reglab/statecodes huggingface dataset:
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 44: PET INSURANCE › 24-A §3157. Wellness programs

§3157. Wellness programs
1.  Marketing.
An insurer or insurance producer may not:
A. Market a wellness program as pet insurance; or   [PL 2021, c. 562, §1 (NEW).]
B. Market a wellness program during the sale, solicitation or negotiation of pet insurance.   [PL 2021, c. 562, §1 (NEW).]
[PL 2021, c. 562, §1 (NEW).]
2.  Sale of wellness program.
If a wellness program is sold by an insurer or insurance producer, the following requirements apply:
A. The purchase of a wellness program may not be a requirement of the purchase of pet insurance;   [PL 2021, c. 562, §1 (NEW).]
B. The costs of a wellness program must be separate and identifiable from any pet insurance policy sold by an insurer or insurance producer;   [PL 2021, c. 562, §1 (NEW).]
C. The terms and conditions for a wellness program must be separate from any pet insurance policy sold by an insurer or insurance producer;   [PL 2021, c. 562, §1 (NEW).]
D. The products or coverages available through a wellness program may not duplicate products or coverages available through the pet insurance policy; and   [PL 2021, c. 562, §1 (NEW).]
E. The advertising of a wellness program may not be misleading and must differentiate the wellness program from pet insurance.   [PL 2021, c. 562, §1 (NEW).]
[PL 2021, c. 562, §1 (NEW).]
3.  Disclosure.
An insurer or insurance producer shall clearly disclose the following to consumers of wellness program products, printed in 12-point boldface type:
A. That wellness programs are not insurance;   [PL 2021, c. 562, §1 (NEW).]
B. The bureau's mailing address and toll-free telephone number and a link to the bureau's publicly accessible website; and   [PL 2021, c. 562, §1 (NEW).]
C. The address and customer service telephone number of the insurer or the producer of record.   [PL 2021, c. 562, §1 (NEW).]
[PL 2021, c. 562, §1 (NEW).]
4.  Wellness benefits.
Any coverages included in a pet insurance policy contract described as "wellness benefits" are considered insurance. If a wellness program undertakes to indemnify another party, pays a specified amount upon determinable contingencies or provides coverage for a fortuitous event, it is transacting the business of insurance and is subject to the requirements of this Title, except that a contract directly between a service provider and a pet owner that involves only those 2 parties is not transacting the business of insurance unless other indications of insurance also exist.
[PL 2021, c. 562, §1 (NEW).]
SECTION HISTORY
PL 2021, c. 562, §1 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 44: PET INSURANCE › 24-A §3158. Insurance producer requirements

§3158. Insurance producer requirements
1.  Training.
An insurance producer may not sell, solicit or negotiate a pet insurance product until after the producer is appropriately licensed and has completed the required training identified in subsection 2.
[PL 2021, c. 562, §1 (NEW).]
2.  Requirements.
An insurer shall ensure that any producer holding an appointment has been appropriately trained on the features of any pet insurance product offered by the producer. The training required under this subsection must include information on the following topics:
A. Preexisting conditions and waiting periods;   [PL 2021, c. 562, §1 (NEW).]
B. The differences between pet insurance and noninsurance wellness programs;   [PL 2021, c. 562, §1 (NEW).]
C. Hereditary disorders, congenital anomalies or disorders and chronic conditions and how pet insurance policies interact with those conditions or disorders; and   [PL 2021, c. 562, §1 (NEW).]
D. Rating, underwriting, renewal and other related administrative topics.   [PL 2021, c. 562, §1 (NEW).]
[PL 2021, c. 562, §1 (NEW).]
3.  License.
Notwithstanding any provision of this Title to the contrary, a person licensed in any of the following lines of authority may sell, solicit and negotiate pet insurance:
A. Property;   [PL 2023, c. 225, §1 (NEW).]
B. Accident and health or sickness; or   [PL 2023, c. 225, §1 (NEW).]
C. Personal lines.   [PL 2023, c. 225, §1 (NEW).]
[PL 2023, c. 225, §1 (NEW).]
SECTION HISTORY
PL 2021, c. 562, §1 (NEW). PL 2023, c. 225, §1 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 44: PET INSURANCE › 24-A §3159. Enforcement

§3159. Enforcement
The superintendent may assess a civil penalty or take any other action permitted under section 12‑A against any person that violates any provision of this chapter.   [PL 2021, c. 562, §1 (NEW).]
SECTION HISTORY
PL 2021, c. 562, §1 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 44: PET INSURANCE › 24-A §3160. Rules

§3160. Rules
The superintendent may adopt rules to implement this chapter. Rules adopted pursuant to this section are routine technical rules as defined in Title 5, chapter 375, subchapter 2‑A.   [PL 2021, c. 562, §1 (NEW).]
SECTION HISTORY
PL 2021, c. 562, §1 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 44: PET INSURANCE › 24-A §3161. Effective date

§3161. Effective date
This chapter takes effect January 1, 2023.   [PL 2021, c. 562, §1 (NEW).]
SECTION HISTORY
PL 2021, c. 562, §1 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 45: TITLE INSURANCE CONTRACTS › 24-A §3201. Contracts subject to general provisions

§3201. Contracts subject to general provisions
All contracts of title insurance delivered or issued for delivery in this State and covering subjects located in this State are subject to the applicable provisions of chapter 27 (the insurance contract) and to other applicable provisions of this Title.   [PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 45: TITLE INSURANCE CONTRACTS › 24-A §3202. Closing protection letters

§3202. Closing protection letters
1.  Title insurer may issue closing or settlement protection.
A title insurer may issue closing or settlement protection on a form of closing protection letter approved by the superintendent pursuant to section 2412. Only a buyer, borrower or lender that is a party to a transaction in which a title insurance policy will be issued by or on behalf of the title insurer issuing the closing or settlement protection is eligible to receive the benefit of closing or settlement protection. Closing or settlement protection issued pursuant to this subsection must benefit each buyer, borrower and lender that is a party to the transaction for which that closing or settlement protection is issued.
[PL 2013, c. 233, §1 (NEW).]
2.  Indemnity.
The closing or settlement protection issued pursuant to subsection 1 may indemnify a buyer, borrower or lender against loss because of one of the following acts of a policy-issuing title insurance agent or other settlement service provider under the terms and conditions of the closing protection letter as issued by the title insurer:
A. Theft or misappropriation of settlement funds in connection with a transaction, but only to the extent that the theft relates to the status of the title to an insured interest in land or to the validity, enforceability and priority of the lien of the mortgage on an insured interest in land; and   [PL 2013, c. 233, §1 (NEW).]
B. Failure to comply with the written closing instructions when agreed to by the settlement agent or title agent, but only to the extent that the failure to comply with the instructions relates to the status of the title to an insured interest in land or the validity, enforceability and priority of the lien of the mortgage on an insured interest in land.   [PL 2013, c. 233, §1 (NEW).]
[PL 2013, c. 233, §1 (NEW).]
3.  Fee.
The fee charged by a title insurer for closing or settlement protection coverage must be filed with the superintendent pursuant to section 2304‑A. The fee may not be subject to any agreement requiring a division of fees or premiums collected on behalf of the title insurer. A title insurer may charge only one fee for a closing or settlement protection letter for the protection of all parties receiving the benefit of closing or settlement protection in connection with the real property transaction giving rise to the issuance of the closing or settlement protection letter.
[PL 2013, c. 233, §1 (NEW).]
4.  Provision of other protection prohibited.
Except as provided in this section, a title insurer may not provide any protection that purports to indemnify against improper acts or omissions of a person with regard to settlement or closing services.
[PL 2013, c. 233, §1 (NEW).]
SECTION HISTORY
PL 2013, c. 233, §1 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 1: ORGANIZATION AND GENERAL POWERS › 24-A §3301. Scope of chapter

§3301. Scope of chapter
This chapter applies only as to domestic stock and mutual insurers transacting insurance on the cash premium or legal reserve plan.   [PL 1973, c. 788, §107 (AMD).]
1.
[PL 1973, c. 788, §107 (RP).]
2.
[PL 1973, c. 788, §107 (RP).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1973, c. 788, §107 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 1: ORGANIZATION AND GENERAL POWERS › 24-A §3302. Insurers to be organized under this Title

§3302. Insurers to be organized under this Title
All domestic stock and mutual legal reserve insurers hereafter organized shall be organized under the provisions of this Title, and not otherwise.   [PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 1: ORGANIZATION AND GENERAL POWERS › 24-A §3303. Reservation of power

§3303. Reservation of power
The Legislature shall have power to amend, repeal or modify this Title at pleasure.   [PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 1: ORGANIZATION AND GENERAL POWERS › 24-A §3304. Applicability of general corporation statutes

§3304. Applicability of general corporation statutes
Domestic stock and mutual insurers shall be governed by the applicable provisions of the general statutes of this State relating to private corporations organized for profit, as such statutes are now or hereafter may be constituted, except where such general statutes are in conflict with the express provisions of this Title and the reasonable implications thereof, and in which case the provisions of this Title shall govern.   [PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 1: ORGANIZATION AND GENERAL POWERS › 24-A §3305. "Stock," "mutual" insurers defined

§3305. "Stock," "mutual" insurers defined
1.
A "stock" insurer is as defined in section 400.
[PL 1969, c. 132, §1 (NEW).]
2.
A "mutual" insurer is as defined in section 401.
[PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 1: ORGANIZATION AND GENERAL POWERS › 24-A §3308. Certificate of Secretary of State (REPEALED)

§3308. Certificate of Secretary of State
(REPEALED)
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). PL 2009, c. 56, §17 (RP).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 1: ORGANIZATION AND GENERAL POWERS › 24-A §3308-A. Filing by the Secretary of State

§3308-A. Filing by the Secretary of State
1.  Duty to file.
If a document delivered to the office of the Secretary of State for filing pursuant to this chapter satisfies the requirements of Title 13‑C and this chapter, the Secretary of State shall file the document.
[PL 2013, c. 299, §4 (AMD).]
2.  Recording as filed; acknowledgment.
The Secretary of State files a document pursuant to subsection 1 by recording it as filed on the date of receipt. After filing a document, the Secretary of State shall deliver to the corporation or its representative a copy of the document with an acknowledgment of the date of filing.
[PL 2009, c. 56, §18 (NEW).]
3.  Evidentiary effect of copy of filed document.
A certificate from the Secretary of State delivered with a copy of a document filed by the Secretary of State is conclusive evidence that the original document is on file with the Secretary of State.
[PL 2009, c. 56, §18 (NEW).]
SECTION HISTORY
PL 2009, c. 56, §18 (NEW). PL 2013, c. 299, §4 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 1: ORGANIZATION AND GENERAL POWERS › 24-A §3309. Completion of incorporation; general powers, duties

§3309. Completion of incorporation; general powers, duties
The incorporation of an insurer is effective as of the date of filing of the appropriate document by the Secretary of State as provided for in section 3308‑A, and thereupon the corporation is vested with all the powers, rights and privileges and is subject to all the duties, liabilities and restrictions applicable to insurer corporations subject to qualification and application for, and issuance to the corporation of, a certificate of authority as an insurer by the superintendent under this Title.   [PL 2009, c. 56, §19 (AMD).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). PL 2009, c. 56, §19 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 1: ORGANIZATION AND GENERAL POWERS › 24-A §3310. Amendment of articles of incorporation; change of principal place of business

§3310. Amendment of articles of incorporation; change of principal place of business
1.
A stock insurer may amend its articles of incorporation for any lawful purpose by authorization or vote of stockholders as provided for business corporations in general under the laws of this State applicable to such business corporations.
[PL 2013, c. 299, §5 (AMD).]
2.
A mutual insurer may amend its articles of incorporation for any lawful purpose by affirmative vote of a majority of those of its members entitled to vote and present or represented by proxy at a lawful meeting of its members of which the notice given members included due notice of the proposal to amend and the substance of such proposal, and by affirmative vote of the holders of at least 2/3 of the insurer's outstanding guaranty capital shares, if any.
[PL 2013, c. 299, §5 (AMD).]
3.
Upon adoption of an amendment under subsection 1 or 2, the insurer shall make in triplicate a certificate, sometimes referred to as a "certificate of amendment", setting forth the amendment and the date and manner of the adoption of the amendment. The certificate must be executed by the insurer's president or vice-president and secretary or assistant secretary and duly sworn to by one of them. The insurer shall deliver to the superintendent the triplicate originals of the certificate for review, certification and approval or disapproval by the Attorney General and the superintendent, and filing and recording, all as provided for original articles of incorporation under section 3307. The Secretary of State shall charge and collect for the use of the State a fee of $20 for filing and recording the certificate of amendment of a mutual insurer. The amendment is effective when duly approved and filed with the Secretary of State.
[PL 2015, c. 329, Pt. B, §3 (AMD).]
4.
An insurer may change its principal place of business without amendment of its articles of incorporation, by resolution of its board of directors. A copy of the resolution, duly certified under oath by the corporate secretary, must be executed in triplicate and filed with the superintendent, with the Secretary of State and in the corporate records.
[PL 2013, c. 299, §5 (AMD).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). PL 2013, c. 299, §5 (AMD). PL 2015, c. 329, Pt. B, §3 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 1: ORGANIZATION AND GENERAL POWERS › 24-A §3311. Insurance business exclusive; exceptions

§3311. Insurance business exclusive; exceptions
1.
No domestic insurer heretofore or hereafter formed shall engage in any business other than the insurance business and in business activities reasonably and necessarily incidental to such insurance business.
[PL 1969, c. 132, §1 (NEW).]
2.
Except that:
A. A title insurer may also engage in business as an escrow agent;   [PL 1969, c. 132, §1 (NEW).]
B. Any insurer may also engage in business activities reasonably related to the management, supervision, servicing of, and protection of its interests as to its lawful investments;   [PL 1969, c. 132, §1 (NEW).]
C. An insurer may own subsidiaries or subsidiaries owning other subsidiaries which may engage in such businesses all as provided for in section 1115 (stocks of subsidiaries) or in section 1157 (investment in subsidiaries);   [PL 1987, c. 399, §17 (AMD).]
D. An insurer may utilize its facilities to perform administrative services for any governmental body, unit or agency; and   [PL 1987, c. 399, §17 (AMD).]
E. An insurer transacting business of a type described in section 702, life insurance; section 703, annuity; or section 704, health insurance; or any combination of those types of business, may engage in any other business in which it is otherwise qualified to engage to the extent and in the manner approved by the superintendent.   [PL 1987, c. 399, §18 (NEW).]
[PL 1987, c. 399, §§17, 18 (AMD).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1987, c. 399, §§17,18 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 2: PROVISIONS APPLYING ONLY TO MUTUAL INSURERS › 24-A §3353. Qualifying applications for insurance; bond or deposit

§3353. Qualifying applications for insurance; bond or deposit
1.
Before soliciting any applications for insurance required under section 3352 as qualification for the original certificate of authority, the incorporators of the proposed insurer shall file with the superintendent a corporate surety bond in the penalty of $15,000, in favor of the State and for the use and benefit of the State and of applicant members and creditors of the corporation. The bond must be conditioned in the event the corporation fails to complete its organization and secure a certificate of authority within one year after the date of its articles of incorporation:
A. For the prompt return to applicant members of all premiums collected in advance;   [PL 1969, c. 132, §1 (NEW).]
B. For payment of all indebtedness of the corporation; and   [PL 1969, c. 132, §1 (NEW).]
C. For payment of costs incurred by the State in the event of any legal proceedings for liquidation or dissolution of the corporation.   [PL 2013, c. 299, §6 (AMD).]
[PL 2013, c. 299, §6 (AMD).]
2.
In lieu of such bond, the incorporators may deposit with the commissioner $15,000 in cash or United States government bonds, negotiable and payable to the bearer, with a market value at all times of not less than $15,000 and to be held in trust upon the same conditions as required for the bond.
[PL 1969, c. 132, §1 (NEW).]
3.
The superintendent shall release and discharge any such bond filed or deposit or remaining portion thereof held under this section upon settlement and termination of all liabilities against it.
[PL 1973, c. 585, §12 (AMD).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). PL 2013, c. 299, §6 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 2: PROVISIONS APPLYING ONLY TO MUTUAL INSURERS › 24-A §3354. Qualifying applications for insurance; solicitation

§3354. Qualifying applications for insurance; solicitation
1.
Upon receipt of the superintendent's approval of the bond or deposit as provided in section 3353, the directors and officers of the proposed domestic mutual insurer may commence solicitation of such requisite applications for insurance policies as they may accept, and may receive deposits of premiums thereon.
[PL 1973, c. 585, §12 (AMD).]
2.
All such applications shall be in writing signed by the applicant, covering subjects of insurance resident, located or to be performed in this State.
[PL 1969, c. 132, §1 (NEW).]
3.
All applications must provide that:
A. Issuance of the policy is contingent upon the insurer qualifying for and receiving a certificate of authority;   [PL 1969, c. 132, §1 (NEW).]
B. Insurance is not in effect until the certificate of authority has been issued; and   [PL 2013, c. 299, §7 (AMD).]
C. The prepaid premium or deposit, and membership or policy fee, if any, must be refunded in full to the applicant if organization is not completed and the certificate of authority is not issued and received by the insurer before a specified reasonable date, which date may not be later than one year after the date of the articles of incorporation.   [PL 2013, c. 299, §7 (AMD).]
[PL 2013, c. 299, §7 (AMD).]
4.
All qualifying premiums collected shall be in cash.
[PL 1969, c. 132, §1 (NEW).]
5.
Solicitation for such qualifying applications for insurance must be by licensed producers of the corporation, and the superintendent shall, upon the corporation's application therefor, issue temporary producer's licenses expiring on the date specified pursuant to subsection 3, paragraph C to individuals qualified as for a resident producer's license except as to the taking or passing of an examination. The superintendent may suspend or revoke any such license for any of the causes and pursuant to the same procedures as are applicable to suspension or revocation of licenses of producers in general under chapter 16.
[PL 1997, c. 457, §44 (AMD); PL 1997, c. 457, §55 (AFF).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). PL 1997, c. 457, §44 (AMD). PL 1997, c. 457, §55 (AFF). PL 2013, c. 299, §7 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 2: PROVISIONS APPLYING ONLY TO MUTUAL INSURERS › 24-A §3355. Deposit of qualifying premiums; effective date of insurance

§3355. Deposit of qualifying premiums; effective date of insurance
1.
All sums collected by a domestic mutual corporation as premiums or fees on qualifying applications for insurance therein shall be deposited in trust in a bank or trust company in this State under a written trust agreement consistent with this section and with section 3354, subsection 3, paragraph C. The corporation shall file an executed copy of such trust agreement with the superintendent.
[PL 1973, c. 585, §12 (AMD).]
2.
Upon issuance to the corporation of a certificate of authority as an insurer for the kind or kinds of insurance for which such applications were solicited, all funds so held in trust shall become the funds of the insurer, and the insurer shall thereafter in due course issue and deliver its policies for which premiums had been paid and accepted. The insurance provided by such policies shall be effective as of the date of the certificate of authority or thereafter as provided by the respective policies.
[PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 2: PROVISIONS APPLYING ONLY TO MUTUAL INSURERS › 24-A §3356. Failure to complete and qualify

§3356. Failure to complete and qualify
If the proposed domestic mutual insurer fails to complete its organization and to secure its original certificate of authority within one year after the date its articles of incorporation were filed with the Secretary of State, its corporate powers cease, and the superintendent shall return or cause to be returned to the persons entitled to them all advance deposits or payments of premium held in trust under section 3355.   [PL 2013, c. 299, §8 (AMD).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). PL 2013, c. 299, §8 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 2: PROVISIONS APPLYING ONLY TO MUTUAL INSURERS › 24-A §3357. Authority to transact additional kinds of insurance

§3357. Authority to transact additional kinds of insurance
After being authorized to transact one kind or combination of kinds of insurance as provided in section 3352, a mutual insurer may be authorized by the superintendent to transact such additional kinds of insurance as are permitted under section 409 (combinations of insuring powers), while otherwise in compliance with this Title and while maintaining unimpaired surplus and guaranty capital funds in an amount not less than the amount of paid-in capital stock required to be maintained by a like domestic stock insurer transacting the same kinds of insurance.   [PL 1973, c. 585, §12 (AMD).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 2: PROVISIONS APPLYING ONLY TO MUTUAL INSURERS › 24-A §3359. Bylaws

§3359. Bylaws
1.
A domestic mutual insurer shall have bylaws for the government of its affairs. The insurer's initial board of directors shall adopt original bylaws, subject to the approval of the insurer's members at the next meeting of members.
[PL 1969, c. 132, §1 (NEW).]
2.
The bylaws shall contain provisions, consistent with this Title, relating to:
A. The voting rights of members;   [PL 1969, c. 132, §1 (NEW).]
B. Election of directors, and the number, qualifications, terms of office and powers of directors;   [PL 1969, c. 132, §1 (NEW).]
C. Annual and special meetings of members;   [PL 1969, c. 132, §1 (NEW).]
D. The number, designation, election, terms and powers and duties of the respective corporate officers;   [PL 1969, c. 132, §1 (NEW).]
E. Deposit, custody, disbursement and accounting for corporate funds;   [PL 1969, c. 132, §1 (NEW).]
F. Fidelity bonds covering such officers and employees of the insurer as handle its funds, to be issued by a corporate surety and to be in such amount as may be reasonable; and   [PL 1969, c. 132, §1 (NEW).]
G. Such other matters as may be customary, necessary or convenient for the management or regulation of corporate affairs.   [PL 1969, c. 132, §1 (NEW).]
[PL 1969, c. 132, §1 (NEW).]
3.
The insurer shall promptly file with the superintendent a copy, certified by the insurer's secretary, of its bylaws and of every modification thereof or addition thereto. The superintendent shall disapprove any bylaw provision deemed by him, after a hearing held thereon, to be unlawful, unreasonable, inadequate, unfair or detrimental to the proper interests or protection of the insurer's members or any class thereof. The insurer shall not, after receiving written notice of such disapproval and during the existence thereof, effectuate any bylaw provision so disapproved.
[PL 1973, c. 585, §12 (AMD).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 2: PROVISIONS APPLYING ONLY TO MUTUAL INSURERS › 24-A §3360. Members are policyholders

§3360. Members are policyholders
1.
Each policyholder of a domestic mutual insurer, other than of a reinsurance contract, is a member of the insurer with all rights and obligations of such membership, as the charter and as the policy shall so specify.
[PL 1969, c. 132, §1 (NEW).]
2.
Any person, government or governmental agency, state or political subdivision thereof, public or private corporation, board, association, firm, estate, trustee or fiduciary may be a member of a domestic, foreign or alien mutual insurer. Any officer, stockholder, trustee or legal representative of any such corporation, board, association or estate may be recognized as acting for or on its behalf for the purpose of such membership, and shall not be personally liable upon any contract of insurance for acting in such representative capacity.
[PL 1969, c. 132, §1 (NEW).]
3.
Any domestic corporation may participate as a member of a mutual insurer as an incidental purpose for which such corporation is organized, and as much granted as the rights and powers expressly conferred.
[PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 2: PROVISIONS APPLYING ONLY TO MUTUAL INSURERS › 24-A §3361. Meetings of members, in general

§3361. Meetings of members, in general
1.
Meetings of members of a domestic mutual insurer shall be held in the city or town of its principal office in this State, except as may otherwise be provided in the insurer's bylaws with the superintendent's approval.
[PL 1973, c. 585, §12 (AMD).]
2.
Each such insurer shall, during the first 6 months of each calendar year, hold the annual meeting of its members to fill vacancies existing or occurring in the board of directors, receive and consider reports of the insurer's officers as to its affairs and transact such other business as may properly be brought before it.
[PL 1969, c. 132, §1 (NEW).]
3.
Written notice of the time and place of the annual meeting of members shall be given members not less than 30 days prior to the meeting. Notice may be given by imprinting the notice plainly on the policies issued by the insurer or in any other appropriate manner. Any change of the date or place of the annual meeting shall be made only by an annual meeting of members. Notice of such change, among other appropriate methods, may be given:
A. By imprinting such new date or place on all policies which will be in effect as of the date of such changed meeting; or   [PL 1969, c. 132, §1 (NEW).]
B. Unless the superintendent otherwise orders, notice of the new date or place need be given only through policies issued after the date of the annual meeting at which such change was made and in premium notices and renewal certificates issued during the 24 months immediately following such meeting.   [PL 1973, c. 585, §12 (AMD).]
[PL 1973, c. 585, §12 (AMD).]
4.
If more than 6 months are allowed to elapse after an annual meeting of members is due to be held and without such annual meeting being held, the superintendent shall, upon written request of any officer, director or member of the insurer, cause written notice of such meeting to be given to the insurer's members, and the meeting shall be held as soon as reasonably possible thereafter.
[PL 1973, c. 585, §12 (AMD).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 2: PROVISIONS APPLYING ONLY TO MUTUAL INSURERS › 24-A §3362. Special meetings of members

§3362. Special meetings of members
1.  A special meeting of the members of a mutual insurer may be held for any lawful purpose.
The meeting shall be called by the corporate secretary pursuant to request of the insurer's president or of its board of directors, or upon request in writing signed by not less than 1/10 of the insurer's members. The meeting shall be held at such time as the secretary may fix, but not less than 10 nor more than 30 days after receipt of the request. If the secretary fails to issue such call, the president, directors or members making the request may do so.
[PL 1969, c. 132, §1 (NEW).]
2.  Not less than 10 days' written notice of the meeting shall be given.
Notice addressed to the insurer's members at their respective post-office addresses last of record with the insurer and deposited, postage prepaid, in a letter depository of the United States post office, shall be deemed to have been given when so mailed. In lieu of mailed notice, the insurer may publish the notice in such publication or publications as shall afford a majority of its members a reasonable opportunity to have actual advance notice of the meeting. The notice shall state the purposes of the meeting, and no business shall be transacted at the meeting of which notice was not so given.
[RR 2015, c. 2, §15 (COR).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). RR 2015, c. 2, §15 (COR).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 2: PROVISIONS APPLYING ONLY TO MUTUAL INSURERS › 24-A §3363. Voting rights of members

§3363. Voting rights of members
1.
Each member of a mutual insurer is entitled to one vote upon each matter coming to a vote at a meeting of members, or to such other vote as may be provided for on a reasonable basis in the insurer's bylaws with the superintendent's approval.
[PL 1973, c. 585, §12 (AMD).]
2.
A member has the right to vote in person or by the member's written proxy filed with the corporate secretary not less than 20 days prior to the meeting. Any such proxy may not be made irrevocable, or be valid beyond the earlier of the following dates:
A. The date of expiration set forth in the proxy;   [PL 2021, c. 676, Pt. A, §38 (AMD).]
B. The date of termination of membership; or   [PL 2021, c. 676, Pt. A, §39 (AMD).]
C. Five years from the date of execution of the proxy.   [RR 2021, c. 2, Pt. A, §75 (COR).]
[RR 2021, c. 2, Pt. A, §75 (COR).]
3.
No member's vote upon any proposal to divest the insurer of its business or assets, or the major part thereof, shall be registered or taken, except in person or by proxy newly executed and specific as to the matter to be voted upon.
[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, §267 (COR). PL 2021, c. 676, Pt. A, §§38, 39 (AMD). RR 2021, c. 2, Pt. A, §75 (COR).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 2: PROVISIONS APPLYING ONLY TO MUTUAL INSURERS › 24-A §3364. Contingent liability of members

§3364. Contingent liability of members
1.
Except as provided otherwise in section 3367 with respect to nonassessable policies, each member of a domestic mutual insurer has a contingent liability, pro rata and not one for another, for the discharge of its obligations, which contingent liability may not be greater than 6 times the annual premium for the member's policy at the annual premium rate, as is specified in the insurer's articles of incorporation or bylaws.
[PL 2013, c. 299, §10 (AMD).]
2.
Every policy issued by the insurer shall contain a plain and legible statement of the contingent liability upon either the face or back thereof.
[PL 1969, c. 132, §1 (NEW).]
3.
Termination of the policy of any such member does not relieve the member of contingent liability for the member's proportion of the obligations of the insurer that accrued while the policy was in force.
[RR 2021, c. 1, Pt. B, §268 (COR).]
4.
Unrealized contingent liability of members does not constitute an asset of the insurer in any determination of its financial condition.
[PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1981, c. 501, §45 (AMD). PL 2013, c. 299, §10 (AMD). RR 2021, c. 1, Pt. B, §268 (COR).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 2: PROVISIONS APPLYING ONLY TO MUTUAL INSURERS › 24-A §3365. Levy of contingent liability

§3365. Levy of contingent liability
1.
If at any time the assets of a domestic mutual insurer are less than its liabilities, exclusive of guaranty capital shares, if any, at par value, and the minimum amount of surplus required to be maintained by it under this Title for authority to transact the kinds of insurance being transacted, and the deficiency is not cured from other sources, its directors may, if the same is approved by the superintendent as being reasonable and in the best interests of the insurer and its members, levy an assessment only on its members who held the policies providing for contingent liability at any time within the 12 months next preceding the date the levy was authorized by the board of directors, and such members shall be liable to the insurer for the amount so assessed.
[PL 1973, c. 585, §12 (AMD).]
2.
The levy of assessment shall be for such an amount as is required to cure such deficiency and to provide a reasonable amount of working funds above such minimum amount of surplus, but such working funds so provided shall not exceed 5% of the sum of the insurer's liabilities and such minimum required surplus as of the date of the levy.
[PL 1969, c. 132, §1 (NEW).]
3.
As to the respective policies subject to the levy, the assessment shall be computed upon the basis of premium earned during the period covered by the levy.
[PL 1969, c. 132, §1 (NEW).]
4.
A member may not have an offset or counterclaim against any assessment for which the member is liable, on account of any claim for unearned premium or loss payable.
[RR 2021, c. 1, Pt. B, §269 (COR).]
5.
As to life insurance, any part of such an assessment upon a member which remains unpaid following notice of assessment, demand for payment, and lapse of a reasonable waiting period as specified in such notice, may, if approved by the superintendent as being in the best interests of the insurer and its members, be secured by placing a lien upon the cash surrender values and accumulated dividends held or to be held by the insurer to the credit of the member's policy.
[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, §269 (COR).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 2: PROVISIONS APPLYING ONLY TO MUTUAL INSURERS › 24-A §3366. Enforcement of contingent liability

§3366. Enforcement of contingent liability
1.
The insurer shall notify each member of the amount of assessment to be paid, and the date, not less than 20 days after mailing date, by which payment is to be made, by written notice mailed to the member at the member's address last of record with the insurer. Failure of the member to receive the notice so mailed, within the time specified therein for the payment of the assessment or at all, is not a defense in any action to collect the assessment.
[RR 2021, c. 1, Pt. B, §270 (COR).]
2.
If a member fails to pay the assessment within the period specified in the notice, the insurer may institute suit to collect the same.
[PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). RR 2021, c. 1, Pt. B, §270 (COR).
2023 Maine Revised Statutes › TITLE 24-A: MAINE INSURANCE CODE › Chapter 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS › Subchapter 2: PROVISIONS APPLYING ONLY TO MUTUAL INSURERS › 24-A §3367. Nonassessable policies; limits of assessability; use of funds; combination operation

§3367. Nonassessable policies; limits of assessability; use of funds; combination operation
1.
A domestic mutual insurer may extinguish the contingent liability to assessment of its members as to cash premium plan policies in force and may omit provisions imposing contingent liability in such policies currently issued while it has and maintains surplus, as determined by its financial statement filed with the superintendent as of the year end next preceding, of not less than $100,000 as to an insurer formed prior to January 1, 1968, and of not less than $200,000 as to an insurer formed after January 1, 1968.
[PL 1973, c. 585, §12 (AMD).]
2.
If the insurer after qualifying to issue such a nonassessable policy fails to maintain the applicable above requirement, it shall cease to issue nonassessable policies until it has again met and maintained the requirement for a period of one year.
[PL 1969, c. 132, §1 (NEW).]
3.
Any assessment levied under the contingent liability provisions of the policy shall be for the exclusive benefit of the holders of policies subject to contingent liability, and such policyholders shall not be liable to assessment in an amount greater in proportion to the total deficiency than the ratio that the deficiency attributable to the contingently liable business bears to the total deficiency. An assessment shall apply only to the holders of the type of policy or plan under which the deficiency occurred, and funds received from the assessment shall be for the exclusive benefit of such holders.
[PL 1969, c. 132, §1 (NEW).]
4.
Nothing in this chapter shall be deemed to prohibit a domestic mutual insurer formed prior to January 1, 1968 from at any one time transacting, in respective departments or divisions of its operations, insurance business on any two or all of the following bases:
A. Cash premium plan, without contingent liability to assessment, and issuance of nonassessable policies if qualified therefor as above provided in this section;   [PL 1969, c. 132, §1 (NEW).]
B. Cash premium plan, with contingent liability to assessment; and   [PL 1969, c. 132, §1 (NEW).]
C. Assessment plan.   [PL 1969, c. 132, §1 (NEW).]
[PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD).
2023 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 §3409. Vouchers for expenditures

§3409. Vouchers for expenditures
1.
No insurer shall make any disbursement of $50 or more, unless such disbursement is evidenced by a voucher or other document correctly describing the consideration for the payment and supported by a check or receipt endorsed or signed by or on behalf of the person receiving the money, or made through an electronic or wire funds transfer system supported by accurate records identifying the payor, payee, date of electronic or wire transfer payment, and the nature of the disbursement so made.
[PL 1981, c. 501, §47-A (AMD).]
2.
If the disbursement is for services and reimbursement, the voucher or other document, or some other writing referred to therein, shall describe the services and itemize the expenditures.
[PL 1969, c. 132, §1 (NEW).]
3.
If in a particular instance a required voucher cannot be obtained, the expenditure must be supported by an affidavit executed by an officer of the insurer stating the reasons for such inability and the particulars of such expenditure as otherwise required in this section.
[PL 1981, c. 501, §47-A (AMD).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1981, c. 501, §§47-A (AMD).
2023 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 §3410. Destruction of records

§3410. Destruction of records
1.
An insurer may destroy its obsolete records after expiration of such reasonable period after completion of the transactions to which they relate as the insurer may deem proper. The insurer may so destroy its closed files relating to losses and claims arising under its policies after the first to occur of the following events:
A. Completion of a regular examination of the insurer by the superintendent and to which the closed file was subject; or   [PL 1973, c. 585, §12 (AMD).]
B. Expiration of 6 years after the file was duly closed.   [PL 1969, c. 132, §1 (NEW).]
[PL 1973, c. 585, §12 (AMD).]
2.
Records preserved on microfilm or other similar process and freely retrievable shall not be deemed to have been destroyed.
[PL 1969, c. 132, §1 (NEW).]
3.
This section shall not relieve the insurer of any responsibility or liability otherwise arising under law with respect to the existence and availability of any record.
[PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD).
2023 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 §3411. Directors

§3411. Directors
1.
The affairs of every domestic insurer must be managed by a board of directors consisting of not less than 7 directors or more than 21 directors, except that a domestic insurer may be managed by an initial board of not less than 3 directors during its first year of existence if so provided for by its articles of incorporation.
[PL 2013, c. 299, §11 (AMD).]
2.
Directors, other than initial directors named in the insurer's articles of incororation, must be elected by the members or stockholders of a domestic insurer at the annual meeting of stockholders or members. Directors may be elected for terms of not more than 3 years each and until their successors are elected and have qualified; and, if the directors are to be elected for terms of more than one year, the insurer's bylaws may provide for a staggered term system under which the terms of a proportionate part of the members of the board of directors expire on the date of each annual meeting of stockholders or members. A directorship becoming vacant before expiration of the term may be filled by the board of directors for the remainder of the term.
[PL 2013, c. 299, §11 (AMD).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 2013, c. 299, §11 (AMD).
2023 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 §3412. Officers; notice of change

§3412. Officers; notice of change
1.
An insurer's board of directors shall elect one of their number as president, and shall elect a corporate secretary and such other officers as may be provided for in the bylaws or otherwise required by law. Any such officer shall serve for such term as may be fixed in the bylaws or by the board of directors, but shall be subject to removal as an officer by the board of directors at any time.
[PL 1969, c. 132, §1 (NEW).]
2.
Each officer shall have such powers and duties as may be prescribed by or pursuant to the insurer's charter or bylaws.
[PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW).