Title 24-A, Title 24-A

1. The superintendent may apply for and any Superior Court may grant such restraining orders, temporary and permanent injunctions and other orders as may be deemed necessary to enforce the superintendent's order. 2. Violation of any order of the superintendent issued under sectio…

1. Upon filing by the superintendent in any Superior Court of this State of the superintendent's verified petition alleging any ground for a formal delinquency proceeding against an insurer under sections 4351 to 4385 and that the interests of the insurer's policyholders or credi…

1. If it appears to the superintendent that the interests of policyholders, creditors or the public will be jeopardized by delay incident to requesting a court seizure order, then on any ground that would justify a court seizure order under section 4404, and without notice and wi…

1. The superintendent shall hold all hearings in summary proceedings privately unless the insurer requests a public hearing, in which case the hearing shall be public. 2. The court may hold all hearings in summary proceedings and judicial reviews thereof privately in chambers, an…

Any person having possession or custody of and refusing to deliver to the superintendent or the superintendent's representative upon request any of the property, books, accounts, documents or other records of an insurer against which a seizure order or a summary order has been is…

This subchapter shall be known and may be cited as the Maine Insurance Guaranty Association Act.

The purpose of this subchapter is to provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment and to avoid financial loss to claimants or policyholders because of the insolvency of an insurer, to assist in the dete…

1. Application. This subchapter shall apply only as to the following kinds of insurance: A. Property insurance, as defined in section 705; [PL 1969, c. 561 (NEW).] B. Surety insurance, as defined in section 706; [PL 1969, c. 561 (NEW).] C. Casualty insurance, as defined in sectio…

This subchapter shall be liberally construed to effect the purpose stated under section 4432, which shall constitute an aid and guide to interpretation.

As used in this subchapter, unless context otherwise requires: [PL 1969, c. 561 (NEW).] 1. Account. "Account" means any one of the 3 accounts created by section 4436. 1-A. Affiliate. "Affiliate" means a person who directly, or indirectly, through one or more intermediaries, contr…

There is created a nonprofit unincorporated legal entity to be known as the Maine Insurance Guaranty Association. All insurers defined as member insurers in section 4435 shall be and remain members of the association as a condition of their authority to transact insurance in this…

The board of directors of the association must consist of not less than 7 persons serving terms as established in the plan of operation, and not less than 3 of the persons must represent members of the association that are domiciled in the State. The members of the board must be …

1. Powers and duties. The association shall: A. Be obligated to pay covered claims existing prior to the determination of the insolvency or arising within 30 days after the determination of insolvency, or before the policy expiration date if less than 30 days after the determinat…

1. Submission. 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. The plan of operation and any amendments thereto shall become …

1. Proportion. The assessments of each member insurer provided for under section 4438 must be in the proportion that the net direct written premiums of the member insurer for the calendar year preceding the assessment on the kinds of insurance in the account bears to the net dire…

1. Special assessment. If the maximum assessment, together with the other assets of the association in any account, does not provide in any one year in any account an amount sufficient to make all necessary payments from that account, the shortfall shall be assessed as an obligat…

1. Duties and powers. The superintendent shall: A. Notify the association of the existence of an insolvent insurer not later than 3 days after the superintendent receives notice of the determination of the insolvency. The association shall be entitled to a copy of any complaint s…

Any person recovering on a covered claim under this subchapter must be deemed to have assigned the person's rights under the policy to the association to the extent of the person's recovery from the association. Every insured or claimant seeking the protection of this subchapter …

1. Insurance policy. Any person having a claim against an insurer under any provision in an insurance policy, other than that of an insolvent insurer, which is also a covered claim, shall be required to exhaust first the person's right under the policy. Any amount otherwise payab…

To aid in the detection and prevention of insurer insolvencies: [PL 1969, c. 561 (NEW).] 1. Notification. The board of directors, upon majority vote, shall notify the superintendent of any information indicating that any member insurer may be insolvent or in a financial condition…

The association shall be subject to examination and regulation by the superintendent. The board of directors shall submit, not later than March 30th of each year, a financial report for the preceding calendar year in a form approved by the superintendent. [PL 1969, c. 561 (NEW); …

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.

The rates and premiums charged for insurance policies to which this subchapter applies shall include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer less any amounts returned to the member insurer by the association, and such …

There is no liability on the part of and no cause of action of any nature arises against any member insurer, the association or its agents or employees, the board of directors, or the superintendent or the superintendent's representatives for any action taken by them in the perfo…

All proceedings in which the insolvent insurer is a party or is obligated to defend a party in any court in this State shall be stayed for 60 days from the date the insolvency is determined, and may be stayed by the Superior Court for additional time solely as is deemed necessary…

The superintendent shall by order terminate the operation of the association as to any kind of insurance with respect to which the superintendent has found, after notice and hearing, that there is in effect a statutory plan of the United States Government to avoid excessive delay…

A person who makes, publishes or circulates, or causes to be made, published or circulated, any statement that uses the existence of the association for the purpose of sales, solicitation or inducement to purchase any form of insurance has committed an unfair trade practice that …

At the end of each calendar year, the association shall submit a report of its activities to the joint standing committee of the Legislature having jurisdiction over banking and insurance matters. The report must include the amount of assessments made against each account, the na…

1. The State, any county, city or town may make contracts of insurance with any insurer authorized to transact such business within the State insuring its employees or any class or classes thereof under a policy or policies of group insurance covering life, health or accident ins…

1. In order to extend to the employees of any school administrative unit, school or educational institution located in the State and to certified employees of the Department of Education the benefits of tax sheltered annuities available under the Internal Revenue Code, it is decl…

All unclaimed money held and owing by any life insurer doing business in this State must be disposed of according to Title 33, chapter 45. Before disposing of any unclaimed money in accordance with Title 33, chapter 45, a life insurer doing business in this State shall comply wit…

This chapter may be known and cited as the Maine Life and Health Insurance Guaranty Association Act.

The purpose of this chapter, subject to certain limitations, is to maintain public confidence in the promises of insurers by providing a mechanism for protecting policyholders, insureds, beneficiaries, annuitants, payees and assignees of life insurance policies, health insurance …

1. Application. This chapter applies to direct nongroup life insurance policies, health insurance policies, annuity contracts and contracts supplemental to life and health insurance policies and annuity contracts and to certificates under direct group life insurance policies, hea…

This chapter must be construed to effect the purpose under section 4602.

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 2005, c. 346, §5 (NEW); PL 2005, c. 346, §16 (AFF).] 1. Account. "Account" means any one of the 3 accounts created under section 4606. 2. Association. "Associatio…

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 …