Title 24-A, Title 24-A

1. Creation. There is created a nonprofit legal entity to be known as the Maine Life and Health Insurance Guaranty Association. All member insurers must be and remain members of the association as a condition of their authority to transact insurance or health maintenance organiza…

1. Membership. The board of directors of the association must consist of not less than 7 nor more than 11 members representing member insurers serving terms as established in the plan of operation pursuant to section 4610. The members of the board are selected by member insurers …

In addition to the powers and duties enumerated in other sections of this chapter: [PL 1983, c. 846 (NEW).] 1. Impaired insurer; association action. If a member insurer is an impaired insurer, the association may, subject to any fair and equitable conditions imposed by the associ…

1. Assessments; collection. For the purpose of providing the funds necessary to carry out the powers and duties of the association, the board of directors shall assess the member insurers, separately for each account, at such times and for such amounts as the board finds necessar…

1. Establishment of plan. A plan of operation shall be established as follows. A. The association shall submit to the superintendent a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable and equitable administration of the association…

In addition to the duties and powers enumerated elsewhere in this chapter: [PL 1983, c. 846 (NEW).] 1. Powers and duties. The superintendent shall: A. Notify the board of directors of the existence of an impaired insurer not later than 3 days after a determination of impairment o…

To aid in the detection and prevention of insurer impairments and insolvencies, the following provisions apply. [PL 2005, c. 346, §11 (NEW); PL 2005, c. 346, §16 (AFF).] 1. Action by superintendent. The superintendent shall: A. Notify the insurance commissioners of all the other …

The association may recommend a natural person to serve as a special deputy to act for the superintendent and under the superintendent's supervision in the liquidation, rehabilitation or conservation of any member insurer.

1. Liability for unpaid assessments of insureds of an impaired insurer. Nothing in this chapter may be construed to reduce the liability for unpaid assessments of the insureds of an impaired insurer operating under a plan with assessment liability. 2. Records. Records must be kep…

The association shall be subject to examination and regulation by the superintendent. The board of directors shall submit to the superintendent, not later than May 1st of each year, a financial report for the preceding calendar year in a form approved by the superintendent and a …

The association shall be exempt from payment of all fees and all taxes levied by this State or any of its subdivisions, except taxes levied on real or personal property.

There is no liability on the part of and no cause of action of any nature may arise against any member insurer or its agents or employees, the association or its agents or employees, the board of directors or any member of the board or the superintendent or the superintendent's r…

All proceedings in which the impaired insurer is a party in any court in this State shall be stayed 60 days from the date an order of liquidation, rehabilitation or conservation is final to permit proper legal action by the association on any matters germane to its powers or duti…

A person, including a member insurer or an agent or affiliate of a member insurer, may not make, publish, disseminate, circulate or place before the public or cause directly or indirectly to be made, published, disseminated, circulated or placed before the public in any newspaper…

1. Credit allowed. A member insurer may offset against its premium tax liability to this State an assessment described in section 4609, subsection 2‑A, paragraph B and for which a certificate under section 4609, subsection 9 is issued, to the extent of 20% of the amount of the as…