Maine Revised Statutes

§411. Insuring combinations without additional capital funds

Without additional paid-in capital stock or additional surplus, an authorized insurer may also be authorized: [1969, c. 132, §1 (NEW).]

1.   If a life insurer, to grant annuities;
[ 1969, c. 132, §1 (NEW) .]
2.   If a health insurer, to insure against congenital defects, as defined in section 707;
[ 1969, c. 132, §1 (NEW) .]
3.   If a casualty insurer or multiple line insurer, to transact health insurance; except that this provision does not apply to a domestic insurer authorized to transact casualty insurance only, pursuant to section 410, subsection 1, paragraph A; or
[ 1991, c. 385, §3 (AMD) .]
4.   To transact employee benefit excess insurance to the extent authorized pursuant to section 707, subsection 3.
[ 1991, c. 385, §4 (NEW) .]
SECTION HISTORY
1969, c. 132, §1 (NEW). 1991, c. 385, §§3,4 (AMD).

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