Maine § 24-A §3306 Incorporation of domestic stock, mutual insurers

Maine Statutes

§ 24-A §3306 — Incorporation of domestic stock, mutual insurers

Maine § 24-A §3306

Title 24-AMAINE INSURANCE CODE

Ch. 47ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS

This text of Maine § 24-A §3306 (Incorporation of domestic stock, mutual insurers) 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 §3306 (2026).

Text

1.This section applies to stock and mutual insurers hereafter incorporated in this State. Such an insurer may be formed for the purpose of transacting any kind or kinds of insurance, as well as annuity business.

2.Incorporators. Three or more individuals, none of whom is less than 18 years of age, may incorporate a stock insurer; 10 or more such individuals may incorporate a mutual insurer. At least a majority of the incorporators must be citizens of the United States of America.

3.Articles of incorporation. The incorporators shall execute articles of incorporation in triplicate, and at least a majority of the incorporators shall acknowledge their execution of the articles of incorporation under oath. The articles of incorporation must state and show:

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1.
This section applies to stock and mutual insurers hereafter incorporated in this State.
Such an insurer may be formed for the purpose of transacting any kind or kinds of insurance, as well as annuity business.
2.
Incorporators.
Three or more individuals, none of whom is less than 18 years of age, may incorporate a stock insurer; 10 or more such individuals may incorporate a mutual insurer. At least a majority of the incorporators must be citizens of the United States of America.
3.
Articles of incorporation.
The incorporators shall execute articles of incorporation in triplicate, and at least a majority of the incorporators shall acknowledge their execution of the articles of incorporation under oath. The articles of incorporation must state and show: