Chapter 52: MAINE EMPLOYERS' MUTUAL INSURANCE COMPANY HEADING: PL 1991, C. 615, PT. D, §1 (NEW)
§3708. General powers
1.Powers.
For the specific purpose of exercising the responsibilities granted in this chapter and effectuating the purposes of this
chapter, the company has the powers otherwise granted to a casualty insurer and may:
A. Hire employees or enter into contracts relating to the administration of a workers' compensation insurer; [1991, c. 885, Pt. C, §8 (NEW).]
B. Declare a dividend when there is an excess of assets over liabilities and surplus requirements established in this Title;
and [1991, c. 885, Pt. C, §8 (NEW).]
C. Enter into agreements to reinsure all or part of the company's exposure to loss and to otherwise limit the risk to the company
and manage its financial condition. [1991, c. 885, Pt. C, §8 (NEW).]
[
1991, c. 885, Pt. C, §8 (NEW)
.]
2.Assessments; plan of operation.
The board shall:
A. Assess policyholders to cover its expenses, claims, obligations and other funding needs consistent with this chapter and
Title; and [1991, c. 885, Pt. C, §8 (NEW).]
B. Develop and file with the superintendent for review and approval a plan of operation and any amendments to a plan of operation
necessary or suitable to ensure the fair, reasonable and equitable administration of the company. [1991, c. 885, Pt. C, §8 (NEW).]
[
1991, c. 885, Pt. C, §8 (NEW)
.]
SECTION HISTORY
1991, c. 885, §C8 (NEW).
Data for this page extracted on 10/16/2012 08:29:52.