24-A §2486. Construction — Article 15
§2486. Construction — Article 15 The provisions of this compact must be liberally construed to effectuate its purposes. [PL 2003, c. 680, §1 (NEW).] SECTION HISTORY PL 2003, c. 680, §1 (NEW).
24-A §2487. Binding effect of compact and other laws — Article 16
§2487. Binding effect of compact and other laws — Article 16 1. Laws of compacting state. Nothing in this chapter prevents the enforcement of any laws of a compacting state other than this compact, except as provided in subsection 2. [PL 2003, c. 680, §1 (NEW).] 2. Exclusive provisions. For any product approved by […]
24-A §2483. Finance — Article 12
§2483. Finance — Article 12 1. Commission shall fund its establishment and organization. The commission shall pay or provide for the payment of the reasonable expenses of its establishment and organization. To fund the cost of its initial operations, the commission may accept contributions and other forms of funding from the National Association of Insurance […]
24-A §2484. Compacting states, effective date and amendment — Article 13
§2484. Compacting states, effective date and amendment — Article 13 1. Any state eligible to become compacting state. Any state is eligible to become a compacting state. [PL 2003, c. 680, §1 (NEW).] 2. Effective dates for compact and commission. The compact becomes effective and binding upon legislative enactment by 2 compacting states. The […]
24-A §2485. Withdrawal, default and termination — Article 14
§2485. Withdrawal, default and termination — Article 14 1. Withdrawal. The following provisions govern withdrawal from the compact. A. Once effective, the compact continues in force and remains binding upon each compacting state. A compacting state may withdraw from the compact by enacting a statute specifically repealing the statute that enacted the compact. […]
24-A §2471. Short title — Article 1
§2471. Short title — Article 1 This chapter may be known and cited as “the Interstate Insurance Product Regulation Compact.” [PL 2003, c. 680, §1 (NEW).] SECTION HISTORY PL 2003, c. 680, §1 (NEW).
24-A §2472. Interstate Insurance Product Regulation Compact established; purposes
§2472. Interstate Insurance Product Regulation Compact established; purposes 1. Compact established. Pursuant to terms and conditions of this chapter, the State seeks to join with other states and establish the Interstate Insurance Product Regulation Compact, referred to in this chapter as “the compact,” and thus become a member of the Interstate Insurance Product Regulation Commission. […]
24-A §2473. Definitions — Article 2
§2473. Definitions — Article 2 As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 2003, c. 680, §1 (NEW).] 1. Advertisement. “Advertisement” means any material designed to create public interest in a product or induce the public to purchase, increase, modify, reinstate, borrow on, surrender, […]
24-A §2474. Establishment of commission; venue — Article 3
§2474. Establishment of commission; venue — Article 3 1. Commission created. The compacting states hereby create and establish a joint public agency known as the Interstate Insurance Product Regulation Commission. The commission has the power to develop uniform standards for product lines, receive and provide prompt review of products filed and give approval to those […]
24-A §2475. Powers of the commission — Article 4
§2475. Powers of the commission — Article 4 The commission has the power: [PL 2003, c. 680, §1 (NEW).] 1. Promulgate rules. To promulgate rules, pursuant to section 2478, that have the force of law and are binding in the compacting states to the extent and in the manner provided in the compact; […]