24-A §6094. Risk retention groups chartered in this State
§6094. Risk retention groups chartered in this State A risk retention group shall be chartered and authorized, pursuant to the provisions of this title, as a liability insurer to write only liability insurance pursuant to this Act and, except as provided elsewhere in this Act, must comply with all the laws, rules and requirements applicable […]
24-A §6095. Risk retention groups not chartered in this State
§6095. Risk retention groups not chartered in this State Risk retention groups chartered and licensed in states other than this State and seeking to do business as a risk retention group in this State must comply with the laws of this State in the following manner. [PL 1987, c. 481, §3 (NEW).] 1. Notice […]
24-A §6096. Compulsory associations
§6096. Compulsory associations 1. Financial contribution. No risk retention group may be required or permitted to join or contribute financially to any insurance insolvency guaranty fund or similar mechanism in this State, nor may any risk retention group or its insureds or claimants against its insureds, receive any benefit from any such fund for claims […]
24-A §6097. Purchasing groups; exemption from certain laws relating to the group purchase of insurance
§6097. Purchasing groups; exemption from certain laws relating to the group purchase of insurance Any purchasing group meeting the criteria established under the provisions of the federal Liability Risk Retention Amendments of 1986 is exempt from any law of this State relating to the creation of groups for the purchase of insurance, prohibition of group […]
24-A §6098. Notice and registration requirements of purchasing groups
§6098. Notice and registration requirements of purchasing groups 1. Notice. A purchasing group that intends to do business in this State shall, prior to doing business, pay the appropriate fee at the rate specified in section 601 and furnish notice to the superintendent to: A. Identify the state in which the group is domiciled; […]
24-A §6099. Restrictions on insurance purchased by purchasing groups
§6099. Restrictions on insurance purchased by purchasing groups 1. Purchase from risk retention group; insurer; licensed agent or broker. A purchasing group may purchase insurance from a risk retention group that is chartered in a state or, in the case of product liability or completed operations liability coverage, that qualifies under section 6093, subsection 13, […]
24-A §6100. Administrative and procedural authority regarding risk retention groups and purchasing groups
§6100. Administrative and procedural authority regarding risk retention groups and purchasing groups The superintendent is authorized to make use of any of the powers established under the Maine Insurance Code as long as those powers are not specifically preempted by the Product Liability Risk Retention Act of 1981, as amended by the Risk Retention Amendments […]
24-A §6101. Penalties
§6101. Penalties A risk retention group which violates any provision of this Act will be subject to fines and penalties applicable to licensed insurers generally, including revocation of its license or the right to do business in this State. [PL 1987, c. 481, §3 (NEW).] SECTION HISTORY PL 1987, c. 481, §3 (NEW).
24-A §6102. Duty of agents or brokers to obtain license
§6102. Duty of agents or brokers to obtain license Any person acting, or offering to act, as an agent or broker for a risk retention group or purchasing group, which solicits members, sells insurance coverage, purchases coverage for its members located within the State or otherwise does business in this State shall, before commencing any […]
24-A §6103. Binding effects of orders issued in the United States District Court
§6103. Binding effects of orders issued in the United States District Court An order issued by any district court of the United States enjoining a risk retention group from soliciting or selling insurance or operating in any state, or in all states or in any territory or possession of the United States, upon a finding […]