § 704-A (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 1: KINDS OF INSURANCE|24-A §704-A. Health maintenance organization

 §704-A. Health maintenance organization For purposes of this Title, "health maintenance organization" is defined in section 4202-A, subsection 10.   [PL 1993, c. 702, Pt. A, §9 (NEW).]SECTION HISTORY PL 1993, c. 702, §A9 (NEW).
24-A ME Rev Stat § 705 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 1: KINDS OF INSURANCE|24-A §705. "Property insurance" defined

 §705. "Property insurance" defined Property insurance is insurance on real or personal property of every kind and of every interest therein against loss or damage from any and all hazard or cause, and against loss consequential upon such loss or damage, other than noncontractual legal liability for any such loss or damage. Property insurance does not include title insurance, as defined in section 709.   [PL 1969, c. 132, §1 (NEW).]SECTION HISTORY PL 1969, c. 132, §1 (NEW).
24-A ME Rev Stat § 706 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 1: KINDS OF INSURANCE|24-A §706. "Bonds" defined

 §706. "Bonds" defined The definition of "bonds" includes:   [PL 1995, c. 329, §4 (AMD).]1.  Fidelity insurance, which is insurance guaranteeing the honesty of persons holding positions of public or private trust;   [PL 1995, c. 329, §4 (AMD).] 2.  Surety insurance guaranteeing the performance of contracts, other than insurance policies, and guaranteeing and executing bonds, undertakings and contracts of suretyship; and   [PL 1995, c. 329, §4 (AMD).] 3.  Insurance indemnifying banks, bankers, brokers, financial or moneyed corporations or associations against loss, resulting from any cause, of bills of exchange, notes, bonds, securities, evidences of debt, deeds, mortgages, warehouse receipts or other valuable papers, documents, money, precious metals and articles made therefrom, jewelry, watches, gems, precious and semiprecious stones, including any loss while the same are being transported in armored motor vehicles, or by messenger, but not including any other risks of transportation or navigation; also insurance against loss or damage to such an insured's premises or to the insured's furnishings, fixtures, equipment, safes and vaults therein, caused by burglary, robbery, theft, vandalism or malicious mischief, or any attempt thereat.   [RR 2021, c. 1, Pt. B, §187 (COR).] SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1995, c. 329, §4 (AMD). RR 2021, c. 1, Pt. B, §187 (COR).
24-A ME Rev Stat § 709 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 1: KINDS OF INSURANCE|24-A §709. "Title insurance" defined

 §709. "Title insurance" defined Title insurance is insurance of owners of property or others having an interest therein, or liens or encumbrances thereon, against loss by encumbrance, or defective titles, or invalidity, or adverse claim to title.   [PL 1969, c. 132, §1 (NEW).]SECTION HISTORY PL 1969, c. 132, §1 (NEW).
24-A ME Rev Stat § 709-A (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 1: KINDS OF INSURANCE|24-A §709-A. Financial guaranty insurance defined

 §709-A. Financial guaranty insurance defined The term "financial guaranty insurance" includes any insurance under which loss is payable upon proof of occurrence of any of the following events to the damage of an insured claimant or obligee:   [PL 1987, c. 707, §2 (NEW).]1.  Failure of any obligor or obligors on any debt instrument or other monetary obligation, including common or preferred stock, to pay when due the principal, interest, dividend or purchase price of the instrument or obligation, whether the failure is the result of a financial default or insolvency and whether or not the obligation is incurred directly or as guarantor by, or on behalf of, another obligor which has also defaulted;   [PL 1987, c. 707, §2 (NEW).] 2.  Changes in the level of interest rates,whether short term or long term, or in the difference between interest rates existing in various markets;   [PL 1987, c. 707, §2 (NEW).] 3.  Changes in the rate of exchange of currency, or from the inconvertibility of one currency into another for any reason; or   [PL 1987, c. 707, §2 (NEW).] 4.  Changes in the value of specific assets, including the residual value of property at the termination of a lease.   [PL 1987, c. 707, §2 (NEW).] SECTION HISTORY PL 1987, c. 707, §2 (NEW).
24-A ME Rev Stat § 710 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 1: KINDS OF INSURANCE|24-A §710. "Multiple line" insurers (REPEALED)

 §710. "Multiple line" insurers (REPEALED)SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1991, c. 385, §8 (RP).
24-A ME Rev Stat § 721 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 2: LIMITS OF RISK|24-A §721. Limits of risk

 §721. Limits of risk 1.  No insurer shall retain any risk on any one subject of insurance, whether located or to be performed in this State or elsewhere, in an amount exceeding 10% of its surplus to policyholders.   [PL 1969, c. 132, §1 (NEW).] 2.  A "subject of insurance" for the purposes of this section, as to insurance against fire and hazards other than windstorm, earthquake and other catastrophic hazards, includes all properties insured by the same insurer which are customarily considered by underwriters to be subject to loss or damage from the same fire or the same occurrence of any other hazard insured against.   [PL 1969, c. 132, §1 (NEW).] 3.  Reinsurance ceded as authorized by section 731 shall be deducted in determining risk retained. As to surety risks, deduction shall be made of the amount assumed by any authorized cosurety and the value of any security deposited, pledged or held subject to the surety's consent and for the surety's protection.   [PL 1969, c. 132, §1 (NEW).] 4.  As to alien insurers, this section shall relate only to risks and surplus to policyholders of the insurer's United States branch.   [PL 1969, c. 132, §1 (NEW).] 5.  "Surplus to policyholders" for the purposes of this section, in addition to the insurer's capital and surplus, shall be deemed to include any voluntary reserves which are not required pursuant to law, and shall be determined from the last sworn statement of the insurer on file with the superintendent, or by the last report of examination of the insurer, whichever is the more recent at time of assumption of risk.   [PL 1973, c. 585, §12 (AMD).] 6.  This section shall not apply to life or health insurance, annuities, title insurance, insurance of wet marine and transportation risks, workers' compensation insurance, employers' liability coverages, nor to any policy or type of coverage as to which the maximum possible loss to the insurer is not readily ascertainable on issuance of the policy.   [PL 1987, c. 769, Pt. A, §89 (AMD).] 7.  Limits of risk as to newly formed domestic mutual insurers shall be as provided in section 3352.   [PL 1969, c. 132, §1 (NEW).] SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). PL 1987, c. 769, §A89 (AMD).
24-A ME Rev Stat § 731 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 3: REINSURANCE|24-A §731. Reinsurance (REPEALED)

 §731. Reinsurance (REPEALED)SECTION HISTORY PL 1969, c. 132, §1 (NEW). PL 1969, c. 177, §15 (AMD). PL 1973, c. 585, §12 (AMD). PL 1985, c. 330, §§7-9 (AMD). PL 1989, c. 846, §§E1,4 (RP).
24-A ME Rev Stat § 731-A (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 3: REINSURANCE|24-A §731-A. Acceptance of reinsurance

 §731-A. Acceptance of reinsurance An insurer may accept reinsurance only of such kinds of risks, and retain risk thereon within such limits, as the insurer is otherwise authorized to insure.   [PL 1989, c. 846, Pt. E, §2 (NEW); PL 1989, c. 846, Pt. E, §4 (AFF).]SECTION HISTORY PL 1989, c. 846, §§E2,4 (NEW).
24-A ME Rev Stat § 731-C (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 3: REINSURANCE|24-A §731-C. Bulk reinsurance

 §731-C. Bulk reinsurance The cession of bulk reinsurance by a domestic insurer is subject to section 3483.   [PL 1989, c. 846, Pt. E, §2 (NEW); PL 1989, c. 846, Pt. E, §4 (AFF).]SECTION HISTORY PL 1989, c. 846, §§E2,4 (NEW).
24-A ME Rev Stat § 731-D (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 3: REINSURANCE|24-A §731-D. Notification of reinsurance changes

 §731-D. Notification of reinsurance changes The superintendent may by rule or order require an insurer to promptly inform the superintendent in writing of the cancellation or any other material change of any of the insurer's reinsurance treaties or arrangements. Rules adopted pursuant to this section are routine technical rules as defined in Title 5, chapter 375, subchapter 2‑A.   [PL 2013, c. 238, Pt. B, §9 (AMD).]SECTION HISTORY PL 1989, c. 846, Pt. E, §2 (NEW). PL 1989, c. 846, Pt. E, §4 (AFF). PL 2013, c. 238, Pt. B, §9 (AMD).
24-A ME Rev Stat § 731-E (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 3: REINSURANCE|24-A §731-E. Reinsurance concentration risk

 §731-E. Reinsurance concentration risk 1.  Reinsurance claim exposure.  An insurer shall manage its reinsurance recoverables proportionate to its own book of business. A domestic insurer shall notify the superintendent within 30 days after reinsurance recoverables from any single assuming insurer, or group of affiliated assuming insurers, exceed 50% of the insurer's last reported surplus to policyholders or after it is determined that reinsurance recoverables from any single assuming insurer, or group of affiliated assuming insurers, are likely to exceed this limit.   [PL 2013, c. 238, Pt. B, §10 (NEW).] 2.  Diversification.  An insurer shall diversify its reinsurance program to the extent reasonably necessary to avoid imprudent concentrations of risk. A domestic insurer shall notify the superintendent within 30 days after ceding to any single assuming insurer, or group of affiliated assuming insurers, more than 20% of the insurer's gross written premium in the prior calendar year or after the insurer has determined that the reinsurance ceded to any single assuming insurer, or group of affiliated assuming insurers, is likely to exceed this limit.   [PL 2013, c. 238, Pt. B, §10 (NEW).] 3.  Risk management.  A notice provided by an insurer under subsection 1 or 2 must include a demonstration that the insurer is safely managing the exposure.   [PL 2013, c. 238, Pt. B, §10 (NEW).] SECTION HISTORY PL 2013, c. 238, Pt. B, §10 (NEW).
24-A ME Rev Stat § 732 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 3: REINSURANCE|24-A §732. Deposits and funds withheld under reinsurance treaties

 §732. Deposits and funds withheld under reinsurance treaties Any ceding insurer must report in its annual statement all funds withheld and deposit funds established pursuant to contracts of ceded reinsurance. Ceding insurers must report this and related information as required by reporting rules established by the National Association of Insurance Commissioners.   [PL 1991, c. 828, §19 (NEW).]SECTION HISTORY PL 1991, c. 828, §19 (NEW).
24-A ME Rev Stat § 733 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 3: REINSURANCE|24-A §733. Examination of reinsurance agreements

 §733. Examination of reinsurance agreements The superintendent may examine the reinsurance agreements or deposit arrangements of a ceding insurer at any time.   [PL 1991, c. 828, §19 (NEW).]SECTION HISTORY PL 1991, c. 828, §19 (NEW).
24-A ME Rev Stat § 734 (2021)
2021 Maine Revised Statutes|TITLE 24-A: MAINE INSURANCE CODE|Chapter 9: KINDS OF INSURANCE; LIMITS OF RISK; REINSURANCE|Subchapter 3: REINSURANCE|24-A §734. Minimum surplus regarding policyholders to assume property and casualty reinsurance

 §734. Minimum surplus regarding policyholders to assume property and casualty reinsurance 1.  Prohibition.  Notwithstanding section 731‑B, subsection 1, paragraph B, a domestic property or domestic casualty insurer, other than mutual assessment insurers operating pursuant to chapter 51, possessing less than $10,000,000 in surplus regarding policyholders may not, without the prior written approval of the superintendent, assume reinsurance on any risk that it is otherwise permitted to assume except when the reinsurance is:   A. Required by applicable law or rule; or   [PL 1991, c. 828, §19 (NEW).]B. Assumed pursuant to pooling arrangements among members of the same holding company system.   [PL 1991, c. 828, §19 (NEW).][PL 1991, c. 828, §19 (NEW).] 2.  Application.  This section applies to contracts of reinsurance entered into or renewed after the effective date of this section.   [PL 1991, c. 828, §19 (NEW).] 3.  Effect.  The performance of an activity prohibited by this section does not invalidate any reinsurance contract between the parties to the contract.   [PL 1991, c. 828, §19 (NEW).] SECTION HISTORY PL 1991, c. 828, §19 (NEW).