# Maine LD 720: An Act to Protect Federal Home Loan Banks That Lend Money to Insurer Members That Become Delinquent Maine LD 720, An Act to Protect Federal Home Loan Banks That Lend Money to Insurer Members That Become Delinquent, is a 132nd Maine Legislature (2025-2026) House bill sponsored by Robert Foley (Republican); status signed, last action 2025-03-25 (Signed by Governor, ACTPUB Chapter 17); PRIA reads it as touching household money (as of 2026-10-17). - Canonical: https://policyrisk.com/state-bill/ME-LD720-132 - As of: 2026-10-17 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Maine LD 720 - State: Maine - Session: 132nd Maine Legislature (2025-2026) - Title: An Act to Protect Federal Home Loan Banks That Lend Money to Insurer Members That Become Delinquent - Status: signed - Chamber: House - Introduced: 2025-02-20 - Last action: 2025-03-25, Signed by Governor, ACTPUB Chapter 17 - Sponsor: Robert Foley (Republican) - Cosponsors: 5 - Subjects: FINANCIAL PRACTICES, FINANCIAL PRACTICES - INSURANCE SALES - Touches household money: yes - Economic provisions PRIA read: 3 ## Summary No summary available. ## Bill overview: provisions PRIA read - Faster collateral and stock for insurers: benefit, low. When a receiver is named for an insurer that belongs to a Federal Home Loan Bank, the bank must send the Maine Superintendent a process and timeline within 10 days. It must cover releasing collateral that is not needed after partial or full repayment, paying fees, handling or closing accounts, and… - Limits on court blocks and clawbacks: benefit, low. Courts and others can only block an insurer member from using rights under a Federal Home Loan Bank loan or collateral deal for up to 10 days. Receivers and others cannot undo or avoid transfers or preferences tied to Federal Home Loan Bank pledges, loans, collateral, or guarantees, whether made be… - Loan workout options for insurers: benefit, low. In any insurance proceeding that involves an insurer member, the Federal Home Loan Bank must provide the Maine Superintendent any available options to renew or restructure that insurer’s loans, when asked. The bank may consider market conditions, current loan terms, its policies, and federal rules… ## Sponsors and cosponsors - Sponsor: Robert Foley (Republican), House - Cosponsor: David Haggan (Republican), Senate - Cosponsor: Donna Bailey (Democratic), Senate - Cosponsor: Joshua Morris (Republican), House - Cosponsor: Paul Flynn (Republican), House - Cosponsor: Rolf Olsen (Republican), House ## Actions (6) - 2025-03-25: Signed by Governor, ACTPUB Chapter 17 - 2025-03-20: PASSED TO BE ENACTED, in concurrence. (Senate) - 2025-03-20: PASSED TO BE ENACTED. Sent for concurrence. ORDERED SENT FORTHWITH. (House) - 2025-03-20: Report READ and ACCEPTED, in concurrence.READ ONCEUnder suspension of the Rules, READ A SECOND TIME and PASSED TO BE ENGROSSED, in concurrence.Ordered sent down forthwith. (Senate) - 2025-03-18: CONSENT CALENDAR - FIRST DAYUnder suspension of the rules CONSENT CALENDAR - SECOND DAY.The Bill was PASSED TO BE ENGROSSED.Sent for concurrence. ORDERED SENT FORTHWITH. (House) - 2025-02-20: Received by the Clerk of the House on February 20, 2025.The Bill was REFERRED to the Committee on HEALTH COVERAGE, INSURANCE AND FINANCIAL SERVICES pursuant to Joint Rule 308.2 and ordered printed pursuant to Joint Rule 401. (House) ## Bill text - Enacted: [PDF](https://legislature.maine.gov/legis/bills/getPDF.asp?paper=HP0459&item=2&snum=132) - Introduced: [PDF](https://legislature.maine.gov/legis/bills/getPDF.asp?paper=HP0459&item=1&snum=132) ## Related bills - LD 1522: An Act to Establish the Maine Eviction Prevention Program (failed) - LD 1665: An Act to Provide Property Tax Relief to Maine Families (failed) - LD 1872: An Act to Reinvest in the Pension Funds of the Maine Public Employees Retirement System (failed) - LD 2067: An Act to Include Community Mental Health Workers Under the 1998 Special Plan for Retirement (failed) - LD 1611: An Act to Decrease the Retirement Contributions Required for Teachers and State Employees (failed) - LD 1294: An Act to Expand the Dependent Exemption Tax Credit (failed) ## Sources - [Enacted (PDF)](https://legislature.maine.gov/legis/bills/getPDF.asp?paper=HP0459&item=2&snum=132) - [Introduced (PDF)](https://legislature.maine.gov/legis/bills/getPDF.asp?paper=HP0459&item=1&snum=132) ## Related - [LD 1522: An Act to Establish the Maine Eviction Prevention Program](https://policyrisk.com/state-bill/ME-LD1522-132) - [LD 1665: An Act to Provide Property Tax Relief to Maine Families](https://policyrisk.com/state-bill/ME-LD1665-132) - [LD 1872: An Act to Reinvest in the Pension Funds of the Maine Public Employees Retiremen…](https://policyrisk.com/state-bill/ME-LD1872-132) - [LD 2067: An Act to Include Community Mental Health Workers Under the 1998 Special Plan f…](https://policyrisk.com/state-bill/ME-LD2067-132) - [LD 1611: An Act to Decrease the Retirement Contributions Required for Teachers and State…](https://policyrisk.com/state-bill/ME-LD1611-132) - [LD 1294: An Act to Expand the Dependent Exemption Tax Credit](https://policyrisk.com/state-bill/ME-LD1294-132) - [Maine bills](https://policyrisk.com/states/maine/bills) - [Maine state hub](https://policyrisk.com/states/maine) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/ME-LD720-132 (as of 2026-10-17).