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84 chapters · 1,755 sections in this title.
24-A M.R.S. § 2391 Title and scope of chapter
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1. Title. This chapter may be known and cited as "The Workers' Compensation Residual Market Deficit Resolution and Recovery Act." 2. Scope. This chapter establishes an efficient and effective mechanism for funding the obligations of the residual market mechanism in the State aris…
24-A M.R.S. § 2392 Definitions
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As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1995, c. 289, §11 (NEW).] 1. Association. "Association" means the Maine Insurance Guaranty Association. 2. Board. "Board" means the governing board of the Maine W…
24-A M.R.S. § 2393 Initial funding of pool
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1. Payments by insurers. Insurers shall pay to the pool on or before January 1, 1996 the amount of $65,000,000, as follows. A. Major insurers shall pay to the pool 90% of the $65,000,000 payment, which is $58,500,000. Each major insurer shall pay to the pool that major insurer's …
24-A M.R.S. § 2394 Funding subsequent cash deficiencies
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If the insurers have made payments to the pool totalling $65,000,000 valued as of January 1, 1996 pursuant to section 2393, subsection 1 and the employers have paid surcharges totalling $110,000,000 calculated on a net present value basis using January 1, 1995 as a valuation date…