Maine § 24-A §1156 Reserve and other investments

Maine Statutes

§ 24-A §1156 — Reserve and other investments

Maine § 24-A §1156

Title 24-AMAINE INSURANCE CODE

Ch. 13-AINVESTMENTS OF LIFE INSURERS AND LIFE AND HEALTH INSURERS

This text of Maine § 24-A §1156 (Reserve and other investments) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 24-A, § 24-A §1156 (2026).

Text

1.Standard of care. When investing the assets of an insurer, the directors and officers of the insurer shall perform their duties in good faith and with that degree of care that an ordinarily prudent person in a like position would use under similar circumstances.

2.Investment classes. Subject to section 1155, the assets of an insurer may be invested in the following classes, subject to the percentage limitations contained in this subsection:

3.Determination of eligibility. The eligibility of any investment under any paragraph of subsection 2 must be determined at the time of acquisition, except that investments qualified under subsection 2, paragraph H, may be requalified at a later date under another provision of this chapter, if the relevant conditions are satisfied at the time of su

Free access — add to your briefcase to read the full text and ask questions with AI

1.
Standard of care.
When investing the assets of an insurer, the directors and officers of the insurer shall perform their duties in good faith and with that degree of care that an ordinarily prudent person in a like position would use under similar circumstances.
2.
Investment classes.
Subject to section 1155, the assets of an insurer may be invested in the following classes, subject to the percentage limitations contained in this subsection:
3.
Determination of eligibility.
The eligibility of any investment under any paragraph of subsection 2 must be determined at the time of acquisition, except that investments qualified under subsection 2, paragraph H, may be requalified at a later date under another provision of this chapter, if the relevant conditions are satisfied at the time of such requalification.

Legislative History

PL 1987, c. 399, §14 (NEW). PL 1993, c. 313, §§26-28 (AMD). PL 1999, c. 715, §§12,13 (AMD). PL 2001, c. 72, §14 (AMD). PL 2001, c. 471, §§A27,D24 (AMD).