24-A §4616. Tax exemptions
§4616. Tax exemptions 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. [PL 1983, c. 846 (NEW).] SECTION HISTORY PL 1983, c. 846 (NEW).
24-A §4617. Immunity
§4617. Immunity 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 representatives, for any […]
24-A §4618. Stay of proceedings; reopening default judgments
§4618. Stay of proceedings; reopening default judgments 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 […]
24-A §4619. Report to Legislature (REPEALED)
§4619. Report to Legislature (REPEALED) SECTION HISTORY PL 1989, c. 751, §13 (NEW). PL 2005, c. 346, §13 (RP). PL 2005, c. 346, §16 (AFF).
24-A §4620. Prohibited advertisement of association in insurance sales
§4620. Prohibited advertisement of association in insurance sales 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, magazine or […]
24-A §4606. Creation of the association
§4606. Creation of the association 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 organization business in this State. The […]
24-A §4621. Credits for assessments paid; tax offsets
§4621. Credits for assessments paid; tax offsets 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 […]
24-A §4607. Board of directors
§4607. Board of directors 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 subject to the approval […]
24-A §4608. Powers and duties of the association
§4608. Powers and duties of the association 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 association that […]
24-A §4609. Assessments
§4609. Assessments 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 necessary. Assessments are due not less than 30 […]